Your options for five are (
point charts can be found here
http://www.wdwinfo.com/disney-vacation-club/DVCpoints.shtml):
1. 2BR's (not at Poly except for extremely expensive bungalows): Costs less than separate studio and 1BR in the same resort/booking category. All the WDW resorts, other than Poly, have 2BR lock-offs (which can be separate studio and 1BR). All except BWV and the Jambo building (a booking category) at AKV also have dedicated 2BRs, meaning rooms that can only be 2BRs and have a single entry door; those are a separate booking category from lock-offs. The 2BRs are huge in comparison to two studios and have a living room, kitchen and w/d, two bathrooms except three at BLT and AKV Kidani building, and the master bath is a large bath with separate tub and shower (except at Jambo where it is combined). If what you want includes the amenities of a 2BR and lots of space that can hold 5 with great comfort, then consider a 2BR.
2. 1BRs (not at Poly): significantly larger than two studios and have everything the 2BR has except the second bedroom/studio and the bathroom in that bedroom. VWL, BCV, BWV, and SSR have only sleeping places for four -- a king in the master bedroom and couch pull-out queen in the living room. For those, DVC actually allows five but provides no bedding options for the fifth (you have to bring your own). The 1BRs at AKV (other than value), BLT, and OKW have an additional pull-out twin size bed in a large chair in the living room and thus can sleep five; VGF has a pull down murphy bed from the cabinet below the TV in the living room and thus also sleeps five. Those at AKV Kidani and BLT also have a second full bathroom. Particularly at the ones that have bedding for five, you can easily have five and get the amenities, including full kitchen and w/d, although not as good as having the 2BR. It is definitely the option rather than two studios if you want the room amenities and have all in one room.
3. Studios: two studios usually cost in the same approximate range as a 1BR, sometimes less, sometimes more, depending on view and time of year. Having them close to each other is a request that they will try to meet but is not guaranteed. If what you want is just a basic room without living room, kitchen and w/d, and have the five in separate rooms, two studios would be the choice over 1BR. You can put five in one studio at VWL, BWV (not all rooms done yet), VGF and Poly because they have an additional murphy bed that pulls down from the cabinet below the TV. BCV will be added to that group following a renovation to be done next year. Five is a tight fit in any studio even the larger ones at VGF and Poly and if you are looking at cost, the ones at VGF and POLY are not your lower cost options.