If your definately going with Dayton, then the other big things you need to decide are tone related. I mean -I- think Buffy (as intended) isn't dissimilar from Angel in tone; just made a bit more juvenile for its intended audience at the time. But a lot of people here feel they /are/ different. So you'll have to decide if you are going with the 'everyone is a student and they are gossiping about mundane stuff most of the time' character drama, or the Angel 'jobs are hard and life is hard, and there is prejudice and bigotry out there and we all have to get along' stuff. They are both talking about the same thing; the monsters as metaphors for the darkness of our lives. Angel had more 'monsters as people' then Buffy did; but I think by Angel Whedon realized the importance of getting along with other people, and how the lack of it turned into another source of darkness and isolation.
I think what you were going for is a city small enough where you can mix that, and Dayton (being firmly in the rust belt) is in the middle where a lot of the....societal issues...that anything Whedon tackled would be front and center. I think you could easily find ways to integrate things; like Buffy had an evil Principle, you could have the Superintendent of the local district be a Trump-style hardnose hunter, who wants to crack down on immigrants whom are actually from a neighboring dimension; and has been harassing these immigrants children. Perhaps a local manufacturing plant is on the verge of shutting down - and the college students find out that an ancient spell, set in the 1920s, kept something sealed beneath it for as long as it was in operation.
But I don't think, from the beginning, you should really get into a 'rut'. I think the way you will be pushed is very, very strongly towards people who will just want to do school RP until the end of time, and if you do that, eventually the game will die (sooner rather then later). I think that RP can and should be important, but the focus has to be, from the beginning, integrating it into a larger 'community'. No matter how old the characters are, the rest of Dayton should affect their lives.
This also gives you ways to push drama. You don't need a 'hunter training school'. You just need 'major ongoing plot hooks' generic enough people can spin off of them, which will naturally 'set' different types of PCs into drama against each other, but not in a combative way. The rust belt is -filled- with tension right now, and its a potent way to mine it. In highschool, this is mostly 'outsiders' (buffy crew) vs Cheerleaders (Cordelia); you just need to find ways to broaden it. Give points of view to NPC groups that disagree with each other...strongly...without being necessarily entirely wrong.
This is a setting where you have armies of girls that can -kill anything-; but what happens when they hit problems they can't stab to death? Those were the things that stymied Buffy the most, and were exclusively what Angel grappled with.