Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Prices are close: the median detached home sold for $1,420,000 in Markham and $1,485,000 in Richmond Hill in January to October 2026. Markham has the lower 2026 tax rate (0.72% vs 0.76%) and all-day two-way GO trains. Richmond Hill has peak-only GO service but sits on the future Yonge subway extension.
This guide is for buyers choosing between Markham and Richmond Hill for 2027, two York Region cities that sit side by side along Highway 404. You will get the latest MLS prices by home type, selling speed, the 2026 tax rates from each city’s own website, GO and subway plans, schools and who each city suits best.
Markham vs Richmond Hill: which is more expensive in 2026?
The two cities are priced very closely. Richmond Hill is a little higher for houses, and Markham is a little higher for condo apartments. The table shows median sold prices for January to October 2026. A median is the middle sale, so half of homes sold for more and half for less.
| Home type | Markham median | Markham vs 2025 | Markham sales | Richmond Hill median | Richmond Hill vs 2025 | Richmond Hill sales |
|---|---|---|---|---|---|---|
| Detached | $1,420,000 | −6.5% | 1,113 | $1,485,000 | −8.9% | 838 |
| Semi-detached | $1,025,000 | −12.2% | 151 | $1,051,000 | −7.7% | 71 |
| Freehold townhouse | $999,990 | −10.9% | 391 | $1,040,000 | −9.4% | 313 |
| Condo apartment | $558,000 | −13.2% | 582 | $529,250 | −8.8% | 344 |
Source: TRREB MLS data via REALM, January–October 2026 vs the same period of 2025. Median sold prices and sales counts, year to date.
Richmond Hill’s detached median of $1,485,000 is $65,000 above Markham’s $1,420,000. Freehold townhouses differ by about $40,000 and semis by about $26,000. For condo apartments, Markham is about $29,000 higher at $558,000.
Markham is the larger market. It recorded 1,113 detached sales and 582 condo apartment sales in the first ten months of 2026, compared with 838 and 344 in Richmond Hill. A bigger market gives you more listings and more recent sales to judge a fair price.
For single-city detail, see my guides to house values in Markham and house values in Richmond Hill.
How much did Markham and Richmond Hill prices fall in 2026?
Both cities saw real drops compared with January to October 2025. Richmond Hill detached homes fell 8.9%, more than Markham’s 6.5%. Markham condo apartments fell 13.2%, against 8.8% in Richmond Hill. Richmond Hill condo townhouses fell the most of any type, down 15.6%.
Over two years the drop is larger. Richmond Hill’s detached median was $1,774,400 in January to October 2024, so it is now about $289,000 lower. Markham’s was $1,650,000 and is now about $230,000 lower.
Detached sales rose in both cities, by 10.6% in Markham and 10.7% in Richmond Hill. Lower prices brought more house buyers off the sidelines in 2026.
Where do homes sell faster, Markham or Richmond Hill?
Selling speed is similar in both cities. “Days on market” is the average time a listing takes to sell. More days usually means buyers have more time and more room to negotiate.
| Home type | Markham 2026 | Markham 2025 | Richmond Hill 2026 | Richmond Hill 2025 |
|---|---|---|---|---|
| Detached | 29 days | 27 days | 31 days | 30 days |
| Semi-detached | 28 days | 25 days | 27 days | 29 days |
| Freehold townhouse | 29 days | 27 days | 32 days | 27 days |
| Condo apartment | 39 days | 35 days | 42 days | 36 days |
Source: TRREB MLS data via REALM, average days on market, January–October 2026 and January–October 2025.
Every major type except Richmond Hill semis took longer to sell than in 2025. Condo apartments are the slowest in both cities, at 39 days in Markham and 42 in Richmond Hill. REALM shows 506 active detached listings in Richmond Hill against 838 sold year to date, a higher ratio than Markham’s 458 listings against 1,113 sales. That suggests buyers in Richmond Hill have a bit more choice right now.
How much down payment do you need in Markham vs Richmond Hill?
Canada’s minimum down payment is 5% of the first $500,000 and 10% of the portion from $500,000 to $1.5 million. At $1.5 million or more, it is 20%.
- Markham median detached ($1,420,000): about $117,000 minimum.
- Richmond Hill median detached ($1,485,000): about $123,500 minimum.
- Markham median condo ($558,000): about $30,800 minimum.
- Richmond Hill median condo ($529,250): about $27,900 minimum.
