Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
A one-bedroom condo in Markham leased for an average of $2,214 a month and a two-bedroom for $2,840 in Q2 2026, TRREB’s latest report. Three-bedroom townhouses averaged $3,290. liv.rent’s unfurnished one-bedroom asking rent was $2,081 in October 2026, up 5.7% in a year. No source publishes basement-only averages.
This guide is for renters weighing Markham for 2027, and for Markham owners who want to know what a condo, townhouse or basement could rent for. You will get the latest averages from four named sources, why two of them disagree, what is and is not published for houses and basements, Markham’s registration rule for basement units, and the income you need.
What is the average rent in Markham right now?
A one-bedroom condo apartment in Markham leased for an average of $2,214 a month in the second quarter of 2026, and a two-bedroom for $2,840. That is the latest report from the Toronto Regional Real Estate Board (TRREB), based on 742 Markham condo leases. TRREB had not released its third-quarter report when I checked on 5 November 2026.
| Source and date | What it counts | 1-bedroom | 2-bedroom | 3-bedroom |
|---|---|---|---|---|
| TRREB, Q2 2026 | Condo apartments leased on MLS (average) | $2,214 | $2,840 | $3,573 (19 leases) |
| liv.rent, October 2026 | Unfurnished asking rents, all listing types | $2,081 | $2,478 | No data |
| CMHC, October 2025 | Purpose-built apartments in the Markham zone | $1,885 | $1,996 | $1,969 |
| CMHC, October 2025 | Rented condo apartments, York Region | $2,401 | $2,845 | Not published |
Source: TRREB Rental Market Report Q2 2026; liv.rent October 2026 Ontario Rent Report; CMHC Rental Market Survey, Toronto CMA tables, October 2025. CMHC rates its Markham two-bedroom figure as only “good” quality, so use it with care.
Markham is one of the pricier places to rent in Canada. In liv.rent’s October 2026 report, Markham’s unfurnished one-bedroom average of $2,081 ranked among the five most expensive cities in the country, and its asking rent per square foot of $3.14 was the second highest of all the areas liv.rent tracks.
How much is a condo to rent in Markham?
Condo apartments make up most of the leases TRREB tracks in Markham, far ahead of townhouses. TRREB counted 973 Markham condo apartments listed for rent in Q2 2026, and 742 were leased.
| Condo apartment, Q2 2026 | Leases | Markham average | York Region average | GTA average |
|---|---|---|---|---|
| 1-bedroom | 445 | $2,214 | $2,190 | $2,273 |
| 2-bedroom | 277 | $2,840 | $2,772 | $3,013 |
| 3-bedroom | 19 | $3,573 | $3,512 | $3,779 |
Source: TRREB Rental Market Report Q2 2026. GTA average covers all TRREB areas.
Markham condos rent for slightly more than the York Region average but below the GTA average. If you are still choosing an area, my picks for the best neighbourhoods to live in Markham explain what each part of the city is like.
How much does it cost to rent a house or townhouse in Markham?
TRREB recorded 85 townhouse leases in Markham in Q2 2026. Two-bedroom townhouses averaged $2,667 and three-bedrooms $3,290, based on 35 and 45 leases.
liv.rent did not publish an unfurnished three-bedroom figure for Markham in October 2026, but its furnished three-bedroom asking rent was $2,940. CMHC’s survey had too few purpose-built rental townhouses in Markham to publish a figure.
No public report gives an average rent for a detached house in Markham. Homes in Unionville, Cornell and Markham Village differ a lot in age, size and lot, so one average would not help much. Ask a realtor to pull recent MLS leases for similar houses on the streets you want.
How much is a basement for rent in Markham?
No public source publishes an average basement rent for Markham. liv.rent and Rentals.ca include basement apartments in their data, but neither separates them.
Use liv.rent’s unfurnished one-bedroom asking rent of $2,081 as a rough ceiling for a one-bedroom basement. Then adjust down for low ceilings, small windows, shared laundry, no parking, or paying a share of the utilities. A bright, legal unit with its own entrance and laundry can sit close to that ceiling.
How do I check if a Markham basement is registered?
The City of Markham requires every two-unit house to be registered, and both units are inspected for building and fire safety. For an existing second suite, the owner books a fire inspection, which costs $260, then pays $246 to register. A unit built before 1 July 1993 can qualify under the Ontario Fire Code’s retrofit rules if the owner can prove its age. Since Ontario’s Bill 23 changes, urban lots in Markham can have up to three units.
