Fitzrovia is a little bit of everything London has to offer, this is the very heart of London. It’s where the centre of London starts. As a student if you can manage to find accommodation here you'll be living incredibly close to many of London's major universities and landmarks. But the rents for such a central neighbourhood are, of course, quite high.
The area is intensely mixed. Oxford Street is one of the most famous shopping areas in the world, and the bars and restaurants here are exclusive and expensive. The places of Fitzrovia are mostly flats and new, modern apartments. Actual houses are rare in the area. This is central-central London, so prices are always going to be high.
You're so close to London's main universities, places like: SOAS, University College London, The University of London and City University, that you can walk to your lectures. This is really rare privilege in London. You're also within a short tube ride of LSE or The University of Westminster. Fitzrovia is extremely well connected to the city centre by foot or bike, but also by several tube stations.