Market Data as of August 31, 2026
Queen and Portland — Rental Market Data
Last Lease
1-BedroomBuilding Summary & Rental Market Overview
Rental market analytics and building profile as of August 31, 2026.
Queen and Portland at 156 Portland Street in Toronto's Downtown West submarket is a 96-suite residential building completed in 2011 by Tribute Communities and RioCan Living. As of August 31, 2026, the tower is fully occupied with zero units currently listed for rent, representing a 0 percent availability rate across its entire inventory. Leasing activity remains modest but present: one lease closed in the trailing 30 days at an average of $2,550 per month with a 7-day time on market, while three leases closed over the past 90 days averaging $3,333 per month and 8 days on market.
With no active listings to benchmark, pricing intelligence draws from the building's realized lease history. The all-time average lease rent of $3,333 per month translates to $4.14 per square foot across an average suite footprint of 817 square feet, placing the building's realized rate 9 percent below the Downtown West submarket lease benchmark of $4.55 per square foot. For context, the submarket's current average asking rent sits at $3,080 per month at $4.81 per square foot, meaning Queen and Portland's historical lease pricing has consistently undercut the broader asking environment on a rate-per-square-foot basis.
Marketing friction at Queen and Portland is effectively absent: zero units have been delisted, terminated, or expired, and the 7-to-8-day closed lease cycle runs well under the submarket average of 20 days. Landlords in this building have maintained a firm pricing posture, achieving an average premium of $50 per month (1.37 percent above asking) across all three tracked closed transactions, generating roughly $600 in additional annual rental revenue per unit. Renters seeking availability should monitor the building's listing page for new releases or turn to the 170 active listings currently available across the broader Downtown West submarket.
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Last Realized Lease
Transaction metrics for the most recently leased suite
Recent Leased Transactions & Contract Prices
Recent lease transactions, absorption velocity, and the difference between landlord asking prices and actual prices agreed to by tenants at Queen and Portland (Data period: For the month of August 2026).
Leased Transaction Insights & Questions
How many suites were leased at Queen and Portland last month, and how fast did they rent?
Queen and Portland closed one lease in the trailing 30 days at a 7-day DOM, compared to an 8-day average across the 90-day window and a 20-day Downtown West submarket benchmark. The building logged three total closed leases over the past year, with all activity concentrated in July and August 2026. Leasing cadence remains limited in scope; three transactions over 12 months is a directional indicator only and does not yet establish a broad statistical benchmark for turnover velocity at this 96-suite property.
What is the negotiation spread between asking rents and closed lease prices at Queen and Portland?
Queen and Portland tenants paid an average premium of $50 per month (1.37% above asking) across all tracked leases, translating to $600 per year in additional landlord rental revenue. All three closed transactions settled at or above the listed asking price, confirming landlord pricing leverage in a market where the Downtown West submarket average lease sits at $3,033 per month. This premium pattern reflects strong tenant demand relative to the limited supply of available suites at this address.
What are typical executed lease prices across different layouts at Queen and Portland?
The 1-Bedroom layout is the dominant tier at Queen and Portland, accounting for two of three closed leases at an average of $2,500 per month with a 6-day DOM. This is a small sample of two transactions and should be treated as a directional reference only. The 3-Bedroom+ tier recorded one closed lease at $5,000 per month with a 14-day DOM; this represents an individual single transaction rather than a broad statistical benchmark. The 1-Bedroom suites averaged 600 square feet at $4.20 per square foot, with a P25–P75 rent band of $2,475 to $2,525. The 3-Bedroom+ suite measured 1,250 square feet at $4.00 per square foot.
What measurable rent premium did suites with parking achieve in closed leases at Queen and Portland?
Queen and Portland realized a verified parking premium of $100 per month on closed leases. This figure is confirmed through paired lease data and reflects the incremental cost tenants absorbed for a dedicated parking space beyond the base suite rent. Active asking parking rates cannot be reliably isolated at this time due to insufficient paired sample depth, so the $100 verified leased premium stands as the only confirmed parking data point for this building.
How does the lease-to-listing ratio at Queen and Portland reflect current tenant demand?
