Although the Toxic Valley isn't the prettiest area in the world, it offers some pretty great resources nodes to place your camp on, taking full advantage of grinding for junk while you're out exploring.
The Ash Heap, one of the more deadly areas to live, actually has quite a few beneficial places to put your camp, taking full advantage of the various nodes and resources to collect!
The Cranberry Bog, last area in the game where end game players will travel to get the most valuable resources and fight the toughest enemies. Why not LIVE there?