Are studio apartments cheaper?

Are studio apartments cheaper?

It’s almost always cheaper to rent a studio apartment than it is to rent a 1-bedroom apartment. However, it’s important to weigh the price tag with the limited space offered in a studio. Studios rents usually run several hundred dollars cheaper than 1-bedrooms, depending on square footage and luxury in question.

Is Chicago rent affordable?

The majority of apartments for rent in Chicago are affordable apartments. Using the search criteria of $1,500 per month or less, about 60% of the city’s listings meet this threshold for a cheap apartment or condo for rent. That’s not to say that rents are trending downward in Chicago.

What is meant by studio apartment?

The defining difference between a studio and 1-bedroom apartment is that a 1-bedroom features a separate bedroom area that is distinct and closed off from the living room and kitchen area. A studio apartment is generally a self-contained space that houses everything in a single room with a separate bathroom.

Is it hard to find an apartment in Chicago?

The Chicago rental market is not as competitive as in other large cities. However, it can still be hard to find the perfect apartment in an ideal location on a budget. Rents have increased slightly in Chicago in the past year.

Can 2 people live in a studio?

Can you have a roommate in a studio apartment? In most cases, you can have a roommate in a studio apartment. Most occupancy standards state that two people per bedroom is acceptable, and a studio apartment is considered to be a self-contained unit with a bedroom.

Why is a studio more expensive than a 1 bedroom?

But the reason is location – in the metros analyzed, studios were typically a third of a mile closer to major job centers than one-bedroom rentals, and dense and desirable urban areas where studios are concentrated can yield higher rents.