Queen and Portland shows a modest seasonal dip in nominal rent from July to August 2026, though the rate per square foot actually increased. In July 2026, two leases closed at an average of $3,725 per month and $3.88 per square foot with a 9-day DOM. In August 2026, one lease closed at $2,550 per month and $4.64 per square foot with a 7-day DOM. The nominal drop in August reflects a compact suite footprint rather than any property devaluation; the higher per-square-foot rate confirms the smaller unit commanded a denser pricing structure.
Historical Active Listings & Market Dynamics
Analyze availability, historical asking prices, price per foot ($/SF), and days on market over time. Use filters below to benchmark specific layouts.
| Date | Units Available | Avg Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-06-24 | 1 | 4900 | 1250 | 3.92 | N/A |
| 2026-06-25 | 1 | 4900 | 1250 | 3.92 | 1 |
| 2026-06-26 | 1 | 4900 | 1250 | 3.92 | 2 |
| 2026-06-27 | 1 | 4900 | 1250 | 3.92 | 3 |
| 2026-06-28 | 1 | 4900 | 1250 | 3.92 | 4 |
| 2026-06-29 | 1 | 4900 | 1250 | 3.92 | 5 |
| 2026-06-30 | 1 | 4900 | 1250 | 3.92 | 6 |
| 2026-07-01 | 1 | 4900 | 1250 | 3.92 | 7 |
| 2026-07-02 | 1 | 4900 | 1250 | 3.92 | 8 |
| 2026-07-03 | 1 | 4900 | 1250 | 3.92 | 9 |
| 2026-07-04 | 1 | 4900 | 1250 | 3.92 | 10 |
| 2026-07-05 | 1 | 4900 | 1250 | 3.92 | 11 |
| 2026-07-06 | 1 | 4900 | 1250 | 3.92 | 12 |
| 2026-07-07 | 1 | 4900 | 1250 | 3.92 | 13 |
| 2026-07-10 | 1 | 2400 | 650 | 3.69 | N/A |
| 2026-07-11 | 1 | 2400 | 650 | 3.69 | 1 |
| 2026-07-12 | 1 | 2400 | 650 | 3.69 | 2 |
| 2026-07-13 | 1 | 2400 | 650 | 3.69 | 3 |
| 2026-08-03 | 1 | 2550 | 550 | 4.64 | N/A |
| 2026-08-04 | 1 | 2550 | 550 | 4.64 | 1 |
| 2026-08-05 | 1 | 2550 | 550 | 4.64 | 2 |
| 2026-08-06 | 1 | 2550 | 550 | 4.64 | 3 |
| 2026-08-07 | 1 | 2550 | 550 | 4.64 | 4 |
| 2026-08-08 | 1 | 2550 | 550 | 4.64 | 5 |
| 2026-08-09 | 1 | 2550 | 550 | 4.64 | 6 |
12-Month Market Dynamics & Trend Trajectory
Queen and Portland realized an average lease rent of $3,333 per month and $4.14 per square foot across three tracked transactions, positioning the building 9% below the Downtown West submarket average rate of $4.55 per square foot while commanding a nominal rent premium of roughly $300 over the submarket's $3,033 average. The building's 817-square-foot average suite size explains part of the nominal gap: larger footprints dilute the per-square-foot rate even as total monthly rent exceeds the local median. Pricing discipline at Queen and Portland favours the landlord side of the transaction. All three leases closed at or above asking, with an average premium of $50 per month (1.37%) generating $600 per year in incremental rental revenue. No lease settled below the listed price, indicating that tenants accepted the landlord's initial pricing without meaningful pushback. This pattern holds across both the 1-Bedroom and 3-Bedroom+ tiers, reinforcing that the building's asking prices align with or slightly trail what the market will bear.
Historical building statistics - leased transactions
This section tracks completed leasing transactions over time starting from May 1, 2026. Use the filters below to refine the trends by unit type, parking, den, and price performance.
Latest leased insights and trends
| Date | Units Leased | Avg Leased Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-07-05 | 1 | 5000 | 1250 | 4.00 | 14 |
| 2026-07-12 | 1 | 2450 | 650 | 3.77 | 4 |
| 2026-07-19 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-26 | 0 | N/A | N/A | N/A | N/A |
| 2026-08-02 | 0 | N/A | N/A | N/A | N/A |
| 2026-08-09 | 1 | 2550 | 550 | 4.64 | 7 |
Nearby Building Rental Comparables & Price Spreads
Direct rental rate comparisons against residential properties in the immediate vicinity.
