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Markham's 37,000 Tech Workers — The Income Profile That Sustains Housing Demand
Behind Markham's real estate market is an economic engine that doesn't get talked about enough: tens of thousands of well-paid technology and life sciences workers. Understanding this workforce is key to understanding why Markham's housing demand is so durable.
How do Markham's tech workers support housing demand? Markham is home to more than 1,000 technology and life sciences companies employing roughly 37,000 people — over one-fifth of the city's total workforce. This concentration of stable, well-paying employment creates a deep, resilient base of housing demand: a large pool of financially capable buyers and renters whose presence helps sustain the market through economic cycles.
Behind Markham's real estate market is an economic engine that doesn't get talked about enough: tens of thousands of well-paid technology and life sciences workers. Understanding this workforce is key to understanding why Markham's housing demand is so durable. Michael John Lau, a top real estate agent in Markham and a CPA/CMA, breaks down the numbers.
The key figure: According to the City of Markham, more than 1,000 technology and life sciences companies employ 37,000 people in Markham — more than one-fifth of the city's total workforce of 167,500. This is the foundation of Markham's identity as "Canada's High-Tech Capital." Figures per the City of Markham; confirm current data with the City.
Why This Workforce Matters for Housing
A large, well-paid, stable workforce is one of the most fundamental drivers of a healthy, resilient housing market. Here's how Markham's tech and life sciences employment translates into durable housing demand:
A deep pool of capable buyers
Technology and life sciences roles are typically well-compensated. Tens of thousands of such workers means a large, ongoing pool of financially capable potential buyers and renters — people with the incomes to support home purchases and quality rentals. That depth of demand is a genuine market strength.
Local, "live where you work" demand
Many of these workers want to live near their jobs. A concentration of major employers in Markham creates built-in, local demand from people who specifically want to live in the city — supporting both the ownership and rental markets close to employment centres like Downtown Markham and the Highway 7 corridor.
Resilience through economic cycles
Technology and life sciences are significant, growing sectors of the modern economy. A local economy anchored by these industries — rather than a single vulnerable sector — tends to be more resilient, helping housing demand hold up better through economic ups and downs. Diversified, high-value employment is a stabilizing force.
Attracting continued talent
Markham's tech ecosystem — over 1,500 tech companies, major head offices (IBM, AMD, Lenovo, and more), accelerators like ventureLAB, and now York University's Markham Campus — continues to attract skilled workers to the city. Each new wave of talent adds to the housing demand base.
The Income Profile Behind the Demand
What makes this workforce particularly significant for real estate is the income profile. Technology and life sciences employment generally offers above-average compensation, which matters for a premium market like Markham (average home price around $1,131,000 as of TRREB, July 2026). A large base of higher-income households is part of what supports Markham's elevated price levels — these are buyers with the financial capacity to participate in the market. It's a key reason Markham's values have the underpinning they do.
A Self-Reinforcing Cycle
There's a virtuous cycle at work: Markham's strