Merl Towers — Rental Market Data

Merl Towers has exactly one unit actively listed as of August 31, 2026, asking $2,150 per month with both the average and median rent at that same figure. The available suite measures 650 square feet and carries an asking rate of $3.31 per square foot. The entire active inventory consists of a single two-bedroom layout, representing 100 percent of available units, so there is no spread between entry-level and executive tiers to evaluate at this time.

The sole active listing at Merl Towers is a two-bedroom suite, accounting for 100 percent of the building's available inventory. That single unit asks $2,150 per month across 650 square feet, yielding a rate of $3.31 per square foot. No one-bedroom, three-bedroom, or den-equipped units are currently on the market, so layout diversity is effectively zero at this snapshot.

With only one unit listed at Merl Towers, the minimum and maximum asking rents are identical at $2,150 per month, producing a dollar spread of zero and a percentage spread of zero. The entry-level and peak suite are the same two-bedroom, 650-square-foot unit priced at $3.31 per square foot. Because no additional listings exist to create a range, the median asking rent also lands at $2,150 per month.

Den premium data for Merl Towers cannot be quantified because no den-equipped suites are included in the active or recent lease sample, leaving the marginal cost per square foot for extra den space uncalculated. Active parking premiums also cannot be reliably isolated from the available data, as the paired sample is insufficient to separate a consistent parking add-on from base rent. Renters should request a written parking quote directly from the building's management office before signing a lease.

Merl Towers' active asking rate of $3.31 per square foot sits 6.5 percent below the Scarborough West submarket asking benchmark of $3.54 per square foot, and the nominal rent of $2,150 per month is $190 below the submarket average asking rent of $2,340 per month. The 650-square-foot footprint of the active listing matches the building's historical lease size, so the lower rate reflects a genuinely more competitive per-square-foot price rather than a smaller unit. Merl Towers represents 1 out of 22 available listings in the Scarborough West submarket, or roughly 4.5 percent of the neighborhood's active rental inventory.

Merl Towers' average realized lease rent of $2,225 per month sits $292 below the overall comp benchmark of $2,517, with all three active competitors pricing above the subject. 100 Prudential Drive Condos at 100 Prudential Drive (0.26 km, two closed leases) averaged $2,450 per month at $2.88 per square foot across 850-square-foot suites. 301 Prudential Drive Condos at 301 Prudential Drive (0.39 km, one closed lease) averaged $2,600 per month at $2.74 per square foot across 950-square-foot suites. 895 Kennedy Condos at 895 Kennedy Road (1.22 km, one closed lease) averaged $2,500 per month at $3.33 per square foot across 750-square-foot suites. 30 Gilder Drive at 30 Gilder Drive (1.61 km) recorded zero closed leases over the trailing 180 days and therefore provides no realized rent benchmark for direct comparison.

Merl Towers' realized rate of $3.42 per square foot on a 650-square-foot average suite positions the building at a premium per square foot over all three active nearby alternatives, even though its total monthly rent is lower than each competitor. Against 100 Prudential Drive Condos, the subject trades at a $0.54 per square foot (18.8 percent) premium while providing 200 fewer interior square feet, meaning the $225-per-month lower rent is driven entirely by the smaller footprint rather than weaker asset valuation. Versus 301 Prudential Drive Condos, the subject commands a $0.68 per square foot (24.8 percent) premium on 300 fewer square feet, producing a $375-per-month lower nominal rent that reflects the 950-to-650 square-foot size differential. Against 895 Kennedy Condos, the spread narrows to a $0.09 per square foot (2.7 percent) premium with only 100 fewer square feet, yielding a $275-per-month lower rent that is almost purely a function of the modest size gap.

Merl Towers provides no common lifestyle or recreational facilities, operating as a no-frills, low-maintenance residential building that appeals to cost-conscious renters over amenity-rich peers. Both 100 Prudential Drive Condos and 301 Prudential Drive Condos offer indoor pools, gyms, saunas, meeting rooms, and concierge services—lifestyle packages entirely absent from Merl Towers' common areas. 895 Kennedy Condos, the closest active competitor by amenity profile, also carries zero listed amenities, making it the only true peer in the no-frills category. 30 Gilder Drive, while a zero-transaction reference, lists a gym, party room, and garden courtyard, further underscoring Merl Towers' lean operating model. The primary tenant demographic best served by this building's package is the budget-sensitive renter who prioritizes a lower total monthly outlay and minimal common-area fees over pool access, fitness facilities, or remote-work spaces.