I'm sorry. I missed something in the original post. I didn't realize it was a total of 5 women in one room, I thought it was 4 total. That's going to be far more limiting in terms of room choices. Value rooms, unless you get 2 for your party, are out. I'm not sure how many moderates, if any, accommodate 5 adults, but you can be sure if any do, it'll be cramped. And while I know many of the DVC rooms are getting a smaller additional bed to accommodate parties of 5, I'm not sure how many of those are studio rooms. Renting points to get a 1BR villa, which would better accommodate 5, is not really going to save you any money for reasons I won't bore you with now.
You'll be better off getting 2 Value rooms (or a suite at All-Star Music or Art of Animation), or, if your budget allows it, 2 moderate rooms. If you opt to rent points from a DVC member, rent enough to get 2 studios. Even if the room allows 5, you won't want 5 adults to share one bathroom.
Another final option would be the cabins at Fort Wilderness. There you're still stuck with only one bathroom but the cabins easily sleep 6. It also gives you a full kitchen, which will allow you more opportunities to make your own meals and save more money that way.
EDIT - someone on another WDW forum set up this spreadsheet, and did it recently, that helps identify which DVC studios will sleep 5 (techincally "up to 5 plus 1 child under 3"). Looks like, at the moment, it's Boardwalk, Wilderness Lodge, Polynesian and Grand Floridian. Others are saying DVC will still allow 5 in most studios (maybe not BLT due to their smaller size), but the 5th would be considered a day guest and you wouldn't be able to get the dining plan - which is probably a moot point in this case since the OP probably won't want the dining plan. I'd probably not chance any room unless it's specifically considered OK for a party of 5
https://onedrive.live.com/view.aspx?resid=E410D69A4AFE1054!100362&ithint=file,xlsx&lor=shortUrl&app=Excel
