Is it safe for a visitor to Austin for short term stay to choose this location: Jeff Davis Avenue?

Here's a good article that puts crime in Austin in perspective:
http://www.texasmonthly.com/the-daily-post/the-fbis-list-of-the-most-dangerous-cities-in-texas/

Bottom line is that Austin is generally very safe.

It's a relatively safe area of town. I live about a mile away and don't feel the need to own an alarm system (I'm married w/ a 3 year old.) With the exception of the suburbs, the crime websites will freak you out for pretty much any area of Austin (central, especially) due to population density.