Welcome! Very proud '07 Prescott alum here. If you love the outdoors at all, you will absolutely LOVE it there! No exaggeration. The weather is great most of the time, and the scenery is stunning. Lots of things to do on, and off campus.
If you like mountain biking, there are access points near Haas commons, Mingus mountain complex, and on the north side near the bookstore. You can literally head outside of your dorm and be on a trail in less than a minute or two. There’s also some world class hiking trails all around the Prescott area: Thumb butte, Granite Mountain, the dells, Glassford hill, south Prescott and near Jerome (just to name a few nearby ones). Kayaking is also pretty common on Willow lake which has a bunch of little fingers to explore!
Social life was excellent IMO. It’s not a super party-oriented school though, so tailor your expectations accordingly. There are parties and such, but they are not as big, or common as a large public school. None of this really mattered to me though.
The living situation was also excellent IMO. On-campus dorms are pretty well-maintained, and well-equipped. You also have the option of renting off campus. Most places are a little pricey though, but you will have more options overall to suit your needs. I lived off-campus for about two semesters, but ended up moving back on as I missed being close to my classes, and the social atmosphere was better, IMO. All things considered, I thought the on-campus options were very good. The upperclassmen dorms are great, with excellent views of Granite mountain.
Lastly, Prescott itself is a wonderful town. Lots of things to see and do, with regular events and craft fairs downtown. I was pleased with the restaurants, and the shopping (i.e. Costco, Trader Joes, Target, all of the major players are there).
Let me know if you have any other questions and I would be happy to help answer them. 