Top Business Schools: Where MBAs Live & What Rent Costs

Stanford GSB’s Knight Management Center

Stanford GSB

“Most students opt to live on campus during their first year to be closer to their classmates, their classes, and the many extracurricular activities the school offers. Candidates who apply in the first or second rounds of MBA admissions can add their names to a lottery to be selected randomly to receive on-campus housing.

Two residences are dedicated to GSB students only: Highland Hall, which welcomed its first residents in the fall of 2016, and the Schwab Residential Center, which opened in 1997. The 145,000-square-foot, 202-unit Highland Hall complex was a $75M endeavor for the school and features three courtyards, nine common living or gathering areas, and a four-story tower at the entrance. According to the school, nearly all first year students are able to reside in the complex if they so please. The complex is located approximately 300 feet from the business school, with apartments set up as two-person suites; each resident has a private bedroom with study space and a private bathroom; the two suitemates share a kitchen.

The Schwab Residential Center is an apartment complex adjacent to Highland Hall that houses approximately 200 unmarried students, primarily those in the first year of the MBA program. Schwab also offers a computer lab, 34 study rooms (each equipped with a computer), outdoor areas, two TV lounges, parking (with permit), and a fitness room, and is located next to Stanford’s main exercise facility. Students can either select a suitemate themselves or can fill out a questionnaire on their habits and preferences and then be matched with another student to share a suite at Highland or Schwab. Rent at both residences for the 2017–2018 academic year was set at $1,875 per person, per month…

Other on-campus housing options exist for singles, as well as for couples and families. These include Escondido Village, known as “EV,” which is the largest apartment complex on campus; the Liliore Green Rains Houses; the Lyman Graduate Residences; and the Munger Graduate Residences. EV offers low-, mid-, and high-rise apartments for students from all of Stanford’s graduate schools; monthly rents range from approximately $795 (per student) for a triple-occupancy apartment to $2,627 for a premium one-bedroom 13 mbaMission Insider’s Guide: Stanford Graduate School of Business · 2018–2019 couple’s apartment. The Rains Houses—home to almost 800 single students—include the Multicultural Theme House, which supports the needs of students of color.”

First year Darden classroom

University of Virginia (Darden)

“Students generally live off campus but close to the school; many live either in Ivy Garden (an apartment complex) or Huntington Village (a townhouse complex)—both of which are situated directly adjacent to campus. An alumnus described Huntington Village to us as having “a community feel; you’re all living there together, but it is not as insular, as on-top-of-each other, as a dorm.”

We asked a first year about his living arrangements, to which he replied, “I’m living in Ivy Garden—located right beside Darden—the most popular place for first years … I would recommend [that] first years, especially international students, stay at Ivy Gardens, because you won’t have much time for anything else. However, if you are coming with a spouse and/or kids and pets, whether you are a domestic or international student, I recommend reaching out to current students or the admissions office for help and advice in finding the right accommodation for your needs.”

A class at Yale School of Management

Yale SOM

“Although graduate student housing is available, the majority of SOM students (an estimated 95%, according to a first year we interviewed) live off campus in the neighborhoods surrounding the university. The East Rock area, also known as “graduate student ghetto” or “Grad Haven,” is on the Yale Shuttle line and has rents averaging approximately $1,500 per month for a two-bedroom apartment. A first-year student told mbaMission that one housing complex popular with SOM students is Mansfield, which constitutes of five buildings a block from campus and less than five minutes from the school.”

MORE HOUSING RESOURCES

Looking for additional information on MBA student housing? Below, you’ll find links to each school’s housing page, which includes information on various housing options as well as services and resources provided by the school in this area.

UC Berkeley (Haas)

UCLA (Anderson)

University of Chicago (Booth)

Columbia Business School

Cornell University (Johnson)

Dartmouth College (Tuck)

Duke University (Fuqua)

Harvard Business School

MIT (Sloan)

University of Michigan (Ross)

New York University (Stern)

Northwestern University (Kellogg)

University of Pennsylvania (Wharton)

Stanford GSB

University of Virginia (Darden)

Yale SOM

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