Studio — Rental Market Data

Studio at 199 Richmond St W has three active listings as of August 31, 2026, with asking rents ranging from $2,750 to $4,300 per month, an average of $3,333, and a median of $2,950. The average active suite spans 833 square feet at an asking rate of $4.04 per square foot, and the inventory leans toward compact entry-level configurations, with two of the three units being one-bedroom-plus-den layouts averaging 700 square feet. The single two-bedroom listing at 1,100 square feet represents the upper end of current availability.

The dominant active layout at Studio is the one-bedroom-plus-den, accounting for two of three available units and a 66.7 percent share of current inventory. That tier averages $2,850 per month across 700 square feet at $4.10 per square foot, while the single two-bedroom listing asks $4,300 per month for 1,100 square feet at $3.91 per square foot. Renters seeking a multi-bedroom executive floor plan face a single-unit constraint, whereas the one-bedroom-plus-den tier offers a small but workable selection of two options.

Studio's active asking rents span from a $2,750 entry point to a $4,300 peak, producing a $1,550 spread or 56.4 percent range across the three available units. The median asking rent sits at $2,950 per month, anchored by the entry-level one-bedroom-plus-den at 750 square feet and $3.67 per square foot. At the top of the range, the two-bedroom suite offers 1,100 square feet at $3.91 per square foot, commanding a $1,550 premium over the entry configuration for an additional 350 square feet of living space.

Active den premiums at Studio cannot be reliably quantified from the current three-unit sample, as the den square-footage delta and marginal per-square-foot cost are unrecorded. Verified parking stalls carry a confirmed add-on of $200 per month, which is the only premium component with a reliable active-market figure. Renters should budget the $200 parking fee separately from base rent when modeling total monthly occupancy costs.

Studio's average asking rent of $3,333 per month and $4.04 per square foot both sit below the Entertainment District benchmarks of $3,542 and $5.53 per square foot respectively, placing the building at a 26.9 percent discount on a rate-per-square-foot basis. The nominal rent gap narrows when accounting for suite size: Studio's active average of 833 square feet is larger than the submarket's typical asking footprint, which explains why the per-square-foot rate is the more meaningful comparison. The building represents three out of 153 available listings in the Entertainment District, a 2.0 percent share of current submarket inventory.

Studio at 199 Richmond St W realizes an average lease rent of $2,833 per month, sitting $44 below the four-comparable average of $2,877 and $122 above the submarket benchmark of $2,756. University at 140 Simcoe St (0.04 km, 6 closed leases) averages $2,799 per month at $4.20 per square foot across 683 square feet, placing Studio $34 higher on a monthly basis. Qwest at 168 Simcoe St (0.06 km, 3 closed leases) commands $3,133 per month at $4.19 per square foot over 747 square feet, meaning Studio trades $300 lower. Boutique Condos I at 21 Nelson St (0.08 km, 19 closed leases) averages $2,550 per month at $4.19 per square foot for 626 square feet, with Studio realizing $283 more per month. Studio 2 at 30 Nelson St (0.08 km, 23 closed leases) posts $3,027 per month at $4.99 per square foot across 650 square feet, positioning Studio $194 lower on a nominal rent basis.

Studio's leased rate of $4.40 per square foot across an average 656-square-foot suite positions it at a slight premium over three of four nearby competitors while offering a meaningful discount to the most expensive per-square-foot peer in the pocket. Against University (0.04 km), Studio commands a $0.20 per square foot (4.8%) premium while providing 27 fewer interior square feet, so the higher rate is partially offset by a tighter footprint. Versus Qwest (0.06 km), Studio also carries a $0.21 per square foot (5.0%) premium but delivers 91 fewer square feet; the $300 lower monthly rent here is driven entirely by the smaller interior footprint rather than a lower asset valuation. Against Boutique Condos I (0.08 km), Studio trades at a $0.21 per square foot (5.0%) premium while providing 30 more interior square feet, making it the clearest value case in the set—more space at a higher rate but a $283 higher total monthly outlay that still undercuts the per-square-foot cost of the larger unit. Studio 2 (0.08 km) is the outlier: Studio trades at a $0.59 per square foot (11.8%) discount below Studio 2's $4.99 per square foot rate while providing 6 more interior square feet, meaning both the rate and the total rent are lower, a genuine pricing advantage rather than a footprint trade-off.

Studio at 199 Richmond St W offers a 16-feature amenity suite that includes an outdoor pool, hot tub and jacuzzi, sauna and steam room, gym, yoga studio, rooftop terrace, and the distinctive OCADU Public Art Gallery alongside an in-ground chess board—features absent from every named competitor. University at 140 Simcoe St differentiates with a putting green and jogging track that Studio does not carry, while Boutique Condos I at 21 Nelson St counters with an indoor pool, private cabanas, fire pits, and an outdoor bar. Studio 2 at 30 Nelson St mirrors much of Studio's wellness and social programming but lacks the outdoor pool, dining room and kitchen, and the public art gallery. The combination of aquatic recreation (outdoor pool plus hot tub), a dedicated yoga studio, and the OCADU gallery positions Studio as the lifestyle-forward option for creative professionals and young urban renters in the Entertainment District who prioritize wellness programming and cultural access over the resort-style cabana and fire-pit package at Boutique Condos I.