I live in a 600sf studio apartment in Brooklyn (that costs as much per month as a mortgage on a mid-sized house!). The gear needed to develop BW film takes up less space than a blender and 1 liter of soda. Go for it! It's SO much fun and SO satisfying to develop yourself. Completely changed my attitude re: shooting film.
Scanning is another issue, but it's easy if you have a digital camera, tripod, macro lens and lightbox. Or get an Epson V600 (@$200).