As a tenant, simply ask the landlord whether the house is registered as a two-unit home with the City, and ask to see the paperwork. An inspected unit gives you some assurance that smoke alarms, fire separation and exits meet the rules.
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Are rents in Markham going up or down?
The two newest reports disagree, and the reason is useful. Rentals.ca and Urbanation reported Markham apartment and condo asking rents down 5.4% year over year in October 2026. liv.rent, which tracks unfurnished listings of every type, including houses and basements, reported Markham one-bedrooms up 5.7%, from $1,968 to $2,081. That was the largest annual increase of the 20 Ontario areas it covers.
My reading is that condo rents in Markham are still soft, while smaller units in houses have firmed up. CMHC’s October 2025 survey also showed very little slack in York Region’s rented condos, with a vacancy rate of 0.8%.
My view, and it is only a view: expect Markham rents to be roughly flat in 2027 for condos and slightly firmer for units in houses. In Toronto, Rentals.ca reported the first annual increase in 32 months in October 2026, and York Region often moves with Toronto.
How much income do you need to rent in Markham?
CMHC calls housing affordable when it costs less than 30% of household income before tax. That works out to a yearly household income of about 40 times your monthly rent.
| Home type (source) | Monthly rent | Income needed at 30% |
|---|---|---|
| Unfurnished 1-bedroom asking rent (liv.rent, Oct 2026) | $2,081 | $83,240 |
| Condo 1-bedroom (TRREB, Q2 2026) | $2,214 | $88,560 |
| Condo 2-bedroom (TRREB, Q2 2026) | $2,840 | $113,600 |
| 3-bedroom townhouse (TRREB, Q2 2026) | $3,290 | $131,600 |
Source: CMHC definition of affordable housing (under 30% of before-tax household income); rents from TRREB Q2 2026 and liv.rent October 2026. Income figures are my arithmetic: monthly rent x 12 / 0.30.
Landlords set their own tests and will usually ask for an employment letter, pay stubs and a credit report. My guide to what a landlord can ask on a rental application in Ontario shows where the limits are.
What rent rules apply to Markham tenants in 2027?
Ontario’s rent increase guideline for 2027 is 1.9%. On a $2,214 one-bedroom, that is about $42 a month. A landlord must wait at least 12 months between increases and give at least 90 days’ written notice. My guide to the Ontario rent increase guideline for 2027 explains the forms.
Units first occupied for residential use after 15 November 2018 are exempt from the guideline. That includes any Markham condo tower completed since then and any basement created since then. Ask the landlord for the date the unit was first lived in before you sign.
At move-in, a landlord can ask for a rent deposit of no more than one month’s rent, held for your last month. My article on rental deposit rules in Ontario explains what to do if you are asked for more.
Renting a room in a Markham house is not the same as renting a basement apartment. If you share a kitchen or bathroom with the owner, or the owner’s spouse, child or parent, and they live in the house, the Residential Tenancies Act does not apply. You could be asked to leave without a Landlord and Tenant Board process. A self-contained unit with its own kitchen and bathroom is covered.
Is it cheaper to rent or buy in Markham?
Markham prices fell in 2026, with condos down the most. Here are the medians next to the closest rents.
| Home type | Median price, Jan to Oct 2026 | Change vs 2025 | Closest yearly rent |
|---|---|---|---|
| Condo apartment | $558,000 | -13.2% | $34,080 (2-bedroom condo) |
| Condo townhouse | $750,000 | -9.1% | $39,480 (3-bedroom townhouse) |
| Freehold townhouse | $999,990 | -10.9% | No public average |
| Detached | $1,420,000 | -6.5% | No public average |
Source: TRREB MLS data via REALM, January to October 2026 vs the same period of 2025 (median sold prices, Markham); TRREB Rental Market Report Q2 2026 (average rents x 12).
A median Markham condo costs about 16 years of two-bedroom rent, before interest, condo fees and property tax. My Markham and Richmond Hill housing market outlook and my rent or buy guide for 2027 work through the full costs.
In Markham, compare condos and units in houses separately, because their rents are moving in different directions. For a condo, use the TRREB average as your ceiling and ask for a small discount or parking. For a basement or main floor, confirm the house is registered as a two-unit home, get the utility split in writing, and check whether the 1.9% cap applies.
