Are there cheaper places closer or as close to Ross School of Business? Yes.
But is there a new building (2-3 years old) with a gym and outdoor running track all-inclusive this close to Ross? Nope.
Having building controlled heat/cooling is definitely not ideal and living with 5-6 other grad students may not be your ideal option (weigh this heavily). I happened to luck out with 6 complete strangers and a wonderful living situation...
Also, coming from a Californian, you get used to not having natural light in your personal room as the common areas have large windows. Sounds unbearable but it's AMAZING for mid-day naps.

Live with 6 other students from different schools. Each apartment is close to 3000 sq. ft., well-upholstered with everything you need in the apartment (washer, dryer, 2 microwaves, 2 stoves, 2 large fridges, etc.);

General amenities are also great - study rooms, music room, running track on top floor, gym, game equipment, video room, cycle storage, etc.

They do not offer 9 month leases (which is a disappointment), but not very expensive ($~875/month); Campus is between 7-9 minute walk.

An extremely nice apartment with all utilities included and more amenities than you will use. Living with graduate students in other schools allows you to interact interesting and fun people of similar ages without having to feel like you are smothered by discussions of assignments, exams etc. of your school when you are at home. A fun escape for people that like having roommates. Private bedroom and bathroom when you need your own space.

Munger is a fantastic living environment if you don't mind walking 15-20 minutes to the medical school every day (and/or allotting time to take the bus). Each resident has their own bedroom and bathroom, but shares a spacious common space/kitchen with 5-6 roommates. Your roommates are typically from other graduate programs, seeing as the purpose of Munger is to promote interprofessional collaboration and communication. In terms of amenities, there are beautiful study rooms, a gym, a movie theater, game room, and small store as well. It is extremely secure as well.

very comfortable housing

No windows but close to Ross.

Very convenient

I personally have loved my experience. I think that it is an exceptional value for the price! However, you live in a suite with 6 other students from graduate programs across the entire university. If you don't like living with people, this place is not for you. If you have very particular living requirements and expectations then this is probably not the best option for you.

Munger is excellent if you don't mind roommates and don't have a car. All utilities are included in rent and you have your own bedroom and bathroom. You're not able to choose your roommates (you will have up to 7 roommates) and space is a bit type. No parking available on site but you can rent spots from landlords around A2. Munger is nearly brand new and has fantastic amenities. It's close to the business school and downtown.

I have really enjoyed the trans-disciplinary life at Munger as it helped me break out of the business school bubble. It is also a very convenient housing option with all furnishings, facilities and a great location.