Richmond Hill Rental Market Data & Neighbourhood Trends

Active rental inventory in Richmond Hill totals 94 listings, carrying an average asking rent of $2,792 per month and an average asking rate of $3.84 per square foot. Compared against the latest 30-day realized lease average of $2,521 per month ($3.74 per square foot), the data establishes an asking-versus-realized spread of $271 per month across current active stock. Across bedroom configurations, asking rents range from apartment stock up to larger multi-bedroom layouts, while the broader municipal absorption rate rests at 45.7 percent. When positioned against adjacent regional peers, Richmond Hill's active pricing sits slightly above Vaughan's effective average of $2,415 per month and Markham's $2,506 per month, while aligning closely with North York's $2,572 per month benchmark.

Leasing velocity in Richmond Hill averaged 27 days on market over the latest 30-day observation window across 79 recorded leases, matching the 27-day average recorded over the trailing 90-day window (273 leases). This current velocity tracks closely with the broader GTA 30-day average of 24 days, trailing by a modest 3 days. Compared to adjacent regional municipalities, Richmond Hill's 27-day leasing pace mirrors Markham's 27-day effective benchmark and North York's 27-day average, while operating 4 days slower than Vaughan's 23-day effective leasing window. Mid-term tracking shows a stable leasing volume, with 398 total historical leases recorded across the 180-day and all-time monitoring period at a consistent average DOM of 29 days.