What to do next
- Work out your rent ceiling: yearly household income divided by 40.
- Compare TRREB’s condo averages and liv.rent’s asking rents for the size you need.
- For a basement, ask whether the house is registered with the City as a two-unit home.
- Ask when the unit was first occupied, so you know whether the 1.9% cap applies.
- Sign on the Ontario standard lease, with heat, hydro, water and parking spelled out.
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
What is the average rent in Markham in 2026?
A one-bedroom condo in Markham leased for an average of $2,214 a month and a two-bedroom for $2,840 in Q2 2026, according to TRREB’s latest rental report. liv.rent’s October 2026 unfurnished asking rents were $2,081 for a one-bedroom and $2,478 for a two-bedroom. Older purpose-built apartments averaged $1,885 for a one-bedroom in CMHC’s October 2025 survey.
How much is a one-bedroom for rent in Markham?
A one-bedroom in Markham rents for about $2,080 to $2,220 a month in late 2026. liv.rent’s October 2026 unfurnished asking average was $2,081, among the five highest city averages in Canada, and TRREB’s Q2 2026 average for 445 leased one-bedroom condos was $2,214. Older purpose-built rentals averaged less.
How much does it cost to rent a house in Markham?
No public report gives an average rent for a detached house in Markham as of November 2026. The closest figures are TRREB’s three-bedroom townhouse average of $3,290 a month in Q2 2026, from 45 leases, and liv.rent’s furnished three-bedroom asking rent of $2,940 in October 2026. For a detached home, ask a realtor for recent MLS leases nearby.
What is the average rent for a basement in Markham?
No published source reports an average basement rent for Markham as of November 2026. Rentals.ca and liv.rent include basement apartments in their data without separating them. A sensible ceiling for a one-bedroom basement is liv.rent’s October 2026 unfurnished one-bedroom asking average of $2,081, adjusted down for light, shared laundry and utility costs.
Do basement apartments in Markham need to be registered?
Yes, the City of Markham requires every two-unit house, including homes with a basement apartment, to be registered. Both units are inspected for building and fire safety. For an existing second suite, the fire inspection costs $260 and registration costs $246, under the City’s two-unit residential occupancy registration by-law, 2018-57.
Are rents going up in Markham?
It depends on the type of unit. Rentals.ca and Urbanation reported Markham apartment and condo asking rents down 5.4% year over year in October 2026. liv.rent, which also counts units in houses, found unfurnished one-bedrooms up 5.7%, to $2,081, the largest annual rise of the 20 Ontario areas it tracks.
How much income do I need to rent in Markham?
To keep rent under 30% of income, CMHC’s affordability line, you need a household income of about 40 times the monthly rent. For Markham’s Q2 2026 average one-bedroom condo rent of $2,214, that is about $88,560 a year. A $2,840 two-bedroom needs about $113,600. Landlords may use their own tests.
How much can my landlord raise rent in Markham in 2027?
Most Markham landlords can raise rent by no more than 1.9% in 2027, Ontario’s guideline. They must wait 12 months between increases and give 90 days’ written notice. Units first occupied for residential use after 15 November 2018, including newer condo towers and basements, are exempt and can rise by any amount once a year.
Is Markham more expensive to rent than Toronto?
No, Markham condos rent for less than Toronto condos on average. TRREB’s Q2 2026 report showed a Markham two-bedroom condo at $2,840 a month against $3,154 in the City of Toronto, and a one-bedroom at $2,214 against $2,316. In liv.rent’s October 2026 asking rents, though, Markham’s one-bedroom average of $2,081 was above Toronto’s $1,969.
Sources
- TRREB Rental Market Report, Q2 2026 (released 31 August 2026)
- liv.rent October 2026 Ontario Rent Report
- Rentals.ca and Urbanation National Rent Report, October 2026 (released 5 November 2026)
- CMHC Rental Market Survey data tables, Toronto CMA, October 2025
- City of Markham: Registration of basement apartments and second suites
- Ontario: Rent increase guideline
- Residential Tenancies Act, 2006 (Ontario e-Laws)
- CMHC: About affordable housing in Canada
Related reading
- Can My Landlord Enter Without Notice in Ontario?
- Can a Landlord Evict You Without Going to the LTB in Ontario?
- Can My Landlord Raise the Rent Every Year in Ontario? 2027 Rules
- Can a Landlord Put Security Cameras in or Outside a Rental in Ontario?
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.