Key West Condos — Rental Market Data

Key West Condos has two active listings as of August 31, 2026, spanning $1,600 to $2,600 per month with an average asking rent of $2,100 and a median of $2,100. The average suite size across both listings is 800 square feet at a blended asking rate of $2.84 per square foot. Each layout tier—1-Bedroom + Den and 2-Bedroom—holds exactly one unit, so the inventory is split evenly between a compact executive one-bedroom-plus-den and a spacious two-bedroom, with no multi-unit depth in either tier.

The dominant active layout at Key West Condos is the 1-Bedroom + Den, holding one of two listings at a 50 percent inventory share. The 1-Bedroom + Den asks $2,600 per month for 650 square feet at $4.00 per square foot, while the 2-Bedroom offers 950 square feet at $1,600 per month and $1.68 per square foot. Both tiers are single-listing samples, so neither reflects a broader pricing distribution within the building.

Key West Condos shows an active asking spread of $1,000 per month, from a minimum entry rent of $1,600 to a peak asking rent of $2,600, a 62.5 percent range. The median asking rent sits at $2,100 per month. The entry-level suite is a 2-Bedroom at 950 square feet priced at $1.68 per square foot, while the peak listing is a 1-Bedroom + Den at 650 square feet carrying a $4.00 per square foot rate, reflecting the premium for den configuration over sheer floor area.

Active den premiums at Key West Condos cannot be reliably quantified due to insufficient paired samples, so no marginal cost per square foot for extra den space can be isolated. Active parking stall costs are likewise inconclusive; the data set flags the premium as an unreliable outlier or insufficient sample, and no verified monthly parking figure can be quoted for current listings. For reference, verified closed-lease parking premiums averaged $303 per month across tracked transactions.

Key West Condos asks an average of $2,100 per month at $2.84 per square foot, compared to the Mimico submarket asking benchmark of $3,313 per month and $4.43 per square foot, placing the building 35.9 percent below the neighbourhood rate on a per-square-foot basis. The nominal rent gap narrows when accounting for suite size: the active average footprint of 800 square feet is larger than the submarket's typical lease size, so the lower per-square-foot rate partially offsets the higher total square footage. Key West Condos represents 2 out of 51 available listings in the Mimico submarket, a 3.9 percent share of current rental inventory.

Key West Condos realizes an average lease rent of $2,642 per month, which is $237 below the four-comp benchmark of $2,879 and $254 below the Mimico submarket average of $2,896. Westlake Encore at 10 Park Lawn Rd (0.08 km, 5 closed leases) averages $2,700 per month at $3.82 per square foot across 720 square feet; South Beach Condos – East Tower at 90 Park Lawn Rd (0.09 km, 14 closed leases) averages $3,125 per month at $4.00 per square foot across 795 square feet; South Beach Condos – West Tower at 88 Park Lawn Rd (0.10 km, 10 closed leases) averages $3,290 per month at $4.13 per square foot across 826 square feet; and Westlake 1 at 2220 Lake Shore Blvd W (0.15 km, 1 closed lease) averages $2,400 per month at $4.36 per square foot across 550 square feet. Every competitor in this set recorded at least one closed lease transaction over the trailing 180 days, so all four provide a realized-rent benchmark rather than a listing-only reference.

Key West Condos leases at $3.67 per square foot across an average 733-square-foot suite, placing it below the four-comp average of $4.08 per square foot and 723 square feet, and roughly 7 percent under the Mimico submarket rate of $3.96 per square foot. Against Westlake Encore, the subject trades at a $0.15 per square foot (3.9 percent) discount while providing 13 more interior square feet, so the $58-per-month lower nominal rent reflects both a slightly larger footprint and a more competitive rate per square foot rather than a weaker asset valuation. Versus South Beach Condos – East Tower, the subject offers a $0.33 per square foot (8.3 percent) discount but 62 fewer interior square feet, meaning the $483-per-month rent gap is driven by the smaller suite size as much as the lower rate. Against South Beach Condos – West Tower, the discount widens to $0.46 per square foot (11.1 percent) with 93 fewer interior square feet, producing a $648-per-month differential that is primarily a footprint trade-off. Westlake 1 presents the inverse dynamic: the subject commands a $242-per-month higher rent yet trades at a $0.69 per square foot (15.8 percent) discount and delivers 183 more interior square feet, so the higher nominal figure is entirely a function of the larger interior footprint rather than a premium per unit of space.

Key West Condos offers a 15-feature lifestyle package that includes an indoor pool, valet service, a library and reading room, and a dedicated dining room and kitchen—features that collectively distinguish it from every nearby competitor. Valet service is unique to Key West Condos in this peer set; no other building on Park Lawn Road or the Lake Shore corridor provides it. The indoor pool differentiates the subject from Westlake Encore, which offers only an outdoor pool, while the library and reading room and dining room and kitchen are absent from Westlake Encore and Westlake 1. The South Beach towers counter with a broader wellness and recreation spread—spin studios, hot tubs, squash courts, martial arts rooms, juice bars, and pet daycare—that Key West Condos does not match, but the subject's combination of valet, indoor aquatic access, and a dedicated dining and library environment targets a different lifestyle niche. This package best serves professionals and small families who value convenience-driven services (valet, concierge), indoor year-round recreation (pool, gym, yoga studio), and social or remote-work infrastructure (meeting room, media room, dining room) without requiring the sport-centric amenity depth of the South Beach towers.