Furnished Apartments In The GTA Are Actually Cheaper & Here's How Much They Cost To Rent

Might be worth giving up your Pinterest mood board to save some cash.

Toronto Associate Editor
Toronto apartment buildings.

Toronto apartment buildings.

It might be time to rethink your apartment dealbreakers, because it's actually cheaper to move into a fully-furnished rental in the GTA than an unfurnished one.

That's according to a recent report from rental platform liv.rent, which shows it's typically cheaper to settle down in a furnished unit than to opt for an unfurnished apartment.

On average, the report shows that renters across the GTA can save $120 off their rent if they choose to go for an apartment that comes fully furnished.

The average one-bedroom goes for $1,656 a month if it's furnished, according to the report, while its emptier counterpart costs $1,776 each month.

The exception to this is for one-bedroom downtown units — renters are shelling out $2,044 a month for their unfurnished units right in the heart of the 6ix, while furnished one-bedroom apartments actually cost more at $2,248 a month.

Anyone on the hunt for a furnished three-bedroom apartment in the 6ix is in luck though, because the ones downtown actually boast the cheapest rent across the GTA for their size at $2,792 a month.

According to the April market report, rent has stabilized in most of the GTA, with prices for unfurnished one-bedrooms costing just $4 more this month than in March.

"Although rent prices may be considerably higher than they were this time last year, it's a relief to see some stability in the area's rental market," the report reads.

Here's what the average rent looks like across the GTA for unfurnished and furnished one-bedroom apartments:

  • Downtown Toronto — $2,044 unfurnished, $2,248 furnished
  • North York — $1,830 unfurnished, $1,804 furnished
  • Etobicoke — $1,783 unfurnished, $1,714 furnished
  • Scarborough — $1,672 unfurnished, $1,517 furnished
  • Markham — $1,794 unfurnished, $1,201 furnished
  • Mississauga — $1,816 unfurnished, $1,696 furnished
  • Brampton — $1,623 unfurnished, $1,434 furnished
  • Vaughan-Richmond Hill — $1,647 unfurnished, $1,630 furnished
Outside of the GTA, it is cheapest to rent an apartment in Milton, while it's most expensive to find a place in Oakville.
Alex Arsenych
Toronto Associate Editor
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