I dont know what your chances are of qualifying financially, but you can certainly find out.
You might want to consider that the out of pocket monthly expenses to own a studio apartment are slightly less that renting, according to industry statistics. It seems to me that part of your decision would also be based on how long you plan on being in the city.
Therefore, owning may be financially feasible, and advantageous . After all, you can build equity while you are living in your home, My advice is to consider this decision in the context of your long term life plans and if it works for them, it will probably work for you.