ME Living 1 — Rental Market Data

ME Living 1 has four active rental listings as of August 31, 2026, spanning a price range of $2,100 to $2,950 per month with an average asking rent of $2,475 and a median of $2,425. The four available suites average 638 square feet at a combined asking rate of $4.08 per square foot. Inventory is evenly split across four distinct layout tiers, with no single category dominating; the mix leans toward compact entry-level one-bedroom suites at the low end and multi-bedroom executive layouts with dens at the high end, giving renters a full spectrum from 400 to 850 square feet.

No single layout dominates ME Living 1's active inventory, as each of the four available tiers holds exactly one listing representing 25 percent of current stock. The one-bedroom tier offers a 400-square-foot suite at $2,100 per month ($5.25 per square foot), the one-bedroom-plus-den provides 550 square feet at $2,300 ($4.18 per square foot), the two-bedroom delivers 750 square feet at $2,550 ($3.40 per square foot), and the two-bedroom-plus-den tops out at 850 square feet for $2,950 ($3.47 per square foot). Renters should note that every tier is a single-listing scenario, so availability in any given configuration is effectively first-come, first-served.

ME Living 1's active asking rents range from a $2,100 entry point to a $2,950 peak, producing an $850 spread or 40.5 percent differential across the four available units. The median asking rent sits at $2,425 per month, anchoring the mid-range of the offering. At the entry level, a 400-square-foot one-bedroom asks $2,100 per month at $5.25 per square foot, while the peak listing is an 850-square-foot two-bedroom-plus-den at $2,950 per month and $3.47 per square foot, illustrating how the larger executive footprint actually carries a lower rate per square foot despite the higher nominal rent.

ME Living 1's active den premium is quantified at $200 per month for an additional 150 square feet of den space, equating to a marginal cost of $1.33 per square foot for the extra room. Parking stall premiums at this building cannot be reliably isolated from the current dataset due to insufficient paired lease samples, so renters should confirm individual parking arrangements directly with the property manager rather than relying on a standardized add-on figure.

ME Living 1's average asking rent of $2,475 per month and $4.08 per square foot both exceed the Scarborough City Centre submarket benchmarks of $2,495 per month and $3.34 per square foot on a rate basis, with the building commanding a 22.2 percent premium per square foot over the submarket asking average. The nominal monthly rent is slightly below the submarket asking average of $2,495, but that variance is explained by suite sizing: ME Living 1's 638-square-foot average is comparable to submarket norms, while the higher per-square-foot rate reflects the building's 2020 completion and product positioning. The building currently holds four out of 74 active listings in the Scarborough City Centre submarket, representing roughly 5.4 percent of available inventory.

ME Living 1's average realized lease rent of $2,218 per month sits $199 below the four-comp benchmark of $2,417, with the primary nearby competitors being ME Living 2 (20 Meadowglen Pl, 0 km, 15 closed leases, $2,439 average rent, $3.44 per square foot, 728 sq ft), Tricycle Condos (10 Meadowglen Pl, 0.08 km, 11 closed leases, $2,212 average rent, $3.53 per square foot, 639 sq ft), May Tower II (11 Lee Centre Dr, 1.39 km, 12 closed leases, $2,429 average rent, $3.15 per square foot, 777 sq ft), and May Tower (1 Lee Centre Dr, 1.4 km, 4 closed leases, $2,588 average rent, $2.96 per square foot, 875 sq ft). All four competitors recorded closed lease transactions over the trailing 180 days, so each provides a realized pricing benchmark rather than a listing-only reference. The subject's rent is $221 lower than ME Living 2, $6 higher than Tricycle Condos, $211 lower than May Tower II, and $370 lower than May Tower, reflecting the smaller interior footprint rather than a weaker asset valuation.

ME Living 1 commands a per-square-foot premium over every active nearby competitor—$0.23 per square foot (6.7%) above ME Living 2, $0.14 per square foot (4.0%) above Tricycle Condos, $0.52 per square foot (16.5%) above May Tower II, and $0.71 per square foot (24.0%) above May Tower—while providing fewer interior square feet in each pairing (96 fewer than ME Living 2, 7 fewer than Tricycle Condos, 145 fewer than May Tower II, and 243 fewer than May Tower). The nominal rent gap is therefore a footprint effect: a renter at ME Living 1 pays less in absolute monthly dollars than at the three larger-suite competitors but more per square foot of interior space, meaning the trade-off is compact, efficiently laid-out suites at a higher unit rate rather than a discount on asset quality. Against Tricycle Condos, the $6-per-month difference is essentially negligible and the 7-square-foot size gap is immaterial, making the two the closest true price-and-space equivalents in the pocket. The 2020 build date also gives the subject a structural advantage over the 1999 and 2002 May Tower pair, where older mechanical systems and larger but less efficiently configured suites drive the lower per-square-foot rates.

ME Living 1 offers a 14-feature lifestyle package that includes an outdoor pool, hot tub and jacuzzi, rooftop terrace, gym, meeting room, media and theatre room, children's outdoor playground, dining room, and—uniquely in this peer set—a dedicated place of worship. ME Living 2 (20 Meadowglen Pl) adds an indoor pool and drops the hot tub and children's playground; Tricycle Condos (10 Meadowglen Pl) substitutes a yoga studio for any aquatic facility and omits the hot tub, playground, and worship space entirely; May Tower II (11 Lee Centre Dr) and May Tower (1 Lee Centre Dr) both feature indoor pools, saunas, basketball courts, and indoor kids' play rooms but lack the outdoor pool, hot tub, and place of worship found at the subject. The place of worship is a signature differentiator with no direct equivalent among the four competitors, and the outdoor pool combined with the hot tub gives ME Living 1 a warmer-season aquatic and wellness edge over Tricycle Condos specifically. This amenity mix—blending family-oriented outdoor recreation, faith-based community space, and standard urban lifestyle facilities—best serves young families and faith-community renters in Scarborough City Centre who prioritize outdoor leisure and communal gathering spaces over the indoor-sport-heavy packages of the older May Tower buildings.