Worked in Kokomo for 3 years. I liked Kokomo, the people are great. Lots of shopping and activities go on in Kokomo. I worked for Ivy Tech. I can't speak to any apartment complexes, as I live in Westfield and drove everyday. I would however suggest that you avoid 31 at all costs. It is horrible!!! There is a stop light every 15 feet and it will take you over an hour during rush hour to get from 1 end to the other of Kokomo. Since you are going to IU-K, I suggest finding something on the westside of 31, that way you avoid it completely.
I would also suggest that you look at renting a house. For the price of an apartment you can rent a pretty nice house in Kokomo. You would have to mow the grass and have a little extra work, but you would be better off.
As for IU-K, that is a strange place to me. They are trying soooo hard to be a "real" university. They now have athletics, they are talking about dorms, etc. Its pretty nice and now that they got rid of that Chancellor that was nuts (literally I met the guy a few times), things are probably looking up. I think you will like it there. As I said the people in Kokomo are great! Lots of great little places to eat. I would say it is similar to Terre Haute, just cleaner (in my opinion). Good luck...but avoid 31...no matter what. If you can find a place that gets you to IU-K without ever having to go near 31, do it! You will be thankful!