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Markham Rental Market Data & Neighbourhood Trends

Access granular residential building data, neighbourhood comps, and historical leasing metrics for 120 tracked properties across Markham.

Markham Rental Market Overview

FastScreen tracks 120 residential buildings across 5 distinct submarkets in Markham, providing comprehensive rental market intelligence based on 947 historical leases and 195 active listings. During the latest 30-day observation window, Markham recorded 221 leases at an average realized rent of $2,506 per month ($3.57 per square foot) with an average Days on Market of 27 days. Markham's average realized monthly rent sits $111 below the GTA 30-day benchmark of $2,617, while trading slightly above nearby Scarborough ($2,430) and Richmond Hill ($2,521 effective average rent), but below North York ($2,572). Markham City Centre serves as the primary transaction hub with 45 tracked buildings and 513 historical leases.

Active Rental Inventory

Listed and Tracked by FastScreen as of September 2026

Current publicly listed rental units and asking prices across Markham

Active Listings
210units
Across 120 buildings
Average Asking Rent
$2,734/mo
Market Stability
Average SF
820SF
Typical suite layout
Average Asking Price / SF
$3.49/SF
Active density benchmark
Average Days on Market
33days
Active listing age

Rental Inventory Analysis At A Glance for Markham

FastScreen's active inventory data for Markham captures 195 active listings with an average asking rent of $2,707 per month ($3.63 per square foot). Comparing asking rates to closed transactions reveals an asking-versus-realized spread of $201 per month, indicating that landlords generally list units above final executed lease prices. Markham records an absorption rate of 53.1 percent across current active stock. Across adjacent peer markets, active inventory ranges from 94 listings in Richmond Hill to 675 listings in North York, situating Markham's supply footprint as a moderate suburban-urban transitional market.

Closed Leases

Transactions that closed in September 2026

Executed lease contracts and actual realized rents agreed upon between landlords and tenants

Units Leased
72closed
Executed transactions
Average Leased Rent
$2,590/mo
+3.5% MoM Delta
Average Leased SF
767SF
Executed size average
Average Leased / SF
$3.51/SF
Realized per-foot rate
Average Days on Market
26days
Days to execute lease

Leasing Trends for Markham

Markham recorded 221 leases during the latest 30-day period with an average Days on Market of 27 days, matching the 90-day rolling DOM average of 27 days and trailing the 180-day DOM baseline of 28 days by 1 day. Compared to the prior 30-day window—which saw 252 leases at an average rent of $2,537—leasing volume contracted slightly while velocity remained stable. Markham's 27-day leasing window is 3 days slower than the GTA 30-day DOM benchmark of 24 days, and identical to the effective DOM benchmarks in Richmond Hill (27 days), Scarborough (27 days), and North York (27 days).

Markham Neighbourhood Leaderboard & Directory

5 Submarkets

Compare average leased rents, transaction volume, active inventory, and turnover velocity across all neighbourhoods in Markham

Markham City Centre
45 properties · 111 active listings
$2,598
average leased
Units Leased: 44
Days on Market: 25 days
+0.3% vs CityView Comps
Markham West
35 properties · 49 active listings
$2,550
average leased
Units Leased: 12
Days on Market: 30 days
-1.5% vs CityView Comps
Markham East
22 properties · 28 active listings
$2,346
average leased
Units Leased: 12
Days on Market: 30 days
-9.4% vs CityView Comps
Unionville
13 properties · 22 active listings
$3,350
average leased
Units Leased: 4
Days on Market: 14 days
+29.3% vs CityView Comps
Thornhill
5 properties · 0 active listings
$2,600
average leased
Units Leased: 1
Days on Market: 63 days
+0.4% vs CityView Comps
Calculation Methodology & Metrics Context (September 2026)
Average Leased Rent:

Calculated from completed residential leases executed in September 2026 across tracked multi-family properties in that submarket.

Spread vs City:

The percentage premium or discount of that neighbourhood's average lease price relative to the overall Markham municipal benchmark.

Units Leased:

Total verified residential lease agreements completed and finalized in September 2026, demonstrating submarket liquidity.

Average Days on Market:

The average calendar duration between the initial public listing date and the finalized binding lease agreement.

Markham Rental Market Dynamics & Local Trends

Canada's High-Tech Capital & Leading York Region Suburban Hub

Markham has evolved from a traditional suburban bedroom community into a major technology and innovation center, housing Canadian headquarters for IBM, AMD, Qualcomm, and dozens of global tech firms. This creates a high-earning, stable tenant demographic seeking modern condominium and townhouse accommodations.

