Rainbow Village II — Rental Market Data

Rainbow Village II has one active listing as of August 31, 2026, asking $2,800 per month with both the average and median rent at $2,800. The available suite spans 950 square feet at an asking rate of $2.95 per square foot, and the 100 percent layout share falls to the two-bedroom plus den tier. Inventory at this building currently leans toward expansive multi-bedroom executive layouts rather than compact entry-level suites, with no one-bedroom or studio options on the market.

The sole active layout at Rainbow Village II is the two-bedroom plus den, representing 100 percent of available inventory with a single listing. That one unit asks $2,800 per month for 950 square feet, pricing out at $2.95 per square foot. No other bedroom tiers—studio, one-bedroom, or standard two-bedroom—currently have active listings in this building.

Rainbow Village II's single active listing sets both the minimum and maximum asking rent at $2,800 per month, producing a dollar spread of zero and a percentage spread of zero. The entry-level and peak suite are the same unit: a 950-square-foot two-bedroom plus den at $2.95 per square foot. With only one listing on the market, there is no internal price gradient to compare, and renters should benchmark against the 24 other active listings in the Scarborough West submarket for alternative price points.

Rainbow Village II's active den premium and associated square-footage delta cannot be quantified from the current single-listing sample, as no paired den versus no-den comparison exists in the active inventory. Parking stall costs at this building also cannot be reliably isolated; the available data reflects an anomalous outlier or insufficient paired sample, so no specific monthly parking fee can be quoted with confidence.

Rainbow Village II's active asking rent of $2,800 per month exceeds the Scarborough West submarket average of $2,692, while its $2.95 per square foot rate sits 5.4 percent below the submarket asking benchmark of $3.12 per square foot. The higher nominal rent is driven by the 950-square-foot suite being 87 square feet larger than the submarket implied average of 863 square feet, meaning renters pay more in total but less per unit of space. This one listing represents 1 out of 25 active listings in the Scarborough West submarket, or 4 percent of available inventory.

Rainbow Village II's average realized lease rent of $2,350 per month sits $125 below the four-comp benchmark of $2,475, with the spread driven primarily by the larger-footprint Greystone Walk phases and the adjacent Rainbow Village. Rainbow Village (2460 Eglinton Ave E, 0.14 km, 4 closed leases) averaged $2,511 per month at $3.06 per square foot for 838 square feet, meaning the subject trades at a $161-per-month lower rent than this nearest peer. 20 Gilder Condos (20 Gilder Drive, 0.35 km, 1 closed lease) averaged $2,200 per month at $2.00 per square foot for 1,100 square feet, placing the subject $150 higher in nominal rent despite offering a smaller suite. Greystone Walk Phase 1 (5 Greystone Walk Dr, 1.24 km, 5 closed leases) averaged $2,440 per month at $2.79 per square foot for 880 square feet, with the subject $90 lower. Greystone Walk Phase 2 (3 Greystone Walk Dr, 1.34 km, 2 closed leases) averaged $2,750 per month at $2.82 per square foot for 975 square feet, the widest gap at $400 below the subject's realized rent.

Rainbow Village II leases at $2.78 per square foot for an average 850-square-foot suite, a rate that sits above the four-comp blended benchmark of $2.67 per square foot but well below the submarket leased average of $3.20 per square foot, positioning the building as a mid-rate option with a compact footprint. Against Rainbow Village (0.14 km), the subject trades at a $0.28-per-square-foot (9.2%) discount while providing 12 more interior square feet, so the lower nominal rent is partly offset by the slightly larger suite rather than reflecting a weaker asset valuation. Versus 20 Gilder Condos (0.35 km), the subject commands a $0.78-per-square-foot (39%) premium but delivers 250 fewer interior square feet; the $150 higher monthly rent is driven entirely by the smaller footprint rather than a superior per-unit rate. Against Greystone Walk Phase 1 (1.24 km), the subject trades at a negligible $0.01-per-square-foot (0.4%) discount with 30 fewer square feet, and against Phase 2 (1.34 km) the discount widens to $0.04 per square foot (1.4%) with 125 fewer square feet—both cases where the nominal rent gap is a function of interior size rather than a meaningful rate differential.

Rainbow Village II offers a 13-feature lifestyle package that includes an on-site daycare, hot tub and jacuzzi, and an outdoor basketball court—three amenities absent from three or more of its four direct competitors. The on-site daycare is not available at 20 Gilder Condos, Greystone Walk Phase 1, or Greystone Walk Phase 2, making it a distinctive draw for working parents in this pocket. The hot tub and jacuzzi are missing from both Rainbow Village and 20 Gilder Condos, while the basketball court is absent from all three non-Rainbow-Village peers. Conversely, the Greystone Walk phases offer outdoor pools, tennis and pickleball courts, and rooftop terraces that the subject does not provide, and 20 Gilder Condos lacks a garden or courtyard entirely. The building's aquatic-wellness core (indoor pool, sauna, steam room, jacuzzi) combined with family-oriented facilities (daycare, playground, basketball court) and a meeting room best serves dual-income households with young children who prioritize childcare proximity and recreational variety over the outdoor-sport or rooftop-lifestyle features favoured by the Greystone Walk tenant base.