It is definitely ill advised to run a Python web application as root. If a specific part of the code must run as root, then you would be better off factoring that out into a separate backend service which the main web application communicates with using some interprocess communications process. That back end application should only accept connections from the host the web application runs on and not arbitrary connections from any host.
Besides that, you don't say how you are hosting Django so becomes harder to advise you if you are also after the method to isolate code to run as a specific user. Are you using mod_python, mod_wsgi, fastcgi or proxying to a backend Python WSGI server which is running it?
In worst case your only choice will be for code to run as same user that Apache runs as. This isn't advised if running other applications on same Apache, whether that be Python, PHP or some other language. This is because all the applications can interfere with each other and so a breach in a separate application can still cause you problems.
As such, running individual applications as distinct users and locking down file systems permissions such that each can only access the data for that application is preferable.
If you want an extra level of paranoia then you start looking at running individual applications in a chroot environment.
What exactly you can do is dictated by how you are hosting it, thus why important to know that.