The six-story building houses 450 residents and includes central air conditioning and private bathrooms.
Around 400 dorm residents will be staying on campus.
The board is having hearings throughout the week.
At some apartment buildings, rent can be more than $1,200.
Students must make their decision by 7 p.m. Friday, according to an email sent to residents.
Some students have struggled to make friends.
The first dorm is named for Hiram Whittle and Elaine Johnson-Coates and the second is named for Pyon Su and Chunjen Constant Chen.
The directors of Residential Facilities, Resident Life and Dining Services provided updates to the RHA.