Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Richmond Hill is cheaper for detached homes: its median was $1,485,000 from January to October 2026, against $1,625,000 in Oakville, which also means Oakville buyers usually need 20% down. Condos cost the same, about $528,000. Oakville has all-day Lakeshore West GO trains and held its value better; Richmond Hill has a lower tax rate.
This guide is for buyers choosing between Oakville and Richmond Hill in 2027, often move-up families with a big budget who could live on either side of Toronto. You will get 2026 prices for every home type, how the two markets have moved since 2024, the tax gap in dollars, the GO and subway facts and a plain answer on who each place suits.
Oakville vs Richmond Hill: how do they compare side by side?
Oakville is a town in Halton Region on Lake Ontario, west of Mississauga. Richmond Hill is a city in York Region, north of Toronto along Yonge Street. They are about the same size: Oakville had 213,759 people in the 2021 census and Richmond Hill had 202,022. Oakville covers more land, about 139 square kilometres against 101, so it feels less dense.
| Measure (Jan–Oct 2026) | Oakville | Richmond Hill |
|---|---|---|
| Detached median price | $1,625,000 (−3.0%) | $1,485,000 (−8.9%) |
| Detached sales | 1,162 | 838 |
| Semi-detached median | $985,000 (−13.2%) | $1,051,000 (−7.7%) |
| Freehold townhouse median | $1,005,000 (−7.8%) | $1,040,000 (−9.4%) |
| Condo townhouse median | $712,500 (−4.3%) | $690,000 (−15.6%) |
| Condo apartment median | $528,000 (−6.0%) | $529,250 (−8.8%) |
| Detached, average days on market | 33 | 31 |
| 2026 total residential tax rate | 0.850960% | 0.760104% |
| GO train | Oakville and Bronte, Lakeshore West (all day) | Four stations, Richmond Hill line (weekday rush hour) |
Source: TRREB MLS data via REALM, January–October 2026 vs the same period of 2025 (changes in brackets); Town of Oakville and City of Richmond Hill 2026 tax rates; 2021 census.
A median is the middle sale: half sold for more and half for less. Oakville’s figure mixes Old Oakville and the lakefront with Glen Abbey, River Oaks, West Oak Trails and newer areas north of Dundas. Richmond Hill’s mixes Mill Pond, Bayview Hill and Jefferson with Oak Ridges and Lake Wilcox. Use them as a starting point, not a street price.
Is Oakville more expensive than Richmond Hill?
For detached houses, yes. Oakville’s detached median was $1,625,000 from January to October 2026, about $140,000 above Richmond Hill’s $1,485,000. For almost everything else, the two are close. Semis were $66,000 cheaper in Oakville and freehold townhouses $35,000 cheaper. Condo townhouses were $22,500 cheaper in Richmond Hill. Condo apartments were a dead heat at about $528,000 to $529,000.
How the gap flipped since 2024
Two years ago, Richmond Hill was the pricier place for a detached house.
| Home type | Oakville 2024 → 2026 | Richmond Hill 2024 → 2026 |
|---|---|---|
| Detached | $1,763,000 → $1,625,000 (−7.8%) | $1,774,400 → $1,485,000 (−16.3%) |
| Freehold townhouse | $1,150,000 → $1,005,000 (−12.6%) | $1,250,000 → $1,040,000 (−16.8%) |
| Condo townhouse | $750,000 → $712,500 (−5.0%) | $895,000 → $690,000 (−22.9%) |
| Condo apartment | $620,000 → $528,000 (−14.8%) | $637,500 → $529,250 (−17.0%) |
Source: TRREB MLS data via REALM, January–October of 2024 and 2026, median sold prices.
Oakville’s detached median lost 7.8% in two years. Richmond Hill’s lost 16.3%. TRREB’s October 2026 benchmark price tells the same story: Oakville’s detached benchmark was $1,624,600, up 0.56% from a year earlier, while Richmond Hill’s was $1,495,200, down 7.89%. Oakville has held its value better; Richmond Hill buyers are getting the bigger discount from the peak. Past changes are not a forecast.
Why does the $1.5 million line matter here?