The municipality is serviced by the Highway 7 VIVA rapid transit corridor, the Stouffville GO rail corridor (Unionville and Centennial stations), and direct access to Highways 404 and 407. Top-rated York Region public and Catholic secondary schools drive strong multi-bedroom family rental demand.

Submarket Pricing and Turnover Synthesis

Within Markham, average lease rates range from $2,346 in Markham East up to $3,350 in Unionville, reflecting a 43% pricing spread based on building age and location. The fastest leasing velocity is currently observed in Unionville, with units averaging 14 Days on Market before executing a binding lease agreement.

Month Over Month Trends

Month-over-month data indicates a slight softening in realized rents, with average lease prices moving from $2,537 in the prior 30-day period down to $2,506 in the latest 30-day window, representing a decrease of $31 per month or 1.22 percent. Transaction volume shifted from 252 prior leases to 221 current leases. Because this monthly variation occurs within a robust sample of over 200 monthly transactions, it reflects minor compositional shifts in unit mix and square footage rather than structural price volatility.

Longer Term Trends

Over its historical tracking window, FastScreen has recorded 947 leases in Markham with an all-time average rent of $2,510 per month ($3.50 per square foot) and an average Days on Market of 28 days. Rolling mid-term metrics show stability, with 90-day leasing averaging $2,522 across 667 leases and 180-day leasing averaging $2,510 across 947 leases. Overall rental dispersion spans a wide transaction range from an entry-level floor of $1,250 to an upper ceiling of $4,800 per month, with a median rent of $2,400. The middle 50 percent of the market clusters tightly between a 25th percentile of $2,200 and a 75th percentile of $2,800 per month, yielding an interquartile spread of $600 that reflects consistent core apartment and condominium pricing.

For Renters

Renters navigating the Markham rental market face a balanced leasing environment with predictable price step-ups across bedroom categories. Standard 1-bedroom units lease at an average of $2,140 per month ($3.72 per square foot across 582 square feet), while 2-bedroom units average $2,804 per month ($3.33 per square foot across 857 square feet). Upgrading from a 1-bedroom to a 2-bedroom unit requires an average monthly rent step-up of $664 (a 31.03 percent increase) for an additional 275 square feet of space, resulting in a slight decline in square-footage cost of $0.39 per square foot. Overall rents cluster within the middle 50 percent between $2,200 and $2,800 per month (median $2,400). Renters seeking alternative inventory or pricing pressure can evaluate nearby Richmond Hill ($2,521) or Scarborough ($2,430).

For Landlords

Landlords pricing rental properties in Markham must account for a realized-versus-asking spread that sees average asking rents ($2,707) sit $201 above closed lease averages ($2,506). With an average Days on Market of 27 days, mispriced units risk extended vacancy carry costs. Parking inclusion provides a measurable leasing advantage: across 1-bedroom units, parking-bundled leases averaged $2,163 per month compared to $1,890 for unbundled units, establishing a documented parking premium of $273 per month. Landlords should anchor pricing strategies on closed transaction comparables rather than peak asking listings, particularly given stable mid-term velocity across the municipality's 120 tracked buildings.

For Realtors

Real estate professionals structuring a rental CMA in Markham can rely on robust historical datasets of 947 recorded leases alongside 30-day velocity metrics averaging 27 Days on Market. When local 30-day volume fluctuates, agents can anchor valuations using rolling 90-day benchmarks ($2,522 across 667 leases) and $/sqft rate baselines ($3.57 per square foot). Markham's pricing sits at a modest 4.24 percent discount to the GTA average rent of $2,617, offering a competitive positioning narrative for clients. Agents should utilize bedroom-specific step-ups—such as the $664 jump between 1-bedroom and 2-bedroom units—and submarket differentials (ranging from Thornhill's $2,810 average to Markham East's $2,336 average) to advise clients on precise competitive positioning.

Frequently Asked Questions

Markham Rental Market & Leasing FAQs

Essential answers for tenants, property owners, and real estate professionals navigating Markham

