How Big Is a 500 Square Foot Apartment? A Guide for Chicago Renters

Ask any Chicago renter: finding an apartment with the right mix of price, neighborhood, and livable space is like chasing a parking spot in Wrigleyville before a Cubs game. Even we — the Chicago apartment-finding pros — celebrate when we land that perfect apartment.

Square footage is one of the hottest topics we hear about from renters. “I’m looking for something at least 500 square feet” comes up all the time. But what does that actually look like? The truth is, 500 square feet can feel completely different from one apartment to the next. The nuance is in the age of the building (vintage buildings tend to count livable space while modern builds count every inch), and the secret’s in the layout (with smart design, 500 square feet can feel like a hidden gem). A Chicago bonus: place your “small” apartment in one of the city’s best walkable neighborhoods, and your favorite coffee shop, cafe and restaurant become an extension of your pad. 

How Big Does a 500-Square-Foot Apartment Feel?

If you’re trying to picture what 500 square feet actually looks like, you’re not alone. Did you grow up in a 5-bedroom home in the ‘burbs? Or maybe you survived freshman year in a shared dorm room? Depending on your past living situations, you may have a very different idea of how big 500 square feet feels. 

For a little perspective, imagine a standard two-car garage — that’s roughly the same size as a 500-square-foot apartment. In Chicago, that amount of space usually comes in one of three configurations: a studio apartment, a junior one-bedroom, or a “convertible,” a unit that typically includes a bedroom alcove or partial divider to carve out separate living and sleeping spaces. On paper, the average footprint comes in around 20 feet by 25 feet, but the feel of that space can vary wildly depending on the building’s age, floor plan, and design.

So, is a 500-square-foot apartment small? Technically, yes, but perception is everything. A smart layout with open sightlines and natural light can make 500 square feet feel surprisingly spacious, while a choppy floor plan can make it feel like you’re living in a very stylish closet. The trick is knowing how to spot good design, and maybe embracing the art of living a little lighter.

If you’re deciding between layouts, explore our breakdown of Studio vs One-Bedroom Apartments: How Do the Two Stack Up?

What Kind of Layout Does a 500-Square-Foot Apartment Have?

So, what does a 500-square-foot apartment look like? Picture one thoughtfully designed living space that does it all — your living room, bedroom, dining area, and maybe even home office, plus a compact kitchen and a full bathroom. Simple, right? 

But how that space feels can swing dramatically depending on the building, layout, and design details. Whether you’re living in a 1920s walk-up in Lakeview or a glassy new high-rise apartment in the West Loop, the features make all the difference.

Here’s what to look for when you’re renting a 500-square-foot apartment:

Hallways vs. No Hallways

Some apartments have a hallway or entry nook for a bit of privacy, but it can eat up valuable square footage. Others skip the hallway entirely, giving you more usable space and a more efficient layout. On top of that, walking in and seeing the full living area right away instead of just a hallway instantly changes the “feeling” of the apartment.

Galley Kitchens vs. Open Kitchens

Vintage units tend to have cozy galley or U-shaped kitchens that are great for cooking, not so great if you’re claustrophobic. Modern studios and convertibles often go open-concept, where your kitchen blends right into your living area. That openness makes the space feel bigger (and keeps you from missing the game while you stir the pasta).

Closet and Storage Integration

Older units can offer solid closet space, but it really depends on the building. You’ll usually find traditional options like standard wall closets, a walk-in closet if you’re lucky, and maybe a built-in armoire. Newer units, especially when space is tight, often get creative with storage–from hidden cabinetry and built-in organizers to multifunctional furniture that doubles as storage.

High Ceilings vs. Standard Ceilings

A few extra feet up top goes a long way. Many vintage lofts and new high-end units boast high ceilings that instantly make 500 square feet feel way more expansive. Standard ceilings (around eight feet) are common in newer mid-range apartments, but sleek finishes and lighter colors can still open things up visually.

Window Size

Natural light is the ultimate space illusion. Older buildings might have smaller, charming windows, while newer towers lean into floor-to-ceiling glass that floods the space with sunlight and skyline views. The more light, the bigger your home feels, no tape measure required.

