I've lived in both cities for some time, and so can tell you a bit about both. Check out Mr Switter's post about Memphis on the Tennessee board. Also check out my susbsquent post under his for additional context.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=179x322#329In short, the two areas of that city you should focus on are
(a)Midtown (between downtown and the University of Memphis, this is the city's artsy/bohemian area. Cooper-Young especially is the center of it all).
(b)The University of Memphis area. This is the secondary such area of the city. In merciful contrast to Ole Miss excessive Greek dominance (the student body is literally 1/3 Greek), the University of Memphis is about (1/3 bohemian-looking). Perhaps the yin-yang concept is true after all <grins>! Plus, the city is only an hour's drive away from Oxford, so it's close enough to run to if you need respite from relentless conservatism.
Jackson's liberal community, though much smaller, has become increasingly active in the last three or so years thanks to the newly established alternative newspaper there (
The Jackson Free Press). They have a great discussion board too - always active. The city's emerging non-conservative (if not outright liberal) neighborhoods are Fondren and Belhaven, the area around Millsaps College. If you do choose Ole Miss, odds are fairly good that you will find yourself in Jackson at some point, so this tidbit is good to file away in your mind. Read
my Jackson comments for more about Mississippi's capital city.
Wherever you choose to go to school, good luck and be happy with your choice.