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 September 2026, the Thornhill submarket in Markham—encompassing postal forwarding sector L3T across 5 tracked multi-residential developments—operates within an inventory freeze characterized by zero public active listings. With zero active listings currently available on the market, traditional asking-to-realized spreads cannot be calculated for the current period, and rental properties lease off-market or are absorbed immediately upon availability. Based on the 90-day effective tracking window ending September 30, 2026, Thornhill recorded an effective average realized rent of $2,600 per month at $2.36 per square foot across 1 closed lease, accompanied by 5 total historical leases over the trailing 180-day baseline. Realized lease pricing in Thornhill closely mirrors the broader Markham municipal benchmark of $2,605 per month, reflecting a negligible variance of -$5 (-0.19%). However, leasing velocity in the submarket diverges from the municipal pace, with properties recording an effective average of 63 days on the market—leasing 40 days slower than the broader Markham municipal average of 23 days.
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Analyze verified lease comps and active asking rates across 5 buildings in Thornhill.
Active Rental Inventory
No tracked inventory as of September 2026Current active rental availability status across Thornhill
Rental Inventory Overview for Thornhill
FastScreen currently monitors 5 residential condominium and apartment buildings across Thornhill. There are currently no active rental units publicly listed across these monitored properties. Verified closed lease comps, realized contract pricing, and building performance benchmarks are detailed in the verified transaction section below.
Closed Leases
Transactions that closed in the Past 90 Days across Thornhill
Thornhill Rental Rates by Unit Layout
Realized lease pricing, square footage, and pricing spreads across layout configurations based on transactions in Past 90 Days (expanded 90-day window).
Thornhill Tracked Buildings & Lease Comps
Compare average realized rents, price per square foot ($/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 September 2026, the Thornhill submarket in Markham—encompassing postal forwarding sector L3T across 5 tracked multi-residential developments—operates within an inventory freeze characterized by zero public active listings. With zero active listings currently available on the market, traditional asking-to-realized spreads cannot be calculated for the current period, and rental properties lease off-market or are absorbed immediately upon availability. Based on the 90-day effective tracking window ending September 30, 2026, Thornhill recorded an effective average realized rent of $2,600 per month at $2.36 per square foot across 1 closed lease, accompanied by 5 total historical leases over the trailing 180-day baseline. Realized lease pricing in Thornhill closely mirrors the broader Markham municipal benchmark of $2,605 per month, reflecting a negligible variance of -$5 (-0.19%). However, leasing velocity in the submarket diverges from the municipal pace, with properties recording an effective average of 63 days on the market—leasing 40 days slower than the broader Markham municipal average of 23 days.
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 ($2,605/month), Thornhill trades at a 0% discount, reflecting local transit connectivity, tenant demand, and building amenity standards.
Month Over Month Trends
Short-term month-over-month price adjustments are neutral due to zero recorded closed transactions over the immediate trailing 30-day window. While the prior 30-day period recorded 1 closed lease at $2,600 per month ($2.36 per square foot), the current 30-day tracking period recorded zero closed leases. Consequently, month-over-month dollar and percentage adjustments remain unquantifiable, and pricing trends are anchored by the 90-day rolling baseline of $2,600 per month.
Longer Term Trends & Rental Dispersion
Mid-term performance indicators show long-term pricing stability backed by a total historical sample of 5 closed leases averaging $2,810 per month at $2.63 per square foot. Overall rent dispersion across the submarket spans from a minimum of $2,500 to a maximum of $3,150 per month, with a median realized rent of $2,800. The interquartile range defines the middle 50% of the market between $2,600 (25th percentile) and $3,000 (75th percentile), yielding an IQR spread of $400. This dispersion reflects a clear pricing tier separating entry-level multi-residential suites from executive 2-bedroom plus den layouts.
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
Prospective tenants searching in Thornhill should prepare for a highly competitive environment driven by zero active public listings and limited suite turnover. Renters should target the submarket's middle 50% benchmark range, where realized leases typically span from $2,600 to $3,000 per month. Stepping up from a standard 2-bedroom suite (averaging $2,633 per month at 1,050 square feet) to a 2-bedroom plus den configuration (averaging $3,150 per month at 1,100 square feet) commands an additional $517 per month (+19.64%) for 50 square feet of extra space. Meanwhile, transitioning from a 2-bedroom unit to a 3-bedroom layout (averaging $3,000 per month at 1,100 square feet) requires a rent step-up of $367 per month (+13.94%). With an average of 63 days on the market, applicants must act decisively when private inventory surfaces.
