When looking into Savoy apartments, the first question that likely comes to mind is whether the rent is adjusted to student prices, given its proximity to the University of Illinois, or if it is not significantly different from the general family market. By examining each unit type, the answers begin to emerge.

How much does a studio cost? It averages around $830 per month, with an average size of 460 square feet. This unit is primarily sought after by individuals staying temporarily, such as graduate students or visiting researchers.

So, how much difference is there for a one-bedroom? It averages around $980 per month, with about 700 square feet. This is about $150 more expensive than a studio, but it has a separate bedroom, making it preferred by couples in doctoral programs or visiting professors.

What about a two-bedroom? It averages around $1,220 per month, with 990 square feet. This price range overlaps with student groups sharing costs and young families with one child.

How does a three-bedroom compare? It averages around $1,480 per month, with 1,220 square feet. Families with two or more children or groups of three roommates typically seek this unit.

Which units are most available? One-bedroom and two-bedroom units are the most common, and newer complexes closer to the university tend to have a higher proportion of these two types. Three-bedrooms are relatively more common in complexes that are a bit farther from campus.

Here's a summary of the rents by unit type:

• Studio: $830 per month, about 460 square feet
• One-bedroom: $980 per month, about 700 square feet
• Two-bedroom: $1,220 per month, about 990 square feet
• Three-bedroom: $1,480 per month, about 1,220 square feet

So, what does the rent gap mean? The difference between a studio and a one-bedroom is $150, between a one-bedroom and a two-bedroom is $240, and between a two-bedroom and a three-bedroom is $260. While the gap increases slightly as the number of rooms increases, Savoy's overall rent levels are lower than in other Illinois cities, resulting in a smaller gap.

If you are a Korean household, it's advisable to first check the distance between your child's school and the university campus. If your purpose is visiting research or a short stay, a studio or one-bedroom may suffice, but if you plan to settle down with children, looking for a two-bedroom or larger unit a bit farther from campus may be more budget-friendly.