The Residences of South Unionville Square — Rental Market Data

The Residences of South Unionville Square has two active listings as of August 31, 2026, spanning a price range of $1,990 to $2,200 per month with an average and median asking rent of $2,095. Both units are one-bedroom configurations averaging 475 square feet at a combined asking rate of $4.49 per square foot. The inventory is evenly split between a compact 400-square-foot one-bedroom and a 550-square-foot one-bedroom-plus-den, so the current mix leans toward entry-level and compact executive layouts rather than multi-bedroom family suites.

The dominant active layout at The Residences of South Unionville Square is the one-bedroom, with one unit representing 50 percent of available inventory at an average asking rent of $1,990 per month across 400 square feet and a rate of $4.98 per square foot. The remaining 50 percent is a single one-bedroom-plus-den listing at $2,200 per month, 550 square feet, and $4.00 per square foot. With only one unit in each tier, both layouts are single-listing samples and no layout offers multiple options for renters to compare.

The Residences of South Unionville Square shows a minimum entry rent of $1,990 per month and a peak asking rent of $2,200 per month, producing a dollar spread of $210 and a percentage spread of 10.6 percent. The median asking rent sits at $2,095 per month, splitting the range almost evenly. The entry-level suite is a 400-square-foot one-bedroom priced at $4.98 per square foot, while the peak offering is a 550-square-foot one-bedroom-plus-den at $4.00 per square foot, meaning the larger den-equipped unit actually carries a lower per-square-foot rate despite the higher headline rent.

The Residences of South Unionville Square carries an active den premium of $210 per month for an additional 150 square feet of space, translating to a marginal cost of $1.40 per square foot for the extra den area. Active parking stall premiums cannot be reliably isolated from the current dataset due to an insufficient paired sample, so no specific monthly parking fee can be quoted for either active listing.

The Residences of South Unionville Square asks an average of $2,095 per month at $4.49 per square foot, compared to the Markham City Centre submarket asking benchmark of $2,711 per month at $3.58 per square foot. The building's nominal rent is lower than the submarket average because active suites average 475 square feet versus the submarket implied asking footprint of 757 square feet, a 282-square-foot delta that fully accounts for the price gap. On a per-square-foot basis, however, the building trades 25.4 percent above the submarket asking rate, and its two active listings represent just 2 out of 96 available units in the broader Markham City Centre inventory.

The Residences of South Unionville Square realizes an average lease rent of $2,170 per month, which is $562 below the overall comp benchmark of $2,732 and well under the submarket average of $2,500. The Varley at 20 Fred Varley Dr (1.15 km, 3 closed leases) averages $3,467 per month at $4.80 per square foot across 775 square feet, placing the subject $1,297 lower in nominal rent. Canvas on the Rouge at 9700 Ninth Ln (1.31 km, 11 closed leases) averages $2,230 per month at $3.38 per square foot across 678 square feet, a gap of just $60 below the subject. Walden Pond I at 55 Austin Dr (1.37 km, 1 closed lease) averages $2,500 per month at $2.94 per square foot across 850 square feet, leaving the subject $330 lower in headline rent. The Hunt Club at 610 Bullock Dr (1.4 km) recorded zero closed leases over the trailing 180 days and therefore has no realized rent benchmark to cite.

The Residences of South Unionville Square leases at $3.72 per square foot on an average 586-square-foot suite, a rate that sits above the submarket leased benchmark of $3.57 per square foot but below the comp average of $3.71 per square foot when weighted across all active peers. Against The Varley, the subject trades at a $1.08 per square foot (22.5 percent) discount while providing 189 fewer interior square feet, so the lower nominal rent of $1,297 per month is driven by the smaller footprint rather than a weaker asset valuation. Versus Canvas on the Rouge, the subject commands a $0.34 per square foot (10.1 percent) premium yet delivers 92 fewer interior square feet, meaning renters pay slightly more per unit of space for a tighter layout in exchange for the subject's meeting and media room access. Against Walden Pond I, the subject carries a $0.78 per square foot (26.5 percent) premium on 264 fewer square feet, so the $330 lower monthly rent is entirely a function of the compact suite size rather than a rate concession. In every active comparison, the subject's lower headline rent tracks to its smaller interior footprint, not to a discount in per-space pricing.

The Residences of South Unionville Square offers a focused six-item amenity package—Concierge & Security, Gym & Fitness Centre, Party & Lounge Room, Meeting Room, Media & Theatre Room, and Rooftop Terrace—that is leaner than its immediate peers but uniquely positioned for remote-work and small-group programming. The Meeting Room and Media & Theatre Room are absent from Canvas on the Rouge, Walden Pond I, and The Hunt Club, giving the subject a clear edge for tenants who need a dedicated workspace or screening area without leaving the building. The Rooftop Terrace is not offered at Walden Pond I or The Hunt Club, though it does appear at The Varley and Canvas on the Rouge. In return, competitors like The Varley add a Yoga Studio, Dining Room & Kitchen, Pet Wash Station, and Car Wash Bay, while Walden Pond I and The Hunt Club layer in indoor and outdoor pools, saunas, tennis and pickleball courts, and squash courts that the subject does not carry. This package best serves young professionals and remote workers in Markham City Centre who value a compact, efficient one-bedroom with on-site meeting and media facilities over large-format aquatic or recreational programming.