Thornhill Apartments for Rent & Condo Comps
Access granular residential building comps, verified lease benchmarks, and real-time inventory for 5 tracked properties across Thornhill, Markham.
Thornhill Rental Market Overview
As of late summer 2026, the Thornhill submarket within Markham—primarily concentrated around postal forward sortation area L3T—is experiencing an inventory freeze characterized by zero active listings currently available on the public market. Based on verified transaction records through the end of August 2026, Thornhill recorded an average realized rent of $2,600 per month based on 1 closed lease over the trailing 30 days, alongside 0 active listings currently on the market, backed by a tracked baseline across 5 buildings. Because active listings sit at zero, asking-to-realized spreads and active absorption rates cannot be calculated for the current period, reflecting a tight multi-residential leasing environment where available suites are absorbed off-market or immediately upon listing.
When evaluated against the broader Markham municipal benchmark of $2,506 per month, Thornhill rental rates command a modest premium of $94, or 3.75%. Transaction volume over the mid-term window highlights steady turnover across larger multi-bedroom formats, with 2-bedroom configurations leading recent closed lease volume across the submarket's tracked residential developments.
Active Rental Inventory
No tracked inventory as of September 2026Current active rental availability status across Thornhill
Rental Inventory Overview for Thornhill
FastScreen currently monitors 5 residential condominium and apartment buildings across Thornhill. There are currently no active rental units publicly listed across these monitored properties. Verified closed lease comps, realized contract pricing, and building performance benchmarks are detailed in the verified transaction section below.
Closed Leases
Transactions that closed in the Past 90 Days across Thornhill
Thornhill Rental Rates by Unit Layout
Realized lease pricing, square footage, and pricing spreads across layout configurations based on transactions in Past 90 Days (expanded 90-day window).
Thornhill Tracked Buildings & Lease Comps
Compare average realized rents, price per square foot ($/SF), active availability, and leasing velocity across tracked condo buildings in Thornhill, Markham.
| Action | |||||
|---|---|---|---|---|---|
Crystal Palace Condo 7451 Yonge Street | $2,600/mo | $2.36/SF | 1lease | 0units | Comps |
16a Elgin Street 16a Elgin Street | — | — | 0leases | 0units | Comps |
Northgage Condos 16 Elgin Street | — | — | 0leases | 0units | Comps |
Northgage Condos 16B Elgin Street | — | — | 0leases | 0units | Comps |
Thornlea Place Condominium Residences 180 Dudley Avenue | — | — | 0leases | 0units | Comps |
7451 Yonge Street
16a Elgin Street
16 Elgin Street
16B Elgin Street
180 Dudley Avenue
Derived from verified closed lease contracts finalized during Past 90 Days across multi-residential buildings in Thornhill.
Realized monthly lease price divided by interior living square footage (excluding external terraces and parking valuations).
Total executed lease agreements. In boutique buildings with fewer than 2 monthly leases, comps automatically expand to a 90-day rolling window to preserve statistical validity.
The duration from public MLS listing publication to final binding agreement. Active supply reflects current vacant or upcoming units available for rent.
Thornhill Rental Market Dynamics & Local Yield Trends
Comprehensive Residential Market & Yield Overview for Thornhill
As of late summer 2026, the Thornhill submarket within Markham—primarily concentrated around postal forward sortation area L3T—is experiencing an inventory freeze characterized by zero active listings currently available on the public market. Based on verified transaction records through the end of August 2026, Thornhill recorded an average realized rent of $2,600 per month based on 1 closed lease over the trailing 30 days, alongside 0 active listings currently on the market, backed by a tracked baseline across 5 buildings. Because active listings sit at zero, asking-to-realized spreads and active absorption rates cannot be calculated for the current period, reflecting a tight multi-residential leasing environment where available suites are absorbed off-market or immediately upon listing.
When evaluated against the broader Markham municipal benchmark of $2,506 per month, Thornhill rental rates command a modest premium of $94, or 3.75%. Transaction volume over the mid-term window highlights steady turnover across larger multi-bedroom formats, with 2-bedroom configurations leading recent closed lease volume across the submarket's tracked residential developments.
