Well, for comparison's sake I live in Capitol Hill (which is right beside Confederation Park Golf Course) and I pay $1000+utl for a similar suite and distance from the U of C/LRT.
I remember when I moved in there I looked at some places in Varsity and they were around the same price. It all depends on the condition of the house, but it's probably in that 1000+utl ballpark. This was in March though and I'm sure the renting market changes in July/August where they have students by the balls.
Last year 3 friends and I rented an old (but big) house in Varsity for $1550/month. It was in fairly good shape. The only problem is that we were a solid 15 minute bike ride from the university and barely in walking distance for the LRT. If the house was closer to both they probably could've charged us a lot more.
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