Queen and Portland at 156 Portland Street sits in a tight competitive cluster along the Richmond–Queen corridor in Toronto's Downtown West submarket, where three active peers and one zero-transaction reference building frame the immediate rental landscape. 543 Richmond (543 Richmond St W, 0.06 km, completed 2024) recorded 44 closed leases over the trailing 180 days, while The Harlowe (608 Richmond Street West, 0.13 km, completed 2019) logged 20 closed leases and 490 Queen Street W (490 Queen Street W, 0.1 km, scheduled for 2026 completion) closed just 2 leases in the same window. 533 Richmond (533 Richmond St W, 0.06 km, completed 2007) registered zero lease transactions over the past 180 days and therefore functions solely as an architectural and amenity reference rather than an active pricing benchmark. The active set spans two distinct structural generations: the 2024 build at 543 Richmond represents the newest construction in the pocket, while Queen and Portland's 2011 completion places it a full decade ahead of The Harlowe and two decades ahead of the Richmond Street pair. Across the four comparables, the overall benchmark averages $2,669 per month in realized rent, $4.09 per square foot, and 684 square feet of interior space. Queen and Portland's all-time leased average of $3,333 per month and 817 square feet positions the building as a larger-footprint asset trading at a modest $0.05 per square foot discount to the comp aggregate ($4.14 versus $4.09). Against the Downtown West submarket benchmark of $3,033 per month and $4.55 per square foot, the subject's realized rate runs 9 percent below the submarket per-square-foot average, a gap attributable to its 2011 construction date and the broader interior footprint that dilutes the per-unit rate. The building's 96-suite scale and 817-square-foot average layout give it a clear spatial advantage over the 649-to-750-square-foot range of its nearest competitors, making it the largest-format offering within a 130-metre radius.
Comparable Analysis & Questions
How do rental rates at Queen and Portland compare to neighbouring buildings within Downtown West?
Queen and Portland's all-time average realized lease rent of $3,333 per month sits $664 above the four-comparable benchmark of $2,669, with the premium driven primarily by the building's larger interior footprint rather than a higher per-square-foot rate. 543 Richmond at 543 Richmond St W (0.06 km, 44 closed leases) averages $2,803 per month at $4.36 per square foot across 649 square feet, meaning the subject's nominal rent is $530 higher but that gap reflects 168 additional square feet of living space. The Harlowe at 608 Richmond Street West (0.13 km, 20 closed leases) averages $2,880 per month at $4.48 per square foot over 652 square feet, placing the subject $453 above on a monthly basis while still offering 165 more square feet. 490 Queen Street W (0.1 km, 2 closed leases) averages $2,325 per month at $3.43 per square foot across 750 square feet, a $1,008 monthly gap where the subject both commands a higher rate per square foot and provides 67 additional square feet. 533 Richmond at 533 Richmond St W (0.06 km) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark against which to compare.
Does Queen and Portland offer a competitive price-per-square-foot ($/SF) against local comparables?
Queen and Portland leases at $4.14 per square foot across an average 817-square-foot suite, a rate that undercuts the Downtown West submarket benchmark of $4.55 per square foot by 9 percent while delivering materially more interior space than every active competitor within 130 metres. Against 543 Richmond ($4.36 per square foot, 649 sq ft), the subject trades at a $0.22 per square foot discount and provides 168 more square feet, so the $530 monthly rent premium is entirely a function of the larger footprint rather than a higher asset valuation per unit of space. The Harlowe ($4.48 per square foot, 652 sq ft) presents the same dynamic: the subject offers a $0.34 per square foot discount and 165 additional square feet, making the $453 monthly differential a space-driven variance. 490 Queen Street W ($3.43 per square foot, 750 sq ft) is the one comp where the subject commands a $0.71 per square foot premium alongside 67 more square feet, reflecting a genuine rate advantage over that building's 2026 delivery profile and minimal amenity set. In every active comparison, the subject's larger interior footprint is the dominant driver of the nominal rent spread, not a per-square-foot markup.
How do building age, amenities, and developer reputation impact rent spreads?
