Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Newmarket is much cheaper for houses: its detached median was $1,070,000 from January to October 2026, against $1,485,000 in Richmond Hill. Condos cost about the same. Richmond Hill has the lower 2026 tax rate (0.760% vs 0.919%), a bigger condo market and a shorter trip to Toronto; Newmarket has the Barrie GO line and Southlake hospital.
This guide is for buyers choosing between Richmond Hill and Newmarket in 2027, often families who like York Region but find Richmond Hill’s house prices out of reach, and Richmond Hill owners thinking of moving north. You will get 2026 prices for every home type, how fast homes sold, the tax gap in dollars, the GO and highway picture and a plain answer on who each place suits.
Richmond Hill vs Newmarket: how do they compare side by side?
Both are in York Region and both grew up along Yonge Street. Richmond Hill sits just north of Toronto, with Highway 7 and the 407 on its south edge. Newmarket is further north, just past Aurora. Richmond Hill is the bigger city, with 202,022 people in the 2021 census on about 101 square kilometres. Newmarket had 87,942 people on just 38.5 square kilometres, so it is a compact town.
| Measure (Jan–Oct 2026) | Richmond Hill | Newmarket |
|---|---|---|
| Detached median price | $1,485,000 (−8.9%) | $1,070,000 (−10.1%) |
| Detached sales | 838 | 483 |
| Semi-detached median | $1,051,000 (−7.7%) | $825,000 (−7.6%) |
| Freehold townhouse median | $1,040,000 (−9.4%) | $827,000 (−8.1%) |
| Condo townhouse median | $690,000 (−15.6%) | $680,000 (−6.2%) |
| Condo apartment median | $529,250 (−8.8%) | $490,000 (−12.8%) |
| Condo apartment sales | 344 | 51 |
| 2026 total residential tax rate | 0.760104% | 0.919045% |
| GO train | Four stations, Richmond Hill line (weekday rush hour) | Newmarket GO, Barrie line |
| Hospital | Mackenzie Richmond Hill Hospital | Southlake Regional Health Centre |
Source: TRREB MLS data via REALM, January–October 2026 vs the same period of 2025 (changes in brackets); City of Richmond Hill and Town of Newmarket 2026 tax rates; 2021 census.
A median is the middle sale: half sold for more and half for less. Richmond Hill’s figure mixes Mill Pond, Bayview Hill, Jefferson, Richvale and Oak Ridges. Newmarket’s covers the whole town, from the older streets around Main Street to newer subdivisions. Use them as a starting point, not a street price.
How much cheaper is Newmarket than Richmond Hill?
For houses, a lot. Newmarket’s detached median was $1,070,000 from January to October 2026, about $415,000 below Richmond Hill’s $1,485,000. Semis were $226,000 cheaper and freehold townhouses $213,000 cheaper.
For condos, the gap almost disappears. Condo townhouses were only $10,000 apart and condo apartments $39,250 apart. Newmarket’s condo market is small, with just 51 condo apartment sales in ten months against 344 in Richmond Hill.
Which held its value better since 2024?
| Home type | Richmond Hill 2024 → 2026 | Newmarket 2024 → 2026 |
|---|---|---|
| Detached | $1,774,400 → $1,485,000 (−16.3%) | $1,265,000 → $1,070,000 (−15.4%) |
| Semi-detached | $1,250,000 → $1,051,000 (−15.9%) | $910,000 → $825,000 (−9.3%) |
| Freehold townhouse | $1,250,000 → $1,040,000 (−16.8%) | $964,000 → $827,000 (−14.2%) |
| Condo townhouse | $895,000 → $690,000 (−22.9%) | $812,750 → $680,000 (−16.3%) |
| Condo apartment | $637,500 → $529,250 (−17.0%) | $606,000 → $490,000 (−19.1%) |
Source: TRREB MLS data via REALM, January–October of 2024 and 2026, median sold prices.
Both fell hard. Newmarket held up a bit better for freehold homes; Richmond Hill held up a bit better for condo apartments. TRREB’s October 2026 composite benchmark was $1,145,900 in Richmond Hill, down 7.32% in a year, and $960,700 in Newmarket, down 7.79%. Past changes are not a forecast.
How fast are homes selling in Richmond Hill and Newmarket?
Newmarket houses sell a little faster. Detached homes took 27 days on average to sell in Newmarket and 31 in Richmond Hill in 2026. Freehold townhouses took 27 days against 32. Condo apartments were the exception: 54 days in Newmarket against 42 in Richmond Hill, a sign of how thin Newmarket’s condo market is.
