Honestly, it depends on the project, and both paths have real strengths. Recording at home costs nothing per hour, runs entirely on your schedule, and asks almost nothing in the way of logistics. For songwriting, demos, solo vocals, or a small podcast episode, a quiet bedroom and a decent mic can genuinely be enough.
The catch is what a home setup can't easily give you. According to
ProStudioTime, professional rooms win on live tracking, isolation, deep equipment, and an experienced engineer, while home setups win on cost and flexibility, with typical pro rates running about $30 to $300 an hour. A booked studio also has the square footage and isolation to track a full band or seat a whole podcast panel, which a spare room rarely does.
Noise is the other quiet dealbreaker at home. The
Municipal Code of Chicago limits amplified sound on private open space between 10 p.m. and 8 a.m. to no louder than average conversational level heard 100 feet from the property line. So, a late-night session in a residential building can put you crosswise with the rules fast. If you want treated acoustics, an engineer, and room to move, a rented studio earns its rate. If you just need a rough take down, home works fine. Seeing how local artists actually use rented rooms can help you decide, and these
music video locations in Chicago are a good scroll for inspiration.
Pro tip: Booking a private studio through Peerspace comes with a quiet perk: because you're recording in a private, booked room rather than a park or another shared public spot, you skip the permit and licensing hassle those outdoor locations can require.