Since many of you requested more information regarding housing at MIT, I figured I could balance the strange feeling of having to leave my dorm soon with the happiness of sharing with you my experiences.
Most of the MFins chose to live on-campus, and that is mainly because it is often more convenient. Ok, you might find cheaper places if you don't mind living off-campus, but the MIT dorms provide us with all utilities and facilities we need to keep our focus on studies. There is no need to spend too much time doing laundry, since the dorms have many washing/drying machines. Group study meetings are much easier since there are several study rooms available and your classmates will all live close to you. Arriving at school on time is much easier, since we have 'free' shuttle buses on our door every 10 minutes. Common kitchens allow us to enjoy dinner with friends quite often. Reasonably good gyms allow us to be healthy without have to leave the building. Dorms also offer a wide variety of entertainment options, from movies to bycicles. Oh, and dorms also promote many events, such as interesting talks, cooking competitions, free brunch every month and free coffee hours every week.
Living off-campus, however, gives us more flexibility in terms of location and overall living preferences. It may also help us avoid a small inconvenience that MFins might have to go through. MFins start school in the summer, when dorm rentals are still not available. That is why MIT allows us to sublet a room from someone else while we wait for the move-in date. I know, the moving can be troublesome, but for most of us, who moved from our countries far away, it is not too bad.
If you do choose to live on-campus, there is still one more decision to make: which dorm? MIT offers graduate students a wide array of options. The majority of MFins stay in either Ashdown House or Sidney Pacific (these are literally a 2-minute walk apart). Ashdown is a bit newer, has a modern look and features its own pub. Sidney Pacific, where I live, is larger, has overall more spacious rooms and features its own cafe. Both dorms are very close to the supermarket.
Whatever decision you make, Cambridge is a very nice city that breathes knowledge and the atmosphere at MIT. Wherever you live, you will quickly be dragged into the intense mindset of studies and work, and most probably your dorm will only be a place to sleep (or work some more!) after a day of challenging endeavors!