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

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