For Landlords
Real estate investors and landlords holding property in Thornhill benefit from a zero-vacancy supply dynamic but must anchor pricing expectations in verified closed lease comparables. Because active inventory stands at zero, landlords should review the 90-day realized average of $2,600 per month and the submarket interquartile range ($2,600 to $3,000) rather than relying on aspirational asking targets. Overpricing properties outside the established middle 50% band risks extending vacancy timelines beyond the submarket's 63-day average. Landlords should also note that unbundled parking premiums cannot be isolated from current lease comps due to bundle practices across sample buildings.
For Realtors
Real estate professionals representing clients in Thornhill must navigate an exceptionally tight inventory landscape defined by 0 active listings across 5 tracked developments in the L3T postal area. With properties spending an average of 63 days on the market—leasing 40 days slower than the broader Markham municipal benchmark of 23 days—agents must advise buyer and tenant clients that liquidity is concentrated in off-market transactions and rapid absorption cycles. Managing client expectations around list-to-lease spreads requires relying on the 180-day realized average of $2,810 per month and understanding that 2-bedroom plus den layouts command an upper-tier premium averaging $3,150 per month.
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 per square foot), based on 1 recorded transaction over the trailing 90 days ending September 30, 2026. The middle 50% of the market ranges between $2,600 (25th percentile) and $3,000 (75th percentile), with an overall median rent of $2,800. This performance closely aligns with the broader Markham municipal average of $2,605 per month, representing a minimal variance of -$5 (-0.19%).
How much is a 1-bedroom apartment in Thornhill?
Detailed 1-bedroom and 1-bedroom plus den rental breakdowns for Thornhill are currently unquantified in active leasing datasets due to zero recorded transactions for this specific configuration during the tracking period. Renters seeking 1-bedroom apartments in the L3T postal area should monitor available inventory closely as private condo suites come to 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 per square foot) based on 180-day historical lease data, while 2-bedroom plus den suites average $3,150 per month ($2.86 per square foot) across 1,100 square feet. Most 2-bedroom units lease between $2,550 (25th percentile) and $2,700 (75th percentile) per month, with an interquartile range of $150. Stepping up to a 2-bedroom plus den configuration adds $517 per month (+19.64%) in rent and 50 square feet in living space.
How much is a 3-bedroom apartment in Thornhill?
The average rent for a 3-bedroom apartment in Thornhill, Markham is $3,000 per month ($2.73 per square foot), based on 180-day historical data across 1,100 square feet. Three-bedroom apartment rentals in Thornhill represent a highly scarce inventory segment with limited closed transactions recorded in the current tracking period. Renters seeking multi-bedroom 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 ($2.86 per square foot), while Thornlea Place Condominium Residences offers the most accessible entry point at around $2,500 per month ($2.63 per square foot) based on tracked private condo transactions.
How does rent in Thornhill compare to the overall Markham average?
Rental rates in Thornhill closely mirror the wider Markham municipal average, with both benchmarks sitting at $2,600 per month. Properties in Thornhill spend an average of 63 days on the market—leasing 40 days slower than the broader Markham municipal benchmark of 23 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)?
Properties in Thornhill spend an average of 63 days on the market—leasing 40 days slower than the broader Markham municipal benchmark of 23 days, based on 90-day effective tracking through September 30, 2026.
How should landlords price their rental listings in Thornhill to avoid vacancy loss?
With active listings currently sitting at zero, asking-to-realized spreads cannot be calculated for the current period. Landlords in Thornhill should price in line with recent realized benchmarks—specifically anchoring rates within the submarket's middle 50% interquartile band of $2,600 to $3,000 per month—to prevent vacancy timelines from exceeding the submarket's 63-day average.
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?
Across most Ontario condominium developments, suite electricity (hydro) and climate energy are individually metered and paid by the tenant, whereas water and building maintenance are covered by the owner's condo fees.
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