Is a Diaper Changing Table Necessary?

So, I have a question for you veteran mommas out there- How necessary are changing tables? I'm a preschool teacher with toddlers, and I like having an area with all their diaper changing gear right there and something that's easy to disinfect and clean, but I'm not sure I'm willing to invest the money/space for a table in my own home for my little one due in October, since we live in a very small apartment.

I know plenty of people say they aren't necessary, but then where do you change the baby? What about horrible blowouts? You can't change that on the couch!

Opinions, feedback, practical applications all welcome!