There are numerous apartments to be had around Lamcy Plaza, while Oud Metha is also home to a number of leisure destinations, hotels, hospitals and schools.
Oud Metha was once central Dubai, but now its facilities evoke memories of days gone by. Al Nasr Leisureland, for example, offered many of the places to be in 80s Dubai (The Lodge, Cyclone...), now given the city's geographical shift, it's considered a mission to get there from many parts of newer Dubai - even if Chi at the Lodge remains one of the best and only real clubs in the city.
That is not to say transport is bad. One of the reasons people live in Oud Metha is getting onto the main road arteries of Dubai is a pretty straightforward affair.
The area is a treasure chest of some of Dubai's most well-known schools - especially if you add the neighbouring Umm Hurair 2. Together the area is home to The Indian High School (rated 'Outstanding' by the KHDA), Dubai GEM Private School ('Good'), Dubai English Speaking School ('Good'), and Al Rashid al Saleh School ('Good').
The area is also home to the American Hospital in Dubai, considered to be one of the best in the city.
Al Nasr Leisureland itself is home to a number of sports facilities (an ice rink, tennis courts, squash courts, swimming pool, and bowling centre) as well as clubs serving the city's communities. The centre(s) first opened in 1979, and while costs may have gone up, prices (and look) feel old Dubai. A tennis court will cost 60 AED per hour; an hour's bowling will cost you 100 AED. It is also the only bowling facility in Dubai where you can have something alcoholic to drink - should you wish to do so.
Al Nasr Leisureland also offers a few dining outlets. Regulars say Viva Goa is one of the better options. Many more options will be found around Lamcy, and if you cut over to Healthcare City there's Wafi, Raffles, and the Grand Hyatt which offer a substantial range of outlets for wining and dining.
Rental prices in Oud Metha start at around 75,000 AED for a 1-bed. You can find a 2-bed for 95,000 AED plus, and three-bed apartments start at 150,000 AED.
Oud Metha is not the most obvious place to think of to live in Dubai, but if you work in Bur Dubai, or over the creek in Deira, there are a lot worse places to live. Facilities are excellent, and brilliant value, while Wafi, the Hyatt and Raffles offer you high end luxury pretty much on your door step.