The Ellington — Rental Market Data

The Ellington has three active rental listings as of August 31, 2026, spanning $2,350 to $3,000 per month with an average asking rent of $2,700 and a median of $2,750. The average suite measures 683 square feet at an asking rate of $3.97 per square foot. Two of the three listings (66.7 percent) are one-bedroom-plus-den layouts, while the remaining unit is a standard one-bedroom, meaning current inventory leans toward compact entry-level and small executive suites rather than multi-bedroom family configurations.

The dominant active layout at The Ellington is the one-bedroom-plus-den, with two listings representing 66.7 percent of available inventory at an average asking rent of $2,875 per month across 700 square feet and a rate of $4.14 per square foot. The single remaining listing is a one-bedroom at $2,350 per month, 650 square feet, and $3.62 per square foot. No two-bedroom or larger units are currently on the market, so renters seeking multi-bedroom space must look to other Downtown Core buildings.

The Ellington's active asking rents range from a minimum of $2,350 per month to a peak of $3,000 per month, a dollar spread of $650 or 27.7 percent. The median asking rent sits at $2,750 per month. The entry-level suite is a one-bedroom at 650 square feet priced at $3.62 per square foot, while the peak listing is a one-bedroom-plus-den also at 650 square feet but commanding $4.62 per square foot, reflecting the den premium embedded in the asking price.

At The Ellington, the active den premium is $525 per month for an additional 50 square feet of space, equating to a marginal cost of $10.50 per square foot for the extra den area. Parking stall costs cannot be reliably isolated from the available data, as the paired sample is insufficient to produce a trustworthy premium figure, and no verified parking fee should be assumed when budgeting for a move-in.

The Ellington's active asking rent of $2,700 per month and $3.97 per square foot both trade below the Downtown Core benchmarks of $3,471 per month and $4.56 per square foot, a 12.9 percent discount on the rate-per-square-foot basis. The lower nominal rent is partly explained by suite size: active listings average 683 square feet versus the submarket implied average of 761 square feet, so the compact footprint narrows the monthly bill even though the per-square-foot rate is competitive. The building currently holds three out of 224 available listings in the Downtown Core submarket, a 1.3 percent share of total active inventory.

The Ellington's average realized lease rent of $2,923 per month sits just $21 below the four-comp benchmark of $2,944, positioning it squarely within the immediate Carlton Street pocket. Against The Met at 21 Carlton St (0.04 km, 32 closed leases, $2,811 average rent, $3.95 per square foot, 724 sq ft), The Ellington commands a $112 higher monthly rent. Encore at The Met II at 25 Carlton St (0.07 km, 13 closed leases, $2,522 average rent, $4.27 per square foot, 604 sq ft) shows the widest gap, with The Ellington realizing $401 more per month. Karma at 15 Grenville St (0.15 km, 60 closed leases, $2,618 average rent, $4.77 per square foot, 557 sq ft) trails The Ellington by $305 per month. Lexington at 45 Carlton St (0.15 km, 4 closed leases, $3,825 average rent, $2.94 per square foot, 1,300 sq ft) is the outlier: The Ellington trades at a $902 lower monthly rent, a reflection of its substantially smaller suite footprint rather than a weaker asset valuation.

The Ellington leases at $3.77 per square foot with an average 782-square-foot suite, trading at a discount below three of four nearby active competitors on a rate-per-square-foot basis while offering more interior space. Against The Met ($3.95 per square foot, 724 sq ft), the subject offers a $0.18 per square foot (4.6%) discount and 58 more interior square feet. Compared with Encore at The Met II ($4.27 per square foot, 604 sq ft), the discount widens to $0.50 per square foot (11.7%) with 178 additional square feet. Karma ($4.77 per square foot, 557 sq ft) shows the steepest spread: The Ellington trades at a $1.00 per square foot (21.0%) discount while providing 225 more square feet. The nominal rent premium over these three peers is therefore driven by the larger interior footprint rather than a higher per-square-foot valuation. Lexington inverts the pattern: at $2.94 per square foot and 1,300 square feet, the subject commands a $0.83 per square foot (28.2%) premium over that 1982 building while providing 518 fewer interior square feet, meaning the lower absolute rent reflects the compact suite size rather than a weaker rate.

The Ellington fields a ten-item amenity suite—concierge and security, party and lounge room, library and reading room, gym and fitness centre, games and billiards room, sauna and steam room, meeting room, rooftop terrace, indoor kids' play room, and an indoor running track—positioning it as a well-rounded but not amenity-maximalist offering relative to its Carlton Street neighbours. The Met (19 amenities) and Encore at The Met II (17 amenities) both add aquatic facilities (indoor pool, hot tub and jacuzzi), dining rooms with kitchens, BBQ areas, garden courtyards, and pet-specific services (pet wash station, pet spa) that The Ellington does not provide. Karma (13 amenities) layers in a yoga studio, media and theatre room, dining room, and BBQ area absent from the subject. The Ellington's distinguishing features are its indoor kids' play room—unmatched by any of the four competitors—and its indoor running track, shared only with Lexington. The absence of an indoor pool, hot tub, or dedicated pet spa places The Ellington below the aquatic and pet-care tiers of The Met and Encore, while its library, games room, and rooftop terrace keep pace with the broader peer set. This package best serves cost-conscious young professionals and small families who prioritize a functional fitness and social floor plan over resort-style aquatic or pet amenities, and who value the extra interior square footage that the lower per-square-foot rate delivers.