For the budget-conscious Chicago renter, one question usually trumps all others: where can I get the most bang for my buck?

The city has a lot to offer in terms of rental housing, from bungalows to brownstones, trendy lofts and vintage design, rehabs and homey studios, you just need to know your priorities. Would you sacrifice location for more space or prefer a smaller unit that’s ideally located instead, a home that’s close to your job or other daily destinations?

Generally, smaller apartments provide a cheaper option for the city’s many renters who seek both sustainability and comfort in their apartment choices. Thus popular neighborhoods like Lincoln Park, Lakeview or the Gold Coast where real estate is a hot commodity become totally accessible. By providing the most detailed information and daily updates on great apartments for rent in Chicago, RentCafe has helped hundreds of residents find the perfect studio for them to call home.

View into Lincoln Park. Image via Oinkety

Micro Living, Yea or Nay?

I must admit I’m one of those people who had their doubts about micro living being a smart housing solution. But seeing more and more small apartment residents satisfied with their choices made me curious so I started digging deeper into the depths of tiny housing. Indeed there are certain undeniable advantages to small apartment living but there are also some major challenges that you’ll have to deal with. Here are a few things to consider before taking the plunge.

Keep your home neat and tidy. First of all, in order to live in such a place you need to be a totally organized person. No room for clutter there. Everything must be kept in its exact place, neat and orderly, for this type of accommodation to work out. On the cool side though, virtually any cleaning task becomes easier as there’s not much space to clean.

Image via Apartment Therapy

Turn to space-saving furniture. To make the most out of a small apartment, you will need some clever fixtures and multi-functional accessories, like folding beds that turn into work desks, wall mounted bike racks and hallway storage above doors. If you’re a fan of DIY projects and possess a creative mind as well, this is the perfect project for you to embark in.

Image via Home-Designing.com

Focus on coziness and warmth. Tiny homes are always problematic in terms of interior décor as you need to focus more on practicality and comfort than aesthetics. Yet there are ways to improve home design, ever if you’re tight on space. A vintage painting or a photo print decorating a plain wall, a beautiful flower arrangement to liven up the place, a quirky lamp adding a modern touch to a cozy nook, these are all details that can enhance the looks of your apartment.

Image via RentCafe

Downsize and save on rent. On the plus side, living in a small apartment generally means you’ll be shelling out less money per month for housing costs. The Buena Terrace apartment community at 4242 N. Sheridan Rd. in Chicago’s Buena Park neighborhood, for example, offers a great location, just minutes from Wrigley Field and Montrose Harbor. The apartment homes feature hardwood floors, modern kitchens with granite countertops and stainless steel appliances, and private balconies. Rents for studio apartments start at $895 with one-bedrooms coming in at $1,020/mo.

Image via RentCafe