There are lots of neighborhoods close to Disney to rent.
Indian Creek
Rolling Hills
Emerald Island
Oak Island Cove
Sunset Lakes
Windsor Palms
Formossa Gardens
Indian Ridge
Windsor Hills
You can have your choice of lots of homes in the area that are great for vacationing.
The communities that FLParadisevilla mentioned are in a great location. Technically they are in Kissimmee, but are actually closer to Celebration than downtown Kissimmee! They are all great neighborhoods and close to Disney.
Celebration itself does not allow short term rentals - I believe the shortest rental you can get there is 6 months.