Submarket Pricing Density & Municipal Benchmark Spread
The realized average lease rate in Thornhill is currently $2,600/month ($2.36/SF), with an average leasing velocity of 63 Days on Market. Compared to the overall Markham municipal benchmark ($2,590/month), Thornhill trades at a 0% price premium, reflecting local transit connectivity, tenant demand, and building amenity standards.
Month Over Month Trends
Short-term month-over-month price adjustments cannot be calculated for the current August 2026 reporting period due to zero closed leases recorded in the prior 30-day baseline window (`leases_prior_30d` equal to zero). Evaluating transactional movement requires analyzing rolling multi-month performance: the 30-day average realized rent of $2,600 per month compares against a 90-day rolling average of $2,750 per month across 3 closed leases, illustrating minor variance driven by individual unit size, floor height, and specific building amenities within the L3T postal node rather than broader market deflation.
Longer Term Trends & Rental Dispersion
Long-term leasing data across Thornhill's 5 tracked buildings establishes an all-time baseline average realized rent of $2,810 per month at $2.63 per square foot across 5 historical closed leases. Mid-term tracking shows a 90-day average of $2,750 per month across 3 signed leases and a 180-day average of $2,810 per month across 5 leases, indicating steady price stabilization.
Rental rate dispersion across the submarket's middle 50% spans from a 25th percentile benchmark of $2,600 to a 75th percentile benchmark of $3,000 per month, yielding an interquartile range (IQR) of $400. Overall recorded extremes range from a market low of $2,500 to a peak of $3,150 per month, with a median realized lease rate of $2,800 per month across the sample size of 5 tracked transactions.
Currently across Thornhill's 5 tracked multi-family properties, there are 0 active rental listings with an average asking rent of $0/month ($0.00/SF). For closed transactions executed in Past 90 Days (expanded to rolling 90-day transactions for statistical reliability), realized lease agreements averaged $2,600/month, representing real-world contract values negotiated between property owners and prospective tenants.
For Renters
Renters targeting Thornhill should anticipate a competitive environment defined by zero public active listings and disciplined pricing. Prospective tenants should anchor their budgeting within the submarket's middle 50% price band, where typical monthly rents range between $2,600 (25th percentile) and $3,000 (75th percentile) per month. For renters evaluating layout step-ups, upgrading from a standard 2-bedroom suite to a 2-bedroom plus den configuration increases average space by 50 square feet (from 1,050 sqft to 1,100 sqft) and raises monthly costs by $517, or 19.64% (moving from $2,633 to $3,150 per month). Stepping from a standard 2-bedroom to a 3-bedroom-plus unit adds 50 square feet and increases rent by $367 per month (a 13.94% premium to $3,000 per month). Because Thornhill properties average 63 days on the market, renters have slightly more negotiation room on stale private listings, though active supply remains severely restricted.
For Landlords
Landlords and condo investors with assets in Thornhill operate within a zero-vacancy submarket where public active inventory is currently non-existent. Because active listings stand at zero, asking-to-realized spreads cannot be computed; landlords must anchor their pricing strategies strictly to recent closed lease comparables rather than aspirational targets. With closed 2-bedroom units realizing an average of $2,600 to $2,633 per month ($2.36 to $2.51 per square foot) and premium layouts like Northgage Condos achieving up to $3,150 per month, owners should price units precisely within the submarket's middle 50% band ($2,600 to $3,000 per month). Overpricing beyond these realized benchmarks risks extending leasing timelines past the submarket average of 63 days, while competitively priced suites capture immediate attention from renters navigating the L3T inventory squeeze.
For Realtors
Real estate professionals representing clients in Thornhill must navigate an exceptionally tight inventory landscape defined by 0 active listings across the submarket's 5 tracked buildings. Market liquidity is currently driven entirely by closed transactions, with 1 lease executed over the past 30 days at $2,600 per month ($2.36/sqft) and 3 leases executed over the trailing 90 days averaging $2,750 per month ($2.62/sqft). Agents should advise buyer and tenant clients that properties in L3T average 63 days on the market—leasing 36 days slower than the Markham municipal norm of 27 days. When structuring lease offers on 2-bedroom and larger multi-bedroom layouts, agents should utilize the submarket's $400 interquartile range ($2,600 to $3,000 per month) to manage client pricing expectations effectively.
