Lay of the Land:
East Falls is a community bordered by the schuylkill river and 76 to the South, Route 1 to the West, the rolling and rocky expanse of Fairmount park to the North and East. All of "civilization" extends down hill from the school towards the river. East Falls proper (at the bottom of the hill) has a several deli's, a pizza place, a coffee house, and a mexican restaurant. Nearby Manayunk has a very active night life making parking a problem on the weekends if you live there (as I do). Manayunk has plenty of dining options though -- a late night (3 am and 24 hr on weekend) diner, movie theater, several bars, greek restaurant, indian restaurant, 2 sandwich shops, 3 coffee shops, and several upscale restaurants. Up on higher ground, Ridge Ave cuts past queen lane and continues Eastward where several strip malls offer all the junk food that makes up your pre-exam meal diet. There are also some modest apartment buildings here but I wouldn't recommend them because the distance:expense ratio doesn't make it worthwhile.
Apartment Complexes:
School Lane House:
Big 50s style apartment complex, your cheapest bet with cramped "1 br Junior apt" going for around 600 when I looked and larger, but still small apts around. Most students end up here but it's not the nicest. Doorman. 3 blocks from school
Empyrean:
Huge megaapartment complex. Lacks student population. Pretty nice from what I've seen but the surrounding area is less nice. I would have a small nagging fear about safety here. Doorman. Short drive from school.
Alden Park:
Gorgeous prewar apartment with big lofty rooms and wrought iron factory windows. Gated parking. Doorman and many amenities (gym, pool, etc.) The others have amenities too but I'm not sure exactly what they are. 3-4 blocks from school. Obviously the most expensive but great if you can find 2-3 others to go in with you and can grab one of the great 3 bedroom spaces.
Smaller Apartment Complexes:
All dot queen lane (across the street from school) Charlwin apts and 100% occupied by drexel med students. Good location. Not sure on price. Con: you never leave school.
Rental/Housing (need car):
Indian Queen Lane (East Falls):
Big old houses abutting MCP hospital. Cheap if you go with roommates. All have basement, roomy front porch, and big backyard. Mostly drexel students but some from neighboring Philadelphia U, St. Joseph, etc.. (10 blocks from school)
Manayunk (Manayunk):
Great location but 5-10 min drive to campus. Rent reasonably priced and walking distance to manayunk events. Row homes often rent out the top two floors or bottom floor + basement.Parking can be a problem on weekends as the town fills up. But study spots in coffee shops are within walking distance.
Off-Off-Campus (Living in Center City):
Another great option that a dedicated group of students choose. Maybe better as a second year option because if you do it first year, it's hard to meet people because you're always commuting. You do the reverse commute (going outbound when everyone is coming inbound). Look for Museum Towers, 2801, or big housing in "Art Museum Area". Commute is 15-20 by car with no traffic. Averages about 30 in A.M..