Both detached medians sit just under $1.5 million. Many homes in both cities sell above that line, where 20% down is required. My guide on how much home you can afford in the GTA explains the stress test and the $1.5 million rule.
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Which has lower property taxes, Markham or Richmond Hill?
Markham has the slightly lower 2026 rate. Both cities share the same York Region and education rates, so the difference is the local city portion.
| 2026 residential rate | Markham | Richmond Hill |
|---|---|---|
| City portion | 0.177477% | 0.214692% |
| York Region portion | 0.392412% | 0.392412% |
| Education portion | 0.153000% | 0.153000% |
| Total rate | 0.722889% | 0.760104% |
| Tax on an $800,000 assessed value | about $5,783 | about $6,081 |
Source: City of Markham and City of Richmond Hill 2026 tax rate pages.
Markham says its average residential assessment in 2026 is $822,671, which works out to a total bill of about $5,947. Assessments are still based on January 1, 2016 values, so they are usually far below today’s market price. Always ask for the actual tax bill on the home you want.
Which is better for commuting to Toronto?
Markham has more GO train service today. The Stouffville line has stations at Unionville, Centennial, Markham and Mount Joy. Trains run hourly in both directions, seven days a week, between Union Station and Unionville or Mount Joy, with more trips at rush hour.
Richmond Hill has four stations on the Richmond Hill GO line: Langstaff, Richmond Hill, Gormley and Bloomington. Trains on that line run only at weekday peak hours, south in the morning and north in the evening. A GO bus covers off-peak times.
Both cities rely on Highway 404, which runs along their shared border and becomes the Don Valley Parkway into Toronto, and the 407 toll highway. York Region Transit and its Viva rapid buses serve both.
The big future change is the Yonge North Subway Extension. Metrolinx describes it as about 8 km with five stations, running north from Finch into Vaughan, Markham and Richmond Hill. A key stop near Highway 7 and the 407 will link to Langstaff GO. Metrolinx finished digging the tunnel launch shaft in July 2026, and says the line will open after the Ontario Line, which has no confirmed date. Treat it as a long-term plus, not a 2027 commute.
Some sellers and builders near Yonge and Highway 7 market homes as “steps to the subway.” The extension is under construction with no confirmed opening date. Judge the commute you will have on the day you move in, and treat any subway premium in the price with caution.
What are the schools like in Markham and Richmond Hill?
Both cities are served by the York Region District School Board for public schools and the York Catholic District School Board for Catholic schools, plus two French-language boards. That means the school system is the same across the city line. The difference comes down to the specific school.
In Richmond Hill, the public board runs 27 elementary schools and five secondary schools, including Bayview, Langstaff, Richmond Green, Alexander Mackenzie and Richmond Hill High School. The Catholic board runs 13 elementary and two secondary schools there.
Markham’s public high schools include Unionville, Markville, Bur Oak, Pierre Elliott Trudeau and Middlefield, among others. York University opened its Markham Campus downtown in September 2024, and Seneca has a campus near Highway 7 and the 404.
School boundaries can change and can split a street. Check the board’s school locator for the exact address. My guides to the best schools in Markham and the best schools in Richmond Hill go deeper.
What is life like in Markham vs Richmond Hill?
Markham is the bigger city, with 338,503 people in the 2021 Census, the largest in York Region. It is a major tech employment centre and mixes historic main streets in Unionville and Markham Village with newer subdivisions and a growing downtown.
Richmond Hill had 202,022 people in 2021 and is more compact. It sits on higher ground, with the Oak Ridges Moraine covering roughly its northern third. It has 167 parks, Lake Wilcox, Mill Pond and Richmond Green, and a more residential feel along the Yonge corridor.
Because prices are so close, I tell clients to decide on daily life, not on a few percent. If you need GO train service outside rush hour, Markham has the edge today. If you want the Yonge corridor and are willing to wait years for the subway, Richmond Hill has strong long-term appeal. Compare the exact school, the exact commute and the tax bill on the home, and the right city usually becomes clear.
Who should pick Markham?
- Commuters who want two-way GO trains all day on the Stouffville line.
- Buyers who want the slightly lower tax rate and a bigger market to choose from.
- People working in Markham’s tech and business parks along Highway 7 and the 404.
- Buyers who like historic main streets as well as new communities.
Who should pick Richmond Hill?
- Buyers who want to be on the Yonge corridor near the future subway extension.
- Condo buyers, since the median condo apartment is a little cheaper.
