If one takes "live" to mean "spend a couple of months between jobs" then I made this decision, and it was South Lake Tahoe 'cos:
First and formost it is the only place I have found in the US that you can go skiing without a car. There is a lift out of the centre of town, and if that is closed because of the weather there are buses to other ways up the mountain. Heavenly has some big downsides, but when a storm comes in and blocks the road I know nowhere else in the world that will hold powder all day on such steep lift served terrain.
"Cheap" accommodation. Last time I was there the
Blackjack Inn was $200/week which is amazing. When I spent 2 months there there was an even cheaper and more cool hostel, but that has long gone.
Only a bus ride to San Francisco. Amtrak used to run a bus up there, so you could get there without a car and have a weekend in San Fran when your season pass had a blackout weekend.
It has casinos. I do not like them very much, but there is something about having an always on entertainment venue within walking distance. You do not need to be that good at poker to basically drink for free.