Renting a studio apartment in Chicago will save on monthly rent, in exchange for less space. Spending a bit less on rent in comparison to 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 like having a car, then renting a studio apartment could still work out to be a reasonable bet. Studios provide great access to public transportation as well as the best amenities the city has to offer -- 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.
A studio apartment 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 the contents within it. It’s a nice 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 a studio apartment: you can save money on rent.