Furnished vs. Unfurnished Apartments: Which One Is Right for You?

As part of your apartment search process, one major decision is whether to rent a furnished or unfurnished apartment. Both options have their own set of benefits and drawbacks based on budget, lifestyle, and plans. Whether you're a student looking for convenience, a professional relocating for work, or a family looking for long-term stability this guide provides everything you need to know to make the best choice possible.

What Are Furnished and Unfurnished Apartments? 

Furnished Apartments

A furnished apartment is equipped with essential furniture and appliances such as:

• Beds and mattresses
• Sofas and chairs
• Dining table
• Basic kitchen appliances

These apartments are popularly targeted towards short-term renters, students, and professionals looking for hassle-free living arrangements.

Unfurnished Apartments

An unfurnished apartment often does not include furniture but may feature:

• Major appliances (stove, refrigerator, and dishwasher)
• Light fixtures
• Built-in closets

Unfurnished rentals are increasingly popular with long-term tenants looking to customize their space with furniture and decor that fits them.

Pros and Cons of Furnished Apartments

Advantages

• Move-in Ready: No hassle with buying or moving furniture - ideal for quick relocations.
• Short-Term Flexibility: These furnished apartments can provide short-term solutions, perfect for students, ex-pats, or temporary assignments.
• Lower Upfront Costs: No furniture shopping or delivery expenses will incur.

Disadvantages

• Higher Rent: Furnished apartments typically cost 15-20% more than unfurnished ones.
• Limited Customization Options: Furniture may not match your style or needs perfectly.
• Wear and Tear Fees: Security deposits may include extra charges for furniture damage.

Pros and Cons of Unfurnished Apartments

Advantages

• Lower Monthly Rent: Unfurnished units tend to be less costly in the long run.
• Customize: Bring your furniture and customize the space according to your style.
• Greater Availability: Most apartments on the market are unfurnished, giving you more choices.

Disadvantages

• Higher Upfront Costs: Furniture will need to be purchased and potentially moving expenses paid.
• More Effort: Setting up your apartment from scratch will take more effort and time than renting furnished housing.
• Longer Commitment: Furnishing may not make financial sense if you intend to move soon.

Cost Comparison Between Furnished and Unfurnished Apartments

Monthly Rent Differences

Furnished apartments generally come with higher rent due to the added convenience they provide:

• Los Angeles: Furnished 1-bedrooms average an estimated rent of $2600 while unfurnished ones cost an average of $2200 monthly.
• New York City: Furnished units can cost $4,000/month compared to $3,200/month for unfurnished apartments in terms of monthly costs.

Upfront Costs

• Furnished: Security deposits for furnished apartments may include additional furniture wear and tear fees.
• Unfurnished: Typically costs $3,000-$5,000 in essential furniture costs, depending on their size.

Long-Term Savings

• When staying for more than two years in one location, unfurnished apartments usually end up saving money due to reduced monthly rent payments that offset initial furniture purchase costs.

Flexibility and Lifestyle Considerations

Who Should Consider for Furnished Apartments?

• Students: With limited time and resources at their disposal, furnished units make for ideal options.
• Digital Nomads: Letting contracts with flexible lease terms that accommodate remote work lifestyles is highly attractive.
• Temporary Relocators: Professionals on short-term work assignments often prefer move-in-ready spaces for their short stays.

Who Should Consider Unfurnished Apartments?

• Long-term Renters: They will find unfurnished units more appealing due to the personalization and cost-efficiency available through unfurnished rentals.
• Design Enthusiasts: Decor lovers may prefer unfurnished units as it give more freedom for designing their space.
• Long-Term Residents: Furniture can pay for itself over time when rented for several years at once, providing cost savings down the line.
• Couples or Families: Furnishing spaces according to specific needs and tastes is often top of mind for families.

Impact on Moving and Relocating

• Furnished apartments: Best for renters who move frequently as it alleviates the hassle of transporting furniture.
• Unfurnished apartments: Ideal for renters with established roots or those moving infrequently, as furniture investments pay dividends over time.

Real-Life Scenarios Furnished  vs. Unfurnished

Scenario 1: Relocating Professional

• Sarah is a 30-year-old marketing consultant moving to San Francisco for a 6-month project. She chooses a furnished apartment to save both time and money by eliminating the need to buy and then sell furniture herself.

Scenario 2: Growing Family

• The Johnsons are a four-person family who are renting an unfurnished three-bedroom house in Austin for the next five years to maximize savings for long-term savings.

Scenario 3: College Student

• John, a first-year student at UCLA, selects a furnished studio apartment near campus as his move-in ready space outweighs any higher rent costs.

Decision-Making Framework: How to Select

Evaluate Your Budget

• It Compares both initial and ongoing costs associated with each option according to your financial situation.
• Utilize online rent calculators to estimate monthly and yearly expenses.

Evaluate Needs and Goals

• Take into consideration short-term convenience versus long-term savings.
• Flexible mobility for frequent moves vs. stability for staying put.

Consider Your Lifestyle

• Do you prioritize hassle-free living over creative control of your space?
• How much effort and time are you willing to put into designing and decorating it?

Check Local Availability

• Furnished apartments tend to be more prevalent in cities with high student or expat populations, whereas unfurnished units dominate suburban and long-term markets.

Conclusion: Finding Your Ideal Apartment

Your decision between furnished or unfurnished apartments ultimately depends on your budget, lifestyle, and long-term plans. Furnished units provide convenience and flexibility for short-term renters or frequent movers while unfurnished units provide affordability and customization to those planning on staying longer term.