Thornhill Rental Market & Leasing FAQs
Essential insights for tenants, property owners, and real estate professionals navigating Thornhill, Markham
What is the average rent for a condominium or apartment in Thornhill, Markham?
Thornhill's average realized lease price is $2,600 per month ($2.36/sqft), based on 1 recorded transaction over the trailing 30 days ending August 31, 2026. The middle 50% of the market spans an interquartile range from $2,600 (25th percentile) to $3,000 (75th percentile) per month, with an overall median realized rent of $2,800 per month. This submarket benchmark sits 3.75% higher than the broader Markham municipal average of $2,506 per month.
How much is a 1-bedroom apartment in Thornhill?
Detailed 1-bedroom apartment lease metrics for Thornhill are currently unlisted due to zero recorded closed transactions for this specific layout in the current tracking window. Renters seeking 1-bedroom configurations in the L3T postal area should monitor active listings closely as private condo inventory enters the market.
How much is a 2-bedroom apartment in Thornhill?
The average rent for a 2-bedroom apartment in Thornhill, Markham is $2,633 per month ($2.51/sqft) across a 180-day lookback window comprising 3 closed leases, while 2-bedroom plus den suites average $3,150 per month ($2.86/sqft) based on 1 closed lease. Most 2-bedroom units lease between $2,550 (25th percentile) and $2,700 (75th percentile) per month, offering an average of 1,050 square feet of living space.
How much is a 3-bedroom apartment in Thornhill?
Three-bedroom apartment rentals in Thornhill represent a scarce inventory segment, with 1 closed lease recorded over the 180-day tracking window averaging $3,000 per month ($2.73/sqft) across an average size of 1,100 square feet. Renters seeking multi-bedroom family layouts should monitor active listings closely as larger suites become available.
What are the most affordable and premium condo and apartment buildings in Thornhill?
Within Thornhill, Northgage Condos commands the highest average lease rate at approximately $3,150 per month, while Thornlea Place Condominium Residences offers entry-level private transactions starting around $2,500 per month based on verified closed lease data.
How does rent in Thornhill compare to the overall Markham average?
Thornhill rents average $2,600 per month, which is higher than the overall Markham municipal average of $2,506 per month (a spread of $94 or 3.75%). Properties in Thornhill spend an average of 63 days on the market—leasing 36 days slower than the broader Markham municipal benchmark of 27 days.
What are the postal code FSAs for Thornhill?
Condo and apartment rentals in Thornhill primarily fall within postal forward sortation areas (FSAs) such as L3T.
How fast do rental units lease in Thornhill (Days on Market)?
Rental listings in Thornhill spend an average of 63 days on the market before leasing, based on 30-day tracking through August 31, 2026—leasing 36 days slower than the broader Markham municipal benchmark of 27 days.
How should landlords price their rental listings in Thornhill to avoid vacancy loss?
With active listings sitting at zero suites and closed leases averaging $2,600 per month over the trailing 30 days, asking-to-realized spreads cannot be calculated for the current period. Landlords should price units in line with recent closed lease benchmarks—keeping within the middle 50% band of $2,600 to $3,000 per month—to prevent vacancy extending past the submarket average of 63 days.
How much more will a unit with a parking spot in Thornhill rent for versus a unit without one?
A distinct parking premium cannot be isolated from current data because most tracked listings either bundle parking into the lease or sample variations in unit size obscure the standalone rate.
Are parking spaces, lockers, and utilities included in Thornhill rents?
Tenants in modern Ontario condos should budget separately for hydro and heat pump consumption. Bulk water service and structural maintenance are bundled into the building corporation's operating expenses and paid by the landlord.
Explore Other Markham Submarkets
Compare neighbourhood comps and rental rates for leased units across Markham against Thornhill