If you’re looking to move into a major city like New York, you may be considering a small apartment to save money. The cost of living is high in cities like these, so studio and one-bedroom apartments are very popular. If it’s just you or you and a roommate, a studio or one-bedroom apartment may be just right. To help you decide which is right for you, take a look at the comparisons below.
What Is A Studio Apartment?
If you aren’t familiar with the concept, a studio apartment is a small apartment with no interior walls. The living room, bedroom, and kitchen all share a common space. The bathroom, however, is a separate room with a closing door for privacy. Renting a studio apartment rather than a one-bedroom apartment can save you money, but you’ll sacrifice space and privacy to do so. On the upside, a studio apartment has a cozy feel bigger apartments don’t have.
The Cost Of A Studio Apartment
The average cost of a studio apartment in the United States is just over $1,000 a month. With that said, in Cedar Rapids, IA, you’ll pay about $425 for a studio apartment, and in Dublin, CA, you’ll pay as much as $2,000 or more per month for this one-room rental.
What Is A One-Bedroom Apartment?
One-bedroom apartments are typically more spacious than studio apartments. The bedroom, kitchen, bathroom, and living room are all separate spaces divided by walls. In some instances, a kitchen/dining area may be combined to create an open floor plan.
The Cost Of A One-bedroom Apartment
The average cost of a one-bedroom apartment in the U.S. is a little more than $1,200 with the most expensive units being in Marina del Ray, CA where rent for such an apartment is $3,500 a month. One-bedroom apartments go for much cheaper in Odessa, TX where tenants pay just shy of $500 a month.
The Key Difference Between One-Bedroom And Studio Apartments
Aside from their size difference, the difference in monthly rental cost is what drives most people to seek studio apartments over their one-bedroom counterparts.
While rental costs vary from location to location for both types of rental units, the reality is there is only about a 5-percent difference between studio and one-bedroom apartments. As such, it’s really up to you to decide if this minimal amount is worth the sacrifice of space and privacy.
So, if you’re on the fence as to which type of apartment is best for your needs and lifestyle, consider how much space you’ll need for things like storage, work, roommate, etc., and then figure out what fits your budget best. Don’t let the monthly rent be the only factor that sways your decision.