Crib question!

First time mom here and I just want to get everyone's input on the crib situation. I live in a one bedroom apartment with my boyfriend so space will be a little tight when the baby comes. I had originally planned to get a crib because that's pretty much standard but now I'm seeing many moms just use bassinets for the first few months. My question is this, is a crib really necessary. Should I just hold off completely on buying a crib since space will be tight? When does the baby typically outgrow a bassinet or pack n play? Thank you for the advice!