Meghan Markle and Prince Harry to Live in Apartment in Nottingham Cottage

Meghan Markle will not be living in royal opulence ... not by a long shot.

She'll be moving into Harry's bachelor pad -- aka, Nottingham Cottage. It's a 2-bedroom, 1,324-sq ft home ... closer to a nice apartment than a royal abode.

The Cottage sits on the grounds of Kensington Palace, a stone's throw from where William and Kate live. William and Kate have 22 rooms.

BTW ... Harry will not be the first Royal to live with his fiancee before getting hitched. William and Kate shacked up before their 2011 nuptials.

As for whether Meghan and Harry will live in the Cottage after they get married ... nothing's been made public.