Shannon College is a residential college, meaning that it can offer students the choice of living in the College apartments or living in private rented accommodation. Accommodation is more readily available in Shannon than in other college towns and as such is reasonably priced relative to other locations in Ireland. Four students share each college apartment. Each apartment has two twin bedrooms, kitchen and bathroom facilities and is located within one mile of Shannon College.

Private rented accommodation is also available in Shannon town. Students with their own transport can also elect to live in nearby Ennis or Limerick. However, first year students are expected (depending on their age and marital circumstances) to avail of the residential accommodation, as it enables them to get to know their fellow classmates and helps them to build up a social circle of friends quickly. Adapting to life at college and the challenges of living away from home and family is made easier if students have a group of friends at college to rely on.

International students coming to Ireland as first year students on the Bachelor of Business Studies degree programme are guaranteed accommodation in college apartments.