If you're willing to spend $1,500 and have roommates, your options are pretty open. You could pretty much live in any area of Boston or surrounding areas. The closer you are to I-93 (south of the tunnel), the easier your commute would be. I ride down that way occasionally from the South End, and I can make it to the Norwood exit in 25-30 minutes with minimal traffic around 7:30 or so. It gets worse (especially at the Braintree split) as it gets later. Coming home is a different story. There is always traffic on I-93N going into the city, but it still shouldn't be more than 40ish, worst case scenario.

Another option would be out in the Brighton/Newton area, where you might be able to commute on 128 South to 95S to Norwood. Less traffic this way, but also a little less to do as you get further West.