What is the average rent for a condominium or apartment in Markham?
Markham's average realized lease price for an apartment or condominium is $2,506 per month ($3.57 per square foot), based on FastScreen's latest 30-day transaction sample of 221 leases. The historical all-time average lease price stands at $2,510 per month across 947 recorded leases with an average unit size and a median rent of $2,400. Overall rental dispersion spans from an entry-level floor of $1,250 to an upper ceiling of $4,800 per month, with the middle 50 percent clustering between $2,200 and $2,800. Markham's average rent is $111 below the GTA 30-day benchmark of $2,617.
How much is a 1-bedroom apartment in Markham?
Markham's average realized lease price for a 1-bedroom apartment is $2,140 per month ($3.72 per square foot), based on FastScreen's historical transaction records of 205 recorded leases with an average unit size of 582 square feet. Asking rents for 1-bedroom units average $2,182 per month ($3.92 per square foot across 588 square feet), creating an asking-versus-realized spread of $42 per month. Units leased with parking command an average of $2,163 per month compared to $1,890 without parking, establishing a positive parking premium of $273 per month.
How much is a 2-bedroom apartment in Markham?
Markham's average realized lease price for a 2-bedroom apartment is $2,804 per month ($3.33 per square foot), based on FastScreen's historical transaction records of 234 recorded leases with an average unit size of 857 square feet. Asking rents average $2,958 per month ($3.50 per square foot across 865 square feet), reflecting an asking-versus-realized spread of $154 per month. Units leased with parking average $2,809 per month compared to $2,367 without parking, generating a documented parking premium of $442 per month.
How much is a 3-bedroom apartment in Markham?
Markham's average realized lease price for a 3-bedroom or larger apartment is $3,360 per month ($2.94 per square foot), based on FastScreen's historical transaction records of 21 recorded leases with an average unit size of 1,177 square feet. Asking rents average $3,632 per month ($3.48 per square foot across 1,181 square feet), resulting in an asking-versus-realized spread of $272 per month. Because this category represents a smaller sample of 21 historical transactions and 5 recent 30-day leases, figures should be utilized as directional benchmarks rather than extensive market-wide averages.
Which neighbourhoods in Markham are the most affordable versus most premium?
Markham's rental market is divided into 5 distinct submarkets tracked by FastScreen, ranging from Thornhill as the highest rental benchmark at an average of $2,810 per month to Markham East as the most affordable submarket at an average of $2,336 per month. Additional submarket benchmarks include Markham City Centre at $2,489 per month (across 45 buildings and 513 leases), Markham West at $2,636 per month, and Unionville at $2,620 per month, creating a total municipal submarket spread of $474 or 20.29 percent.
What area codes in Markham have the most expensive rental units? What area codes have the least?
Markham's active rental listings and historical transactions span postal FSAs such as L3P and L3R within Markham City Centre and surrounding districts. FastScreen's current dataset tracks municipal pricing primarily across its 5 designated submarkets rather than establishing granular, standalone price hierarchies across individual postal area codes.
Which postal codes (FSAs) and neighbourhoods are covered in Markham's rental data?

FastScreen tracks residential lease transactions across Markham's primary postal code districts (FSAs):

  • Markham City Centre L3R, L6G: $2,598/month average leased rent
  • Markham West L3T, L4J: $2,550/month average leased rent
  • Markham East L3P, L3R, L3S, L6B: $2,346/month average leased rent
  • Unionville L3R, L6C: $3,350/month average leased rent
  • Thornhill L3T: $2,600/month average leased rent
How fast do rental properties lease in Markham?
Rental properties in Markham lease at an average Days on Market of 27 days, based on FastScreen's 30-day and 90-day rolling transaction windows. This current 27-day leasing velocity matches the 90-day average of 27 days and trails the historical all-time average of 28 days by 1 day. Markham's leasing speed is 3 days slower than the GTA 30-day benchmark of 24 days, and identical to the effective DOM benchmarks recorded in nearby Richmond Hill (27 days), Scarborough (27 days), and North York (27 days).
How much more will a unit with a parking spot in Markham rent for versus a unit without one?
In Markham, units leased with parking command a measurable positive financial premium over units leased without parking. For 1-bedroom apartments, units with parking achieved an average realized rent of $2,163 per month compared to $1,890 without parking, establishing a parking premium of $273 per month. For 2-bedroom units, parking-equipped leases averaged $2,809 per month versus $2,367 without parking, generating a parking premium of $442 per month.
How should Markham landlords price their rental units to prevent vacancy?
Markham landlords should price rental units by anchoring to closed lease transactions—which average $2,506 per month—rather than peak asking averages of $2,707 per month. With an average Days on Market of 27 days, maintaining a competitive price point relative to bedroom-specific benchmarks (such as $2,140 for 1-bedrooms and $2,804 for 2-bedrooms) helps mitigate vacancy carry costs. Incorporating parking adds measurable value, with parking-equipped units commanding positive premiums of $273 per month for 1-bedrooms and $442 per month for 2-bedrooms.
Are parking spaces, lockers, and utilities included in Markham rents?
FastScreen's municipal dataset for Markham tracks parking inclusion differentials—establishing that parking-equipped 1-bedroom units lease at an average of $2,163 per month compared to $1,890 without parking—but does not contain specific tracking data regarding locker storage allocations or individual utility (hydro, heat, and water) inclusion rates.