Residences at RCMI — Rental Market Data

Residences at RCMI features 4 active listings as of August 31, 2026, spanning an asking price range of $2,500 to $3,000 per month, an average asking rent of $2,833 per month, and a median asking rent of $2,915 per month. Active inventory averages 700 square feet with an average asking rate of $4.08 per square foot. Two-bedroom layouts dominate the active inventory with a 50 percent share, skewing current availability toward multi-bedroom configurations rather than compact entry-level suites.

The dominant active layout at Residences at RCMI is the 2-Bedroom, accounting for 2 active listings and a 50 percent inventory share with an average rent of $2,990 per month, a median rent of $2,990 per month, an average size of 750 square feet, and an average rate of $3.99 per square foot. The 1-Bedroom tier comprises 1 active listing representing a 25 percent share, averaging $2,500 per month across 550 square feet at $4.55 per square foot. The 1-Bedroom plus den tier rounds out the remaining 25 percent share with 1 active listing averaging $2,850 per month across 750 square feet at $3.80 per square foot.

Residences at RCMI records a minimum entry rent of $2,500 per month and a peak asking rent of $3,000 per month, creating a dollar spread of $500 and a percentage spread of 20 percent. The median asking rent sits at $2,915 per month. The entry-level suite is represented by a 1-Bedroom configuration spanning 550 square feet at an asking rate of $4.55 per square foot, while the peak suite is a 2-Bedroom layout offering 750 square feet at an asking rate of $4.00 per square foot.

Residences at RCMI commands an active den premium of $350 per month for an additional 200 square feet of interior space. The marginal cost for this extra den space equates to $1.75 per square foot. Active parking premium data cannot be reliably isolated due to an insufficient sample size.

Residences at RCMI asks an average of $2,833 per month at $4.08 per square foot, trailing the broader Downtown West submarket asking benchmarks of $3,080 per month and $4.81 per square foot. The lower nominal monthly outlay is driven by a more compact average suite footprint relative to wider neighborhood stock. The building asking rate per square foot sits 15.2 percent below the submarket asking average while capturing a 2.4 percent share of active submarket inventory.

Residences at RCMI achieves an average lease rent of $2,602 per month over the past year, comparing favorably against the overall competitor average of $2,598 per month across key benchmarks like Artist's Alley - East Tower, Artist's Alley 2, and Artist's Alley - West Tower. Individual competitor metrics show Artist's Alley - East Tower at 238 Simcoe St with an average lease rent of $2,743 per month, $3.97 per square foot, and an average size of 735 square feet. Artists' Alley at 234 Simcoe Street reports an average lease rent of $2,198 per month, $5.50 per square foot, and an average size of 400 square feet based on 1 recent lease. Artist's Alley 2 at 230 St registers an average lease rent of $2,756 per month, $4.77 per square foot, and 592 square feet. Finally, Artist's Alley - West Tower at 121 St Patrick St records an average lease rent of $2,693 per month, $4.32 per square foot, and 642 square feet.

Residences at RCMI establishes its value proposition by offering a competitive leased rate of $4.04 per square foot across an average suite size of 650 square feet, undercutting the broader submarket asking benchmark of $4.81 per square foot. Renters at the subject building trade the ultra-modern finishes and tighter square footages found in newly completed 2025 inventory—such as Artist's Alley 2's 592 square foot units at $4.77 per square foot—for larger, more established layouts at more moderate per-square-foot rates. While buildings like Artists' Alley push up to $5.50 per square foot for compact 400 square foot micro-suites, Residences at RCMI delivers expansive 650 square foot floor plans that provide greater interior volume and lower relative density for downtown tenants.

Residences at RCMI delivers a robust downtown lifestyle anchored by established multi-purpose facilities, matching the foundational offerings of its newer neighbours while catering to remote professionals and urban downsizers. Contrasting with newer developments like Artist's Alley - East Tower and Artist's Alley 2—which feature specialized lifestyle additions such as yoga studios, outdoor pools, hot tubs, and dedicated pet wash stations—Residences at RCMI focuses on core functional spaces including a concierge and security service, a gym and fitness centre, a party and lounge room, a meeting room, a games and billiards room, a business centre, and a convenient car-share facility. This amenity mix directly serves cost-conscious urban professionals and downtown medical or legal workers who prioritize functional on-site workspace, fitness, and transit accessibility over resort-style outdoor water features.