Move in with your parents for the first 6-12 months, but then move into town and try very hard to avoid commuting by car entirely (walk up to 1 mile, bike up to 4, without hesitation).
When you are just starting out it will probably be hard to trade your time for money at a $40 rate -- that's equivalent to an $80,000 per year salary, which is pretty rare for a fresh-out-of-school kid in Columbus, OH. So I'm discounting your time value a bit, and I think the commute works for now on the numbers without question. But after a few years of experience you should start to value your time at least that much, and the spreadsheet numbers then look a lot dicier.
Much more important, because the "cost" of commuting on your spreadsheet (which seems fairly reasonable but probably underestimates random repairs a little bit) is mainly the imputed value of your time, and not cash outlay, you will hopefully have the chance to bank up a good little nest egg in 6-12 months. This will be very useful in allowing you to shop around for exactly the right place (don't have to worry if a large security deposit is requested), furnish it without going into debt, and the time elapsed will probably allow you to really get a feel for the in-town neighborhoods, meet potential good roommates, and plan things out are carefully as you can. This will maximize your chances of getting a good place at a good price that you will enjoy living in, with exactly the location that will allow you to render a car commute unnecessary.
Jumping right into a lease or roommate situation which turns out to be bad can be a somewhat annoying and expensive mistake; not everyone has the luxury of free room and board within a broadly reasonable commute of his first job, but you do. So I say take advantage. But don't lull yourself into thinking that a 30 minute per direction car commute is sustainable indefinitely -- it isn't a great idea long-term, and after your first two weeks on the job you should immediately begin working on a plan to get rid of it within a year.