Queen and Portland fields a ten-item amenity suite anchored by an indoor pool, BBQ area, and water feature—three lifestyle elements that no other building in the immediate Richmond–Queen corridor offers. 543 Richmond (0.06 km) provides an outdoor pool, yoga studio, library, and dining kitchen but lacks the subject's indoor aquatic facility, dedicated BBQ terrace, and decorative water feature; The Harlowe (0.13 km) offers a dining room, garden courtyard, and media theatre yet includes no pool of any kind, no outdoor grilling space, and no water feature; 490 Queen Street W (0.1 km) lists only a shared laundry room; and 533 Richmond (0.06 km) provides concierge and security alone. The subject's combination of an indoor pool for year-round aquatic recreation, a rooftop BBQ terrace for social outdoor dining, and a permanent water feature creates a resort-style amenity layer that distinguishes it from both the ultra-minimal 490 Queen offering and the more conventionally programmed 2019-to-2024 builds on Richmond Street. This package best serves mid-career professionals and small households in the Downtown West who want full-service lifestyle infrastructure—gym, meeting room, games room, and aquatic access—without paying the per-square-foot premium of the newest construction, making Queen and Portland the value-oriented, amenity-rich choice for renters prioritizing space and social facilities over ultra-modern finishes.
Building Amenities, Transit & Neighbourhood Features
Building amenities and neighbouring residential communities around Queen and Portland.
Building Amenities
- Concierge & Security
- Shared Laundry Room
- Gym & Fitness Centre
- Indoor Pool
- Party & Lounge Room
- Meeting Room
- Games & Billiards Room
- BBQ Area
- Rooftop Terrace
- Water Feature
Residential Buildings in the Vicinity
- 543 Richmond64 m
- 533 Richmond65 m
- 490 Queen Street W98 m
- The Harlowe127 m
- 123 Portland138 m
- Rush150 m
- Waterworks166 m
- 566 Queen W173 m
- Kingly Condos196 m
- Cityscape Terrace219 m
- Fashion House - Adelaide Building221 m
- Musee227 m
Data Methodology & Analytical Standards
How FastScreen aggregates public listing records, tracks active inventory, and calculates rental market metrics for Queen and Portland.
Snapshot Dates & Benchmark Cadence
- Standardized Snapshot: Market metrics reflect a standardized monthly snapshot locked as of August 31, 2026.
- Benchmark Comparison Cadence: Month-over-month comparisons evaluate changes across standardized month-end reporting windows (August 2026 vs July 2026), ensuring consistent baseline periods and eliminating intra-month reporting volatility.
- Point-in-Time Daily History: Daily charts capture point-in-time active listings available on any given calendar day.
Public Data Aggregation & Thresholds
- Public Data Aggregation: FastScreen aggregates residential rental listing and completed lease transaction records from publicly available sources.
- Threshold Filtering: All listings are subject to a minimum monthly rental threshold of $1,000 to filter out standalone storage lockers, private parking spaces, and misclassified commercial entries from condominium statistics.
Calculation Formulations
- Average Asking Rent: Weighted average of active asking prices across available suites in the reporting period.
- Price Per Square Foot ($/SF): Calculated by dividing rent by square footage only for listings that provide unit dimensions (suites without stated square footage are excluded from $/SF calculations).
- Days on Market (DOM): Measures elapsed calendar days between the date a suite is first listed and either the benchmark snapshot date (for active listings) or the finalized date leased.
- Parking & Den Differentials: Average asking rent differences between suites with vs. without parking, and suites with vs. without a den.
Data Limitations & Scope
- Exclusively Public Records: Statistics are derived exclusively from publicly available rental listings and completed lease records. Private direct-to-landlord arrangements, unadvertised tenant renewals, and off-market rental agreements are not captured.
- Agreed Contract Amounts: Reported lease amounts reflect agreed contract rents and do not account for private move-in allowances or individual unit renovations that may influence pricing spreads.
Disclaimer: The information and statistics presented on this page (including asking rents, lease prices, de-listed listings, average square footage, days on market, and implied suite premiums) are aggregated from public listing sources for general informational, educational, and reference purposes only. FastScreen does not guarantee the accuracy, completeness, or timeliness of any data shown. This information does not constitute financial, investment, legal, or professional real estate advice. Users should conduct their own independent research and consult with licensed professionals before making any rental, leasing, property management, or real estate investment decisions.