Do most NYC interns commute?

I'm on the final round of interviews (I've passed all the technical ones) for a startup that's located in midtown. I'm really looking forward to interning at this company for many reasons. The only thing I'm worried about is housing. Here's what I know:

• housing is not provided
• breakfast, lunch, and dinner are not provided
• according to glassdoor, I'll be making between $35 and $50 an hour (I'm guessing ~$40/hour)
• according to zillow, apartment prices in midtown start around $2,200/month

My salary translates to about $5,000 to $7,500/month gross. I'm guessing taxes and what not will cut this down to about $3,000 to $4,500/month. That means that housing is going to be at least half, if not two-thirds of my net salary. This does not include other living expenses like food.

Is this normal? Do most people spend this much of their salary on living costs? What is it like to live somewhere else, and commute in? Do you think it's worth it?

If everything goes through, I will be there in the fall (not the summer), so summer housing might not be an option.