550 Wellington West — Rental Market Data

550 Wellington West has two active listings as of August 31, 2026, with asking rents ranging from $2,000 to $2,500 per month, an average of $2,250, and a median of $2,250. Both units average 400 square feet at a combined asking rate of $5.63 per square foot. The entire active inventory is one-bedroom layout, meaning renters looking for studios or two-bedroom configurations will find no current availability in this building and should turn to the broader Downtown West submarket, which carries 170 active listings.

The dominant and sole active layout at 550 Wellington West is the one-bedroom, with two listings representing 100 percent of available inventory. Both units average 400 square feet at $2,250 per month, yielding a blended asking rate of $5.63 per square foot. No studio, two-bedroom, or larger configurations are currently listed, so renters seeking alternative bedroom counts will need to look outside this building.

550 Wellington West's active asking rents span from a minimum of $2,000 per month to a peak of $2,500 per month, a $500 spread representing 25 percent of the entry price. The median asking rent sits at $2,250 per month. The entry-level suite is a one-bedroom at 400 square feet asking $5.00 per square foot, while the peak listing is also a one-bedroom at 400 square feet but commanding $6.25 per square foot, a difference driven by unit-specific features or floor placement rather than size variation.

Active den premiums at 550 Wellington West cannot be quantified, as no paired den versus non-den listings exist in the current active inventory to isolate a marginal cost per square foot. Parking stall costs likewise cannot be reliably isolated from the available data; the sample of paired parking and non-parking leases is insufficient to produce a defensible monthly premium figure, and no specific parking fee should be assumed when budgeting for a unit here.

550 Wellington West's active asking average of $2,250 per month sits well below the Downtown West submarket asking benchmark of $3,080 per month, but the building's rate of $5.63 per square foot runs 17 percent above the submarket asking rate of $4.81 per square foot. The nominal rent gap resolves through suite size: active listings average 400 square feet, a more compact footprint than the submarket norm, which compresses the headline dollar figure while elevating the per-square-foot cost. The building's two active listings represent a small slice of the broader market, accounting for 2 out of 170 available listings in the Downtown West submarket.

550 Wellington West's average realized lease rent of $2,375 per month trades $358 below the four-comp benchmark of $2,733, a gap driven primarily by the subject's smaller suite footprints rather than weaker asset positioning. Thompson Residences at 629 King St W/38 Stewart St, 70 metres away, recorded 29 closed leases at an average of $2,567 per month ($4.62 per square foot across 575 square feet), meaning the subject's rent runs $192 lower. 20 Stewart at 20 Stewart St, 90 metres distant, logged 4 closed leases averaging $2,899 per month ($4.07 per square foot over 738 square feet), placing the subject $524 below that figure. Both 32 Stewart (40 metres) and The Twenty (110 metres) recorded zero lease transactions over the trailing 180 days and therefore carry no realized rent benchmark against which to compare.

At $4.76 per square foot across an average 507-square-foot suite, 550 Wellington West commands a per-square-foot premium over both active competitors while delivering fewer interior square feet, a trade-off that explains its lower nominal rent. Against Thompson Residences, the subject trades at a $0.14 per square foot (3.0%) premium yet provides 68 fewer interior square feet, so the $192-per-month rent gap reflects the smaller footprint rather than a weaker rate. Against 20 Stewart, the subject commands a $0.69 per square foot (17.0%) premium while offering 231 fewer interior square feet, which accounts for the $524-per-month difference in total rent. In both cases, a renter choosing the subject accepts a more compact layout in exchange for a higher per-square-foot rate and a richer amenity package.

550 Wellington West fields a 13-feature lifestyle package—including an outdoor pool, sauna and steam room, putting green, business centre, and garden courtyard—that materially outpaces every nearby competitor. Thompson Residences (70 metres) offers a gym, outdoor pool, hot tub, and rooftop terrace but lacks the subject's sauna and steam room, business centre, garden and courtyard, and putting green. 20 Stewart (90 metres) provides only concierge service, a BBQ area, a party room, and fibre internet, with no pool, gym, or wellness facilities at all. The zero-transaction references—32 Stewart (no amenities listed) and The Twenty (concierge only)—confirm that the subject's lifestyle infrastructure is the most comprehensive in this immediate pocket. This amenity depth, paired with the compact 507-square-foot suites, best serves young professionals and small households who prioritize on-site wellness, remote-work infrastructure, and social programming over maximum interior square footage.