Because Oakville’s detached median sits above it and Richmond Hill’s sits just below it. In Canada, a home priced at $1.5 million or more cannot have an insured mortgage, so you need at least 20% down. At Oakville’s $1,625,000 median, that is $325,000. At Richmond Hill’s $1,485,000 median, an insured mortgage is still possible, and the minimum down payment is $123,500.
That gap of about $200,000 in cash is often what decides this comparison for my clients. If you have the 20%, it does not matter. If you do not, Richmond Hill detached homes, or Oakville semis and townhouses, are within reach sooner.
How fast are homes selling in Oakville and Richmond Hill?
At a similar pace, with buyers holding the upper hand in both. Detached homes took 33 days on average to sell in Oakville and 31 in Richmond Hill in 2026, up from 24 and 25 days in 2024. Condo apartments were slower in Oakville, at 45 days against 42.
TRREB’s October 2026 Market Watch shows a difference in how much buyers negotiate. Across all home types, Oakville homes sold for 95% of the asking price on average, against 98% in Richmond Hill. Oakville had 4.9 months of inventory and Richmond Hill 5.5. Months of inventory is how long it would take to sell every active listing at the recent pace, and higher numbers favour buyers.
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Which has lower property taxes, Oakville or Richmond Hill?
Richmond Hill. Its 2026 total residential rate is 0.760104%: 0.214692% for the City, 0.392412% for York Region and 0.153% for education. Oakville’s is 0.850960%: 0.364585% for the Town, 0.333375% for Halton Region and 0.153% for education.
On a home assessed at $800,000 by MPAC, that is about $6,808 a year in Oakville and $6,081 in Richmond Hill, a gap of roughly $730. Your bill depends on the assessment, so ask for the seller’s latest bill. Neither place charges a municipal land transfer tax. My guides to Oakville property tax and Richmond Hill property tax explain due dates and instalments.
Which is better for commuting, Oakville or Richmond Hill?
Oakville, if you take the train. Richmond Hill, if you drive to the north or east side of Toronto.
Oakville: all-day Lakeshore West trains
Oakville has two GO stations, Oakville and Bronte, on the Lakeshore West line, the busiest line in the GO system. Trains run all day in both directions. Since April 28, 2024, there has been 15-minute weekend service between Oakville GO and Union Station. The QEW and Highway 403 run through the town, and the 407 crosses the north.
Richmond Hill: rush-hour GO, subway later
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. Off-peak trips use GO bus route 61. Highway 404 runs along the city’s east edge into the Don Valley Parkway, and Highway 7 and the 407 mark the south.
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. I would not pay extra in 2027 for a home because of it.
What is it like to live in Oakville vs Richmond Hill?
Oakville
Oakville is a lakeside town. Old Oakville, Kerr Village and Bronte sit on or near Lake Ontario, with Glen Abbey, River Oaks, Iroquois Ridge and the Uptown Core further north, and newer subdivisions around Palermo and north of Dundas. Sheridan College’s Trafalgar Campus is here. Schools are run by the Halton District School Board and the Halton Catholic District School Board. See the best neighbourhoods to live in Oakville for area-by-area detail.
Richmond Hill
Richmond Hill grew along Yonge Street. The historic village and Mill Pond are in the middle, with Oak Ridges and Lake Wilcox to the north. The Oak Ridges Moraine covers roughly the northern third of the city, and a significant part of Richmond Hill 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. Schools are run by the York Region District School Board and the York Catholic District School Board.
If your work is downtown or west of Toronto and you want the lake, Oakville is worth the premium, and its prices have held up better. If you work in North York, Markham or along the 404, or you want a detached house without needing 20% down, Richmond Hill gives you more for the money in 2027 and a lower tax bill. For a condo, the prices are the same, so choose the building and the commute, not the city.
Do not buy in Richmond Hill because of the future subway, and do not buy in Oakville assuming prices only go up. Oakville homes sold for 95% of asking on average in October 2026, so overpriced listings sit. In both places, ask for recent sales on the same street and check how long similar homes took to sell.
Who should pick which?
Pick Oakville if you
- Ride the GO train and want all-day service, plus 15-minute weekend trains from Oakville GO.
- Want the lake and a town that held its detached prices better since 2024.