The “Bedroom Alcove” Bonus

Some of the best apartments in Chicago sneak in a little extra nook or partial wall to carve out a “bedroom alcove.” It’s not a full bedroom, but it gives the illusion of separation, and makes living in a 500-square-foot apartment feel a bit more like living large.

500 Sq Ft Apartment Walkthrough: West Loop Studio

To show just how different two 500-square-foot apartments can feel, check out these walkthrough videos of real Chicago apartments. They both clock in at exactly 522 square feet, but have a totally different vibe.

• Key features: studio layout, open kitchen, natural light.
• Pros: efficient, airy feel.
• Cons: limited separation of spaces.

500 Sq Ft Apartment Walkthrough: South Loop Convertible

• Key features: designated bedroom area, open kitchen, outdoor patio.
• Pros: feels like a junior 1-bedroom, has outdoor space.
• Cons: less open.

These walkthroughs prove it’s not just the square footage that matters when considering apartments. The layout is key, too.

Comparing 500-Square-Foot Apartment Floor Plans

Spot the differences!

These four floor plans all hover around 500 square feet, yet each feels completely different. Kitchens, closet space, and layouts vary. Notice how the 513 sq. ft. layout is a corner unit with a second set of large window for extra light? Meanwhile, the smallest layout on paper at 505 total square feet is actually a junior 1 bedroom that can fit a up to a queen size bed!

Here’s a helpful way for renters to read floor plans before touring: don’t just focus on total square footage. Look at the shape and dimensions of the actual living area, as well as the bedroom area if there is one. Check the kitchen’s layout and size to make sure it suits your cooking style. If you want the overall space to feel as large as possible, prioritize open layouts with minimal hallways and large windows. Lots of natural light instantly makes even a small apartment feel bigger and more inviting.

But is a 500-Square Foot Apartment Small?

Let’s be honest…yes, a 500-square-foot apartment is small. But in Chicago, “small” doesn’t have to mean cramped. With the right layout and clever design choices, 500 square feet can feel perfectly livable (and even stylish). 

For context, the average one-bedroom apartment in Chicago clocks in around 720 square feet, so a 500-square-foot home simply asks you to live a little more intentionally. Of course, living well in a 500-square-foot apartment comes down to lifestyle.

Embrace Minimalism

This is your cue to edit your life a little. Fewer things mean less clutter, more flow, and a space that feels intentionally curated instead of crowded.

Make Organization Your Superpower

Storage is gold in a small apartment. Use under-bed bins, wall-mounted shelving, and ottomans that double as storage. In older Chicago buildings, a few vintage built-ins might save the day.

Invest in Double-Duty Furniture

A sofa bed or Murphy bed is a classic move. Try a drop-leaf dining table that folds away, nesting coffee tables, or a desk that converts into a vanity. Every piece should earn its keep.

Think Big with Statement Pieces

It sounds counterintuitive, but one large piece of artwork or a bold rug actually makes a small space feel larger and more grounded. Too many tiny decorations can make things feel busy fast.

Smaller Appliances

In some 500-square-foot apartments, you’ll trade a full-size range for a sleek two-burner cooktop or a compact fridge. The upside? More counter space for takeout from your favorite neighborhood spot.

When done right, small-space living in Chicago isn’t a limitation, it’s an aesthetic. And with smart design, 500 square feet can be all you really need.

Is 500 Square Feet Enough for Two People?

Ah, the age-old Chicago question: is 500 square feet enough for two people? The honest answer…it depends. If you and your partner are minimalists with matching calendars and a shared love of takeout, it can totally work. But if one of you is a work-from-home type and the other needs “me time” behind a closed door, things might start to feel…cozy.

Living as a duo in a 500-square-foot apartment works best when a few boxes are checked:

1. There’s a Little Separation

A sleeping nook, divider, or even a strategically placed bookshelf can make a world of difference. Anything that helps one person binge their show while the other gets some peace is a win.

