Is a studio apartment cheaper than a one bedroom? Yes, a studio apartment is almost always cheaper than a one-bedroom apartment in terms of a total dollars per month, but usually more expensive on a dollar-per-square-foot basis.
Quick Summary Video (if you prefer)…and then keep reading…
What do you mean by more expensive per square foot?
Let’s say that you see a studio listed at $1,500/month and a 1 bedroom listed at $1,800/month…but if the studio is only 500 square feet (that’s $3/sq foot) whereas if the 1 bedroom apartment is 750 square feet (that’s $2.4 per square foot).
In this example, you are paying less per month, but 25% more per square foot.
Does it matter if I am paying more per square foot?
Probably not if you don’t need the space. It’s a personal preference, but just something to be aware of.
What is the Definition of Studios and One-Bedroom Apartments?
A studio apartment basically merges the dining area, kitchen, bedroom, and living room into a single room. There usually aren’t separation walls, except for the bathroom.
On the other hand, a one-bedroom apartment usually includes a separate bedroom and a defined living area. The kitchen may also be separate depending on the layout of the apartment.
As a rule of thumb, one-bedroom apartments are also typically larger in size than studio apartments and offer distinct living areas.
Differences Between Studios and One-Bedrooms
Apart from the layout and size, there are some other differences between a studio and one-bedroom that you will need to consider if you are choosing between studios and one-bedroom apartments.
Cost
A studio apartment will almost always cost less to rent than a one-bedroom apartment in the same area. But it is important to keep in mind that the lower rent directly corresponds to a smaller space and usually you are paying more per square foot for a studio apartment.
If your biggest priority is the total dollar cost, a studio will almost always be cheaper.
Utility Usage
Utilities will depend on the way you use the apartment and how utilities are billed, so this is difficult to predict. For example, if you are prudent in a one-bedroom with your electricity consumption but have your heaters and air conditioners on all day in a studio, then you will pay more for utilities in the studio (all else being equal).
There are a lot of factors that go into utility cost so this is a difficult assumption to make.
Privacy
This depends on whether you are living alone or intend to share with a roommate. If you are planning to share with someone else, then a one-bedroom apartment may be a better choice to help maintain your privacy.
Entertainment
This depends on the number of people you want to entertain at once. But a studio apartment will likely be more cramped for space compared to a one-bedroom.
Working from Home
If you intend to work from home, then you may prefer the separation of a one-bedroom apartment. That being said, you could also create a segregated workspace within your studio too.
How Much Does a Studio or One Bedroom Cost?
The cost of a studio and one bedroom will vary dramatically by market. As mentioned earlier, a studio apartment is almost always cheaper than a one bedroom in total dollar outlay. As a rule of thumb, based on our experience, a studio apartment can be about 5% to 20% cheaper than its one bedroom counterpart.
What factors affect price of studio and one bedroom?
The biggest factors that will affect price are the size, upgrades, and view. If you are looking at a specific floor plan at an apartment building, and you see some studios or one bedrooms at a certain price and wondering why some floor plans are more it is usually because of size (bigger will cost more), upgraded features, or a premium view.
From our experience, the quickest way to get a glance of cost difference is to go on apartments.com. Once you are on this listing, you can easily toggle between studio, one bedroom and two bedroom.
