Blog > Private School vs. a Top Markham Public School Area: Running the Real Estate Math
Private School vs. a Top Markham Public School Area: Running the Real Estate Math
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Is it cheaper to pay private school tuition or buy in a top Markham school area?
For many families, paying more for a home in a strong public school area costs less over time than private tuition, but it is not a sure thing. Ontario private day schools charged roughly $21,000 to $49,530 a year for 2026-27, so two children over 12 years could cost about $500,000 to $1.2 million in after-tax dollars. A home premium in a popular school area is different: you pay interest on it, but you may get much of it back when you sell, and a principal residence gain is generally tax-free. The catch: boundaries change, the premium is not promised to last, and an address does not secure a seat in a specialized program.
What Private School Costs
| Ontario private day schools, 2026-27 | Annual tuition |
|---|---|
| Faith-based and value-focused | About $21,000 to $22,500 |
| Mid-market independent | About $25,000 to $40,000 |
| Highest-priced Toronto-area schools | About $43,000 to $49,530 |
Source: SchoolBase Canada, compiled from schools’ published 2026-27 fees. Many schools also charge one-time enrolment fees and annual extras such as technology, lunch and activity fees. In Markham, Town Centre Private Schools publishes 2026-27 elementary and secondary tuition of about $1,695 to $2,210 per month, depending on grade.
Michael John Lau, a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region, helps families compare sales just inside and just outside popular school boundaries, so the real premium is a number rather than a guess.
Twelve Years, Two Children: The Tuition Total
| Annual tuition per child | 2 children, 12 years each (before increases) |
|---|---|
| $22,000 | $528,000 |
| $30,000 | $720,000 |
| $40,000 | $960,000 |
| $49,530 | $1,188,720 |
Tuition is usually paid from after-tax income, and fees tend to rise over time. That money does not come back.
What a School-Area Premium Costs
A home in a popular school area may cost more than a similar home nearby. There is no published Markham figure for that premium, so here is an example using a $150,000 difference, for illustration only:
| Item | Example |
|---|---|
| Extra price paid for the school area | $150,000 |
| Extra land transfer tax (2% bracket) | About $3,000 |
| Interest on the extra amount at 4% a year | About $6,000 a year, falling as you pay it down |
| Extra property tax | Depends on assessed value |
| Recovered on sale | Possibly much of it, if demand holds, but not promised |
Over 12 years, interest on that example premium would total about $60,000 on a 25-year amortization, compared with hundreds of thousands in tuition. If the home is your principal residence for every year you own it, any gain on sale is generally exempt from capital gains tax. Speak to an accountant about your situation.
Weighing school options in your home search? Call Michael John Lau, REALTOR®, at (416) 700-0286 to compare prices inside and outside the school areas on your list.
The Risks on the Real Estate Side
- Boundaries change. The York Region District School Board says attendance areas can change with enrolment, new schools and program changes.
- Program seats are not tied to address. Specialized programs, such as arts or International Baccalaureate, often have their own application rules.
- The premium can shrink. UBC research on Vancouver sales found school quality affected prices mainly at the top of the market, with no measurable effect on the least expensive 75% of homes.
- Market timing. If you sell in a slow market, you may not recover the full premium.
For more on how schools and prices interact, see whether Markham school rankings affect home prices.
It Is Not Only About Money
Families choose private schools for class sizes, specific programs, values, language instruction or continuity from kindergarten to Grade 12. Families choose public schools for neighbourhood friendships, walkability and strong results, such as Pierre Elliott Trudeau High School’s sixth-place ranking among 747 Ontario secondary schools in the Fraser Institute’s November 2025 report. The right answer depends on your child, not only the spreadsheet.
Some families do both: buy in a strong public school area for the elementary years and decide on high school later. That keeps options open without committing to 12 years of tuition.
The Monthly View
Monthly cash flow often decides this question in practice. Tuition for two children at $30,000 each is $5,000 a month for ten months a year, paid from take-home pay. A $150,000 premium on a mortgage at 4% over 25 years adds roughly $790 a month to the payment, and part of each payment goes toward principal, which you keep as equity. For many households, that difference is what makes a larger or better-located home possible without stretching the budget.
How to Run Your Own Numbers
- Price the schools you would actually choose, including fees and extras.
- Compare sales just inside and outside the boundary to find the real premium.
- Calculate the carrying cost of that premium at your mortgage rate.
- Estimate what you could recover on sale, conservatively.
- Confirm boundaries for each address with the school board.
Ultimately, the decision is yours. The goal is to make sure you have all the information.
Next Steps
- Explore Markham neighbourhoods: compare areas by schools, parks and commute.
- Buying a home in Markham: how Michael helps families shortlist homes.
- Use the mortgage calculator: test the cost of a school-area premium.
Frequently Asked Questions
How much does private school cost in Ontario?
For 2026-27, Ontario private day schools charged roughly $21,000 to $49,530 a year, according to SchoolBase Canada, plus enrolment fees and extras. Some Markham schools publish monthly fees instead.
Is buying in a top school area cheaper than private school?
Often, yes. Two children in private school for 12 years can cost $500,000 to over $1 million. A home premium costs interest while you own it, but you may recover much of it when you sell.
Can I get my school-area premium back when I sell?
Possibly, if demand for the area holds, but it is not promised. Boundaries can change, and a slow market at the time of sale can reduce what you recover.
Is the gain on my home tax-free when I sell?
If the home was your principal residence for every year you owned it, the gain is generally exempt from capital gains tax. You must still report the sale. Speak to an accountant.
Does living near a school mean my child gets a spot?
No. School boards set attendance areas, which can change, and specialized programs often have their own admission rules.
Which Markham public high schools rank highest?
In the Fraser Institute’s November 2025 report, Pierre Elliott Trudeau High School ranked sixth of 747 Ontario secondary schools. Catholic St. Augustine Catholic High School tied for first.
Work With Michael John Lau in Markham
Michael John Lau helps Markham families weigh school choices alongside price, space and commute. That includes confirming boundaries for each address, comparing sales inside and outside popular school areas, and helping families make a decision that fits both their children and their finances. The goal is a home that works for every school year ahead.
📞 Contact Michael John Lau, REALTOR®
🌐 www.callmikelau.com
Choosing between a school area and private school?
Michael John Lau helps families compare the real price difference between school areas before they buy.
Michael John Lau, REALTOR® · Markham, Ontario · (416) 700-0286
Disclaimer. Michael John Lau is a licensed REALTOR® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Tuition figures are from SchoolBase Canada’s 2026-27 guide (updated 28 July 2026) and Town Centre Private Schools’ published 2026-27 fees. The home premium example is for illustration only. School rankings are from the Fraser Institute’s November 2025 report as reported by CP24, and research findings are from UBC’s Sauder School of Business. This article is general information, not financial or tax advice.