Renting a studio apartment in Chicago will save on monthly rent in exchange for less space. Spending a bit less on rent than more generous apartment floor plans may put money back into renters’ pockets for other expenses, such as parking or groceries. If you can do without certain luxuries, say having a car, renting a studio apartment could still be a reasonable bet. Studio apartments provide excellent access to public transportation and the city's best amenities -- most of them within walking distance. Keep in mind that the affordability index of apartments in Chicago tends to go up the further you get from downtown.
Studios for rent may not be the way to go for every renter. But for those who embrace the minimalist lifestyle, studios mean you get more familiar with the space surrounding your apartment rather than its contents. It’s an excellent way to get to know the area if you’re new to Chicago or have recently moved to an unfamiliar neighborhood. And don’t forget the most important thing about renting studio apartments: you can save money on rent.