TRREB’s October 2026 Market Watch shows Richmond Hill with 5.5 months of inventory and Newmarket with 4.1. Months of inventory is how long it would take to sell every active listing at the recent pace, and a higher number gives buyers more room to negotiate. Detached homes sold for 97% of asking on average in both that month, at October medians of $1,469,000 in Richmond Hill and $1,030,000 in Newmarket.
Which has lower property taxes, Richmond Hill or Newmarket?
Richmond Hill. Both pay the same York Region rate (0.392412%) and the same education rate (0.153%), so the gap is the local share: 0.214692% for the City of Richmond Hill and 0.373633% for the Town of Newmarket. The 2026 totals are 0.760104% and 0.919045%.
For every $100,000 of MPAC assessed value, that is about $760 a year in Richmond Hill and $919 in Newmarket. On an $800,000 assessment, the bills are about $6,081 and $7,352. A cheaper home may also carry a lower assessment, so compare the sellers’ actual bills. My Richmond Hill property tax guide explains due dates and instalments.
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What does it cost to get into each market?
Newmarket needs much less cash. At the detached medians, the minimum down payment is $82,000 in Newmarket and $123,500 in Richmond Hill. Both medians sit under the $1.5 million cap for an insured mortgage, but only just in Richmond Hill. Neither place charges a municipal land transfer tax; only the City of Toronto does.
The bigger difference is the monthly payment. At the medians and minimum down payments, the Newmarket mortgage is about $373,000 smaller before mortgage insurance. That changes what you qualify for, especially with the Bank of Canada’s policy rate at 2.50% after the 28 October 2026 hike and prime at 4.70%.
Which is better for commuting, Richmond Hill or Newmarket?
Richmond Hill: closer, with rush-hour GO
Richmond Hill has four GO stations on the Richmond Hill line: Bloomington, Gormley, Richmond Hill and Langstaff. Trains run only on weekdays at peak times, south in the morning and north in the afternoon, and GO bus route 61 covers off-peak trips. Highway 404 runs along the east edge into the Don Valley Parkway.
The Yonge North Subway Extension will add about eight kilometres of Line 1 north from Finch, with five new stations serving Vaughan, Markham and Richmond Hill. Metrolinx says it will open after the Ontario Line is complete and gives no date, so I would not pay extra for it in 2027.
Newmarket: Barrie line, the 404 and a rapidway
Newmarket GO is on the Barrie line, one stop north of Aurora GO, with trains south to Union Station and north to Barrie. The Davis Drive Rapidway, finished in 2015, gives Viva Yellow buses their own lanes between Yonge Street and Southlake. Highway 404 has two Newmarket interchanges, at Davis Drive and at Mulock Drive.
Newmarket is the longer trip to downtown by any mode, so test your real commute. I have not quoted trip times because they change with each GO schedule.
Driving
From both places, Highway 404 is the main road south, and it gets slower the closer you get to the 401 at rush hour. Newmarket also connects to Highway 400 through Highway 9, which helps if you work in Vaughan or further west. The 407 is the fast east–west link across the top of Toronto, but it is a toll road, so price the tolls if you would use it every day.
What is it like to live in Richmond Hill vs Newmarket?
Richmond Hill
Richmond Hill grew around the historic village on Yonge Street and Mill Pond. Oak Ridges and Lake Wilcox are to the north on the Oak Ridges Moraine, and a large part of the city falls under Ontario’s Greenbelt rules. The David Dunlap Observatory is in Hillsview, and the city has light pollution rules because of it. Mackenzie Richmond Hill Hospital is in the city.
Newmarket
Newmarket has a historic Main Street that became a heritage conservation district in 2013, Fairy Lake in the centre of town and Upper Canada Mall at Yonge and Davis. Southlake Regional Health Centre is in town. For street-level detail, see the best neighbourhoods to live in Newmarket.
Both use the York Region District School Board and the York Catholic District School Board, so check the school for each address.
If you need a detached house and can live with a longer commute, Newmarket gives you about $415,000 of breathing room at the median, a real main street and a hospital in town. If you commute to Toronto every day, or want a condo with more buyers when you sell, Richmond Hill is worth the higher price and has the lower tax rate. For a condo townhouse, the prices are nearly the same, so choose by commute. I also compare Newmarket with its neighbour in Newmarket vs Aurora.
Newmarket’s condo apartment market is very small, with 51 sales from January to October 2026 and an average of 54 days to sell. If you buy one, expect resale to take time. In Richmond Hill, do not pay a premium for homes near Yonge because of the future subway; it has no opening date.