- Work in Mississauga, Burlington or Hamilton.
Pick Richmond Hill if you
- Want a detached house under $1.5 million so you can use an insured mortgage.
- Drive the 404 to North York, Markham or downtown east of Yonge.
- Want a lower 2026 tax rate and a hospital in the city.
What to do next
- Work out your cash: 20% down at $1.5 million and above, or the smaller insured minimum below it. The Bank of Canada raised its policy rate to 2.50% on 28 October 2026, and prime is 4.70%.
- Do your real commute from both places at rush hour, by GO and by car.
- Compare the regional outlooks in my Halton housing market 2027 and Markham and Richmond Hill housing market 2027 posts.
- Confirm the school for each address with the local board before you make an offer.
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 Oakville better than Richmond Hill?
Neither is better for everyone in 2027. Oakville has the lake, all-day Lakeshore West GO trains and prices that held up better, with a detached median of $1,625,000 from January to October 2026. Richmond Hill’s detached median was $1,485,000, its tax rate is lower and it suits drivers on Highway 404. Choose by commute, cash and home type.
Is Richmond Hill cheaper than Oakville?
Yes for detached homes, not for much else. From January to October 2026, Richmond Hill’s detached median was $1,485,000, about $140,000 below Oakville’s $1,625,000, based on TRREB MLS data via REALM. Condo apartments cost the same in both, about $528,000. Semis and freehold townhouses were slightly cheaper in Oakville.
Are property taxes higher in Oakville or Richmond Hill?
Oakville has the higher 2026 rate. Its total residential rate is 0.850960%, against 0.760104% in Richmond Hill. On a home assessed at $800,000, that is about $6,081 a year in Richmond Hill and $6,808 in Oakville, a gap of roughly $730. Ask the seller for the actual tax bill, because assessments vary.
How much down payment do I need for a detached house in Oakville?
At Oakville’s 2026 detached median of $1,625,000, you need at least $325,000, or 20%. Homes priced at $1.5 million or more cannot have an insured mortgage in Canada. At Richmond Hill’s detached median of $1,485,000, an insured mortgage is possible, with a minimum down payment of $123,500, based on January to October 2026 medians.
Did Richmond Hill house prices fall more than Oakville?
Yes. Richmond Hill’s detached median fell 16.3% between January to October 2024 and the same period of 2026, from $1,774,400 to $1,485,000. Oakville’s fell 7.8%, from $1,763,000 to $1,625,000. In October 2026, Oakville’s detached benchmark was up 0.56% year over year and Richmond Hill’s was down 7.89%, per TRREB.
Does Richmond Hill have a subway?
No, not as of November 2026. 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. Today Richmond Hill relies on rush-hour GO trains and buses.
Does Oakville have all-day GO train service?
Yes. Oakville GO and Bronte GO are on the Lakeshore West line, which has all-day, two-way service to Union Station. Since April 28, 2024, trains have run every 15 minutes on weekends between Oakville GO and Union. Richmond Hill’s four GO stations have weekday rush-hour trains only, with GO buses at other times.
Are homes selling fast in Oakville and Richmond Hill?
Not fast. Detached homes took 33 days on average to sell in Oakville and 31 in Richmond Hill from January to October 2026. In October 2026, Oakville homes sold for 95% of asking with 4.9 months of inventory, and Richmond Hill homes for 98% with 5.5 months, per TRREB Market Watch. Both favour buyers.
Is a condo cheaper in Oakville or Richmond Hill?
They cost the same. The condo apartment median was $528,000 in Oakville and $529,250 in Richmond Hill from January to October 2026, per TRREB MLS data via REALM. Oakville condos took 45 days on average to sell, against 42 in Richmond Hill. Pick the building, the fees and the commute rather than the city.
Sources
- TRREB Market Watch, October 2026
- Town of Oakville: 2026 final tax rates summary
- City of Richmond Hill: Tax rates (2026)
- Metrolinx: Yonge North Subway Extension
- Lakeshore West line (Wikipedia, stations and weekend service)
- Richmond Hill line (Wikipedia, service pattern)
- Oakville, Ontario (Wikipedia, background: census, neighbourhoods)
- 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.