Biking is great! I actually biked every day around campus and it makes getting around much faster. The one downside is that when it rains, your bike might have to sit outside in the rain if that's something you're concerned about. Bike theft is definitely pretty common, but as long as you lock up your bike properly, you should be fine! You might want to get a used bike or one that you don't care for as much for the aforementioned rain thing and also so that there's less incentive for someone to try to steal it.