Waverley — Rental Market Data

Waverley at 484 Spadina Avenue holds five active listings as of August 31, 2026, with asking rents ranging from $2,665 to $4,910 per month, an average of $3,544 and a median of $3,365. The average suite size across active inventory is 670 square feet at an asking rate of $5.57 per square foot. One-bedroom units dominate the active mix at 60 percent of available listings, while the remaining 40 percent splits evenly between a single studio and a single two-bedroom unit, indicating inventory leans toward compact entry-level and mid-size layouts rather than multi-bedroom executive suites.

The one-bedroom layout is the dominant active tier at Waverley, accounting for three of five listings or 60 percent of available inventory at an average asking rent of $3,382 per month across 617 square feet and a rate of $5.58 per square foot. The two-bedroom tier holds one listing at $4,910 per month for 1,100 square feet at $4.46 per square foot, and the studio tier also holds one listing at $2,665 per month for 400 square feet at $6.66 per square foot. Both the studio and two-bedroom tiers represent single-listing scarcity, offering renters no in-building alternatives within those bedroom categories.

Waverley's five active listings span a dollar spread of $2,245, from a minimum entry rent of $2,665 per month to a peak asking rent of $4,910 per month, representing an 84.2 percent spread. The median asking rent sits at $3,365 per month. The entry-level suite is a 400-square-foot studio priced at $6.66 per square foot, while the peak suite is a 1,100-square-foot two-bedroom unit priced at $4.46 per square foot, illustrating that the higher absolute rent is driven by substantially greater square footage rather than a higher per-square-foot rate.

Waverley's active den premium and associated square-footage delta are unquantified due to insufficient paired listing data, so no marginal cost per square foot for extra den space can be reliably stated. Active parking premiums also cannot be reliably isolated from current listings, as the platform flags the available data as an anomalous outlier or insufficient paired sample. No verified parking stall costs are available from either active listings or historical lease records for this building.

Waverley's active asking rent of $3,544 per month and $5.57 per square foot compare to the Downtown West submarket asking benchmarks of $3,080 per month and $4.81 per square foot, placing the building 15.8 percent above the submarket on a per-square-foot basis. The higher nominal rent at Waverley is partly offset by the fact that its average suite of 670 square feet is larger than what the submarket average implies, so the per-square-foot premium reflects both suite sizing and building positioning rather than a pure rate differential. Waverley's five active listings represent approximately 3 percent of the 170 total active listings across the Downtown West submarket.

Waverley's active asking average of $3,544 per month sits $893 above the four-comp lease average of $2,651 and $511 above the Downtown West submarket lease benchmark of $3,033. The College at 297 College Street (0.13 km) reports an average closed-lease rent of $2,865 per month at $4.52 per square foot across 656-square-foot suites. Design Haus at 181 Huron Street (0.21 km) commands the highest comp lease at $3,276 per month, $5.70 per square foot, over 591 square feet. The older 8 Oxford Condominiums at 8 Oxford Street (0.17 km) leases at $2,550 per month, $3.40 per square foot, in 750-square-foot units, while the upcoming 335 College Street (0.20 km) shows an average closed-lease rent of $1,914 per month at $4.79 per square foot in 400-square-foot suites.

Waverley's active asking rate of $5.57 per square foot across an average 670-square-foot suite places it at a premium to the comp average of $4.60 per square foot and the submarket lease benchmark of $4.55 per square foot, while offering a larger footprint than the 599-square-foot comp mean. Tenants choosing Waverley over Design Haus (181 Huron Street) trade a slightly lower per-square-foot cost—$5.57 versus $5.70—for 79 additional square feet of living area (670 vs. 591). Against The College at 297 College Street, Waverley's 670-square-foot average exceeds the comp's 656-square-foot mean by 14 square feet while asking $1.05 more per square foot ($5.57 vs. $4.52). The most pronounced trade-off appears with 335 College Street, where Waverley's 670-square-foot suites are 270 square feet larger than the comp's 400-square-foot average, justifying the $0.78-per-square-foot premium ($5.57 vs. $4.79) for renters who prioritise space over minimum rent.

Waverley's 16-amenity lifestyle package at 484 Spadina Avenue materially outpaces the offerings at all four nearby competitors, particularly in wellness, pet care, and professional infrastructure. Where The College (297 College Street) provides a gym and rooftop terrace but no dedicated yoga or spin studio, Waverley pairs its Gym & Fitness Centre with a separate Yoga Studio and Spin Studio. The Outdoor Pool at Waverley has no equivalent at any of the four comparables—Design Haus (181 Huron Street) offers a Sauna & Steam Room but no aquatic facility, and 8 Oxford Condominiums (8 Oxford Street) lacks both. Waverley's Pet Wash Station and Luxury Car Share are absent from every competitor's amenity list, while its dedicated Business Centre and EV Charging Station go beyond the basic Meeting Room found at The College and Design Haus. This combination of aquatic recreation, dedicated fitness studios, pet-care infrastructure, and professional workspace best serves young professionals and small pet-owning households in the Downtown West corridor who want a single-building lifestyle package without supplementing with external memberships.