Who should pick which?
Pick Richmond Hill if you
- Commute to Toronto most days by the 404 or rush-hour GO.
- Want the lower tax rate and a bigger condo market.
- Can afford a detached median close to $1.5 million.
Pick Newmarket if you
- Want a detached house for about $415,000 less at the median.
- Work in north York Region, at Southlake or along the 404 north.
- Want a walkable main street and a smaller-town pace.
What to do next
- Price the full monthly cost in each place: mortgage, property tax and commuting. The next Bank of Canada decision is 9 December 2026.
- Ride or drive your real commute from both at rush hour.
- Read my north York Region housing market outlook for 2027 before you set a budget.
- If you own in Richmond Hill, find out what your Richmond Hill house is worth before you plan the move.
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 Newmarket cheaper than Richmond Hill?
Yes, much cheaper for houses. From January to October 2026, Newmarket’s detached median was $1,070,000 and Richmond Hill’s was $1,485,000, a gap of about $415,000, based on TRREB MLS data via REALM. Condos were close: condo townhouses were $10,000 apart and condo apartments $39,250 apart. Newmarket’s tax rate is higher, though.
Is Richmond Hill better than Newmarket?
Neither is better for everyone in 2027. Richmond Hill is closer to Toronto, has a lower 2026 tax rate and a bigger condo market. Newmarket has detached homes about $415,000 cheaper at the 2026 median, a historic main street and Southlake hospital. Pick by commute, budget and the type of home you need.
Are property taxes higher in Newmarket or Richmond Hill?
Newmarket’s rate is higher. Its 2026 total residential rate is 0.919045%, against 0.760104% in Richmond Hill. Both pay the same York Region and education rates, so the gap is the local share. On each $100,000 of assessed value, that is about $919 a year in Newmarket and $760 in Richmond Hill.
Does Newmarket have a GO train?
Yes. Newmarket GO is on the Barrie line, one stop north of Aurora GO, with trains south to Union Station and north to Barrie. Newmarket also has Viva Yellow buses on the Davis Drive Rapidway, finished in 2015. Check the current GO timetable for your trip, since service levels change with each schedule.
Does Richmond Hill have GO train service all day?
No. As of 2026, Richmond Hill line trains run only on weekdays at peak times: south in the morning and north in the afternoon. GO bus route 61 covers off-peak trips. The city’s four stations are Bloomington, Gormley, Richmond Hill and Langstaff. The planned Yonge North Subway Extension has no opening date.
Are homes selling fast in Newmarket and Richmond Hill?
Newmarket houses sell slightly faster. Detached homes took 27 days on average in Newmarket and 31 in Richmond Hill from January to October 2026. In October 2026, Newmarket had 4.1 months of inventory and Richmond Hill 5.5, per TRREB Market Watch, and detached homes in both sold for about 97% of asking.
How much down payment do I need in Newmarket vs Richmond Hill?
At the 2026 detached medians, you need at least $82,000 down in Newmarket and $123,500 in Richmond Hill. Those are the minimums on $1,070,000 and $1,485,000. Both are under the $1.5 million cap for an insured mortgage. Neither place charges a municipal land transfer tax; only the City of Toronto does.
Is it a good idea to buy a condo in Newmarket?
Only if you plan to hold it for a while. Newmarket had just 51 condo apartment sales from January to October 2026, at a $490,000 median, and they took 54 days on average to sell. Richmond Hill had 344 sales at $529,250 and 42 days. A small market can make resale slower.
Does Newmarket have a hospital?
Yes. Southlake Regional Health Centre is in Newmarket. Viva Yellow buses on the Davis Drive Rapidway run between Yonge Street and Southlake. Richmond Hill has its own hospital too, Mackenzie Richmond Hill Hospital, so neither place leaves you far from emergency care.
Sources
- TRREB Market Watch, October 2026
- City of Richmond Hill: Tax rates (2026)
- Town of Newmarket: 2026 property tax rates
- Metrolinx: Yonge North Subway Extension
- Richmond Hill line (Wikipedia, service pattern)
- Barrie line (Wikipedia, station order)
- Newmarket, Ontario (Wikipedia, background: census, rapidway, hospital)
- Richmond Hill, Ontario (Wikipedia, background: census, moraine, hospital)
Related reading
- Mississauga vs Oakville in 2027: Prices, Commute and Which Fits You
- Brampton vs Mississauga in 2027: Prices, Commute and Which Fits You
- Markham vs Richmond Hill in 2027: Prices, Commute and Which Fits You
- Vaughan vs Markham 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.