Almost everyone stays in Virpazar; the alternatives are quieter, emptier and much harder without a car.
Virpazar — the causeway village
A hundred-odd houses around the boat harbour, with the restaurants, the wine cellars, the tour boats and the railway station all within two minutes' walk of each other. Everything shuts early.
Rijeka Crnojevića — the river end
A near-silent village around an 1853 stone bridge on the lake's north-western arm, with a handful of guesthouses and the quietest boat trips on the water. You need a car or a taxi to get in and out.
Murići and the southern shore
The wild side under the Rumija ridge, with the best swimming on the lake and simple rooms and camping in the villages. About an hour from Virpazar on a slow shore road, and there is little to do after dark.
Or don't stay at all
Bar and Podgorica are both about half an hour away and the train from Bar to Virpazar is on the fare table at €1.80. In July and August, day-tripping costs less than a lakeside room and you lose almost nothing.