The convertible unit pictured below measures 470 square feet and has a divider wall that separates the bedroom area from the living area.

2. You’ve Got Bonus Storage

Maybe it’s a basement in your vintage walk-up, a storage locker in your managed building, or a spacious balcony that doubles as a seasonal closet (we’ve all done it). Every extra inch helps.

3. You Both Like Small Spaces

It’s as simple as that. If you’re both okay with sharing one closet, one bathroom, and approximately one arm’s length of personal space, you might just be apartment soulmates.

How Many Rooms Are in 500 Square Feet?

In most cases, a 500-square-foot apartment is one main room, plus a bathroom and a small kitchen area. That one big room is the star of the show; it’s your living room, bedroom, dining space, and maybe even your home office (depending on how creative you get with furniture).

If you want a little separation, though, keep an eye out for a convertible. These layouts are a clever step up from a traditional studio, using a partial wall, sliding doors, or even a built-in closet to carve out a sleeping nook. It’s not technically a second room, but it feels like it. A tiny bit of division goes a long way when you’re trying to make 500 square feet feel like a full-fledged home.

Tips for Living Comfortably in a 500-Square-Foot Apartment

Living in a 500 square foot apartment doesn’t mean sacrificing style or sanity. With some smart choices, you can make a small space feel surprisingly open, intentional, and cozy. Here are some of our favorite space-savvy moves:

Choose Your Furnishings Wisely

Think of your furniture as employees in a very small company…everyone’s gotta pull their weight! 

• Modular sofas you can rearrange depending on the day
• Fold-down dining tables that disappear when you don’t need them
• Storage beds (or at least frames with room for bins underneath)
• Ottomans with hidden storage so you can clean your space in under 30 seconds when someone texts, “I’m downstairs.”

For more inspiration, check out our guide on 10 Tips for Making a Small (or Not-So-Small) Apartment Feel Bigger.

Chicago Market Context: Where You’ll Find 500 Sq Ft Apartments

If you’ve been scrolling Chicago listings, you’ve probably noticed that smaller apartments are everywhere downtown. High-rises in The Loop, River North, Streeterville, the West Loop, and Lakeshore East are packed with studios, convertibles, and junior one-beds in that 500-square-foot sweet spot. 

These buildings often make up for less interior space with the kind of amenities that turn your home into your hobby: rooftop pools, coworking lounges, gyms that rival boutique studios, and views that genuinely hit at sunset.

But don’t sleep on those more neighborhoody spots. Older courtyard walk-ups in Lincoln Park, Lakeview, and Uptown have been doing efficient studio layouts since long before “micro-apartment” became a buzzword. These vintage buildings may skip the amenity package, but they’ve got charm, personality, and the kind of tree-lined street energy Zillow can’t capture.

Stephanie Caine

Pro tip: Always tour in person. Even two apartments with the same square footage can feel wildly different. Layout, ceiling height, window size, and flow matter more than the number on the listing. The floor plan may say “500,” but your eyes (and your vibe) know the truth.

FAQ: 500-Square-Foot Apartments

How much does 500 square feet cost in Chicago?

Expect roughly $1,600 to $2,700 per month, depending on location, finishes, and building perks. A sleek convertible in a full-amenity West Loop tower will land on the higher end; a classic studio in a walk-up near the lake might be closer to the lower end.

Is 500 square feet a tiny home?

Technically yes, it falls under the “tiny home” category, though apartments differ in layout.

What’s the best layout for a 500 sq ft apartment?

Open layouts with minimal hallways maximize usable space.

How do you maximize space in a 500 square foot apartment?

Multi-use furniture, vertical storage, mirrors, and decluttering.

Is 500 square feet a good size for one person?

Yes, especially for renters who value location, finishes, or building amenities over space.

Ready to Start Your Chicago Apartment Search?

Turns out, your apartment’s square footage is less about the number and more about the vibe. Remember, two apartments with the same square footage can feel completely different, which is why we always recommend touring in person before signing a lease. 

If you’re ready to start looking, the team at Hotspot Apartment Rentals in Chicago is ready to match you with the perfect apartment.