If we're leaving out dream-locations and ancient history, and confining "Lovecraft country" to his fictional New England... yeah, Arkham sounds like the best bet. It's a spooky old town where nothing much in the way of real danger happens (unless you happen to live in a witch's attic and refuse to leave even when things start getting weird). It's got the University with its library of unspeakable tomes, and it's within easy driving distance of Innsmouth, so you can always dive into the creepy danger if you want, but always come back to relatively-safe Arkham. Just don't drink the tap water and lock your door on Walpurgisnacht, and you should be all right.
I'd probably go for Inuto next to Leng, because it has a touch of the void about it, but not so much that you can't retreat into your suburban home, shut the garage door and check what's on cable. Wait, is Inuto next to Leng? What's that place next to Leng where they quarry marble?
Kingsport sounds nice, too. Nir seems a little too backwoods and hickish. Olathoe is probably overrated. Arkham is probably a nice place to visit, but I wouldn't want to live there.
As long as you don't engage in occult activities in Arkham or hang out with people that do, I would imagine life in Arkham would be relatively quiet. Well, and my birthday is Walpurgisnacht. Take that for what you will.
I dug out my notes for Kadath and it is Inganok that lies near the plateau of Leng with its large quarries of onyx; and has "shadows no cat will endure." Randolph Carter debarks in Inganok. In Inganok, the slaves were squat, slant-eyed folk said to have drifted somehow across or around the the impassable peaks form valleys beyond Leng.