Not sure if the data and storage dir are the same thing or not, but the install wants to be in the /var/www/html/owncloud/data which I'm fine with, but the stuff I store in it must be in my users /home dir. My / partition isn't big enough to handle all my uploads, my /home has a couple TB's of space. is the data folder and storage on in the same? When I first go to my server and create the admin acct and database can I just change the data folder from what it is to my /home/owncloud folder?
yes in this case datadir and storage is the same and oC is saving everything within this datadir (including Music).
You can either move the complete datadir to another place during the installation (moving it afterwards is not supported) or use the external storage support app (see doc.owncloud.org) and use the local storage option to mount a path like /media/Music into your oC instance.