By a majority vote, living off campus isn't just the right way to go, it's the only way. UCF is a huge commuter school with most of its students living off campus in either apartments or houses. In and around the UCF area, it's easy to find what suits you and your budget. Many complexes are geared towards student housing and offer individual leases for each tenant. Apartments can offer you what dorms can't-your own washer and dryer, your own bedroom and bathroom, balconies, clubhouses, and many other amenities.
Apartments are conveniently located next to campus; some are as close as one mile away. Living off campus is convenient and more private. Off-campus living is very social; many students meet their friends through being neighbors and bumping into each other in their complexes. Off-campus living is strongly recommended.