Downtown Erin Mills - Tower 2 — Rental Market Data

Downtown Erin Mills – Tower 2 has two active listings as of August 31, 2026, with asking rents ranging from $3,200 to $3,300 per month, an average of $3,250, and a median of $3,250. The average suite size is 950 square feet at an asking rate of $3.37 per square foot. Both active units are single-listing tiers: one 2-Bedroom + Den and one 3-Bedroom+, meaning the current inventory leans toward larger multi-bedroom executive layouts rather than compact entry-level suites.

The dominant active layout at Downtown Erin Mills – Tower 2 is the 2-Bedroom + Den, with one listing representing 50 percent of available inventory at an average asking rent of $3,200 per month across 950 square feet ($3.37 per square foot). The 3-Bedroom+ tier also holds one listing at 50 percent share, asking $3,300 per month, though square footage and per-square-foot metrics are not recorded for that unit. Both tiers are single-listing samples, so no tier offers a comparative spread for renters to weigh.

Downtown Erin Mills – Tower 2 shows a minimum entry rent of $3,200 per month and a peak asking rent of $3,300 per month, producing a dollar spread of $100 and a percentage spread of 3.1 percent. The median asking rent sits at $3,250 per month. The entry-level suite is a 2-Bedroom + Den at 950 square feet and $3.37 per square foot, while the peak unit is a 3-Bedroom+ layout asking $3,300 per month with square footage and per-square-foot rate not yet recorded in the listing data.

Downtown Erin Mills – Tower 2 does not have a quantified den premium or square-footage delta in the current active sample, so the marginal cost of extra den space cannot be reliably isolated from the two available listings. Active parking stall premiums are likewise inconclusive due to an unreliable outlier or insufficient paired sample, and no verified monthly parking fee can be quoted for either active unit.

Downtown Erin Mills – Tower 2 asks an average of $3,250 per month at $3.37 per square foot, compared to the Mississauga West submarket asking benchmark of $2,685 per month at $3.63 per square foot. The building's nominal rent runs higher than the submarket average, but that gap is driven by suite size: the active 950-square-foot average footprint exceeds the submarket implied average of 740 square feet by 210 square feet, and on a per-square-foot basis the building actually trades 7.2 percent below the submarket asking rate. The two active units represent 2 out of 47 available listings in the Mississauga West submarket.

Downtown Erin Mills – Tower 2 realized an average lease rent of $3,008 per month over its full leasing history, which is $325 above the four-comp benchmark of $2,683 and well above the Mississauga West submarket average of $2,605. Downtown Erin Mills at 4633 Glen Erin Dr (0.05 km, 15 closed leases) averaged $2,732 per month at $3.42 per square foot across 800 square feet; Mills Square – West Tower at 4677 Glen Erin Dr (0.15 km, 4 closed leases) averaged $2,685 per month at $3.50 per square foot across 775 square feet; Mills Square East Tower at 4699 Glen Erin Dr (0.18 km, 10 closed leases) averaged $2,805 per month at $3.54 per square foot across 794 square feet; and Miracle in Mississauga at 4900 Glen Erin Dr (0.18 km, 6 closed leases) averaged $2,508 per month at $3.25 per square foot across 774 square feet. Every competitor in this set recorded active closed-lease volume over the trailing 180 days, so each figure represents a realized transaction benchmark rather than an asking-price reference.

At $3.44 per square foot and 875 average square feet, Downtown Erin Mills – Tower 2 offers the largest interior footprint in its immediate peer set while trading at a rate per square foot that is essentially in line with the four-comp average of $3.43 per square foot. Against Downtown Erin Mills (0.05 km), the subject commands a $0.02 per square foot (0.6%) premium and provides 75 more interior square feet, so the $276-per-month rent gap reflects both a modest rate advantage and a meaningfully larger suite. Against Mills Square – West Tower (0.15 km), the subject trades at a $0.06 per square foot (1.7%) discount yet still posts a $323-per-month higher nominal rent because it delivers 100 more square feet of living area; the rent differential is a footprint effect, not an asset-valuation premium. The same dynamic holds against Mills Square East Tower (0.18 km), where the subject trades at a $0.10 per square foot (2.8%) discount but its 81 additional square feet push the total monthly rent $203 above the comp. Against the older Miracle in Mississauga (0.18 km), the subject commands a $0.19 per square foot (5.8%) premium and 101 more square feet, producing the widest rent spread at $500 per month and reflecting both a rate advantage and a larger suite in a 2019-built asset versus a 2013-built one.

Downtown Erin Mills – Tower 2 carries a 12-item amenity suite that spans aquatic, wellness, remote-work, and social-lifestyle categories, placing it at the upper end of its Glen Erin Drive peer set. The subject's Media & Theatre Room and Library & Reading Room are absent from Downtown Erin Mills (4633 Glen Erin Dr), which instead offers a Games & Billiards Room and an outdoor Children's Playground; the subject's Garden & Courtyard is not replicated in either Mills Square tower, while those buildings add a Dining Room & Kitchen that Tower 2 does not provide. Miracle in Mississauga (4900 Glen Erin Dr) differentiates with a Golf Simulator and Games & Billiards Room that the subject lacks, but the subject counters with a dedicated Library & Reading Room and Garden & Courtyard that the 2013-built competitor omits. The combined package—indoor pool, sauna and steam room, yoga studio, gym, rooftop terrace, meeting room, media theatre, library, BBQ area, and landscaped courtyard—best serves professionals and small families who want a full-service residential experience with on-site wellness and remote-work infrastructure without needing to source those amenities off-site.