I'm sharing a house with another dog owner and it's definitely the way to go. We've got huge, athletic, well-behaved boys who can hold it 12 hours on a bad day. (A mostly black lab and a mostly Swiss.) On a good day they have each other and both the humans and it's a happy happy world.
But I'm premed in the Pacific Northwest. If I go to med school in NY or Boston, I would find a better home for my dog. And I'd maybe lean towards a rural-ish school, if I have the choice.