I just finished my MSI year at NYU.
My cost of living is actually pretty reasonable because I live in a dorm. Rent is $610/month and all utilities are covered. I wanted a large hospital and most other big hospitals are in places you don't want to live and even then it's tough to get by in Miami, LA, etc for less than $1,000 including utilities.
My commute also rocks (the dorm is connected to the same building MSI/II classes are held, and is also connected to Tisch, our University hospital, and a 100 yard walk to Bellevue our public hospital). The neighborhood is safe, def. best med school location in the city.
Bellevue is also pretty amazing. I've been working in the ED for a few weeks and it's def plenty busy with med students given a fair amount of responsibility.
I miss driving. I wish I lived in an apartment (my room is 11x14, I have my own sink, the bathroom and kitchen is shared and co-ed). We are also pretty far from the subway. It's about a 12 minute walk.
If you have any specific questions about NYU feel free to PM me.