A value studio is at Jambo House. It is a little smaller than the regular studios. DVC studios are all one queen bed and one pull out couch, except for OKW, which is two queen beds. Some studios can sleep 5, with a single Murphy bed, however a value studio will only sleep 4.
I haven't stayed in a value studio, but I did a lot of research because we rented DVC points a couple of years ago (stayed in a 1 bedroom in Kidani), but my understanding is that there aren't very many value studios, and they are very hard to get. If all you can afford is a value studio, I'd have a backup plan!
The value studios are located on Giraffe and Ostrich trails, the front hallways, of AKL Jambo house. Jambo is the main lodge which also has regular deluxe rooms. The value DVC studios are on the 5th floor and have various views. Unlike the standard and savanna view villas located on Zebra and Kudu trail in Jambo, the value villas do not have a sleeper chair, so the sleeping arrangements are 1 Queen size bed and a sleeper sofa. The studios are 316 sq. ft. compared to a POP room which is 260 sq. ft.
Other differences are that you'll have a balcony with your room and a microwave & small fridge. There is a free laundry room for DVC use as well.
Depending on when you want to go to WDW, it is possible to secure a value villa, but they are quite popular because they cost so few points. You probably need to work with someone who has AKV points (either directly or through a broker.) And you need to be ready to make your reservation by the time the 11 month window opens (eg: 11 months before your planned vacation.) good luck w/ your decision - I love AKL.
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