- Families who value parks, lakes and the Oak Ridges Moraine landscape.
- Rush-hour commuters who can use the Richmond Hill GO line or Highway 404.
If you are shopping at the top end, my Richmond Hill luxury neighbourhood guide covers the high-end pockets.
What to do next
- Compare the median for your home type in the table, then check if your budget crosses $1.5 million.
- Get pre-approved so you know your real limit at current rates.
- Test your commute from two neighbourhoods in each city at the time you would travel.
- Confirm the school catchment and the current tax bill for every home you shortlist.
- Book a call with me to compare specific homes on both sides of the 404.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Is Markham cheaper than Richmond Hill?
Slightly, for houses. From January to October 2026, the median detached price was $1,420,000 in Markham and $1,485,000 in Richmond Hill, a $65,000 gap. For condo apartments it flips: Markham’s median was $558,000 and Richmond Hill’s $529,250. These city-wide medians are from TRREB MLS data via REALM, so neighbourhood prices can differ.
Is Markham better than Richmond Hill?
Neither is better for everyone in 2027. Markham has more GO train service, with two-way trains all day on the Stouffville line, a slightly lower tax rate and a bigger market. Richmond Hill offers the Yonge corridor, the future subway extension and lots of parkland. Prices are close, so commute, school and lifestyle should decide it.
Does Markham or Richmond Hill have higher property taxes?
Richmond Hill has the higher 2026 rate. Its total residential rate is 0.760104%, compared with 0.722889% in Markham, according to each city’s 2026 tax rates. On an $800,000 assessment, that is about $6,081 in Richmond Hill versus $5,783 in Markham. Bills are based on 2016 assessed values, not current prices.
When will the Yonge subway extension to Richmond Hill open?
There is no confirmed opening date as of November 2026. Metrolinx says the roughly 8 km extension from Finch to Richmond Hill, with five stations, will open after the Ontario Line is complete, and the Ontario Line itself has no confirmed date. The tunnel launch shaft was finished in July 2026, so do not plan a 2027 commute around it.
Does the GO train run all day in Richmond Hill?
No. Richmond Hill GO line trains run only during weekday peak hours, south to Union Station in the morning and north in the afternoon. A GO bus covers off-peak times. The city has four stations: Langstaff, Richmond Hill, Gormley and Bloomington. Markham’s Stouffville line, by contrast, has hourly two-way trains seven days a week.
Do Markham and Richmond Hill have the same school boards?
Yes. Both cities are served by the York Region District School Board for English public schools and the York Catholic District School Board for English Catholic schools, plus two French-language boards. The school you get depends on the exact address, so check the board’s locator before you make an offer on any home in 2027.
How much down payment do I need for a house in Markham?
About $117,000 at Markham’s 2026 median detached price of $1,420,000. The rule is 5% of the first $500,000 and 10% of the amount from $500,000 to $1.5 million. Homes at $1.5 million or more need 20% down, which is $300,000 at that price. Many Markham houses sell above that line.
Are home prices falling in Markham and Richmond Hill?
Prices were lower in 2026 than in 2025 in both cities. From January to October 2026, Markham’s median detached price fell 6.5% and Richmond Hill’s fell 8.9% from the same months of 2025. Markham condo apartments fell 13.2%. These are past results from TRREB MLS data via REALM, not a forecast.
How long does it take to sell a home in Markham vs Richmond Hill?
Detached homes averaged 29 days on market in Markham and 31 days in Richmond Hill from January to October 2026, based on TRREB MLS data via REALM. Condo apartments were slower, at 39 days in Markham and 42 in Richmond Hill. Most home types took a few days longer than in 2025.
Sources
- City of Markham: About Your Tax Bill (2026 tax rates)
- City of Richmond Hill: Tax Rates
- Metrolinx: Yonge North Subway Extension
- Wikipedia: Markham, Ontario
- Wikipedia: Richmond Hill, Ontario
- Wikipedia: Stouffville line (GO Transit)
- Wikipedia: Richmond Hill line (GO Transit)
- York Region District School Board: About Us
Related reading
- Mississauga vs Oakville in 2027: Prices, Commute and Which Fits You
- Brampton vs Mississauga in 2027: Prices, Commute and Which Fits You
- Vaughan vs Markham in 2027: Prices, Commute and Which Fits You
- Oakville vs Burlington in 2027: Prices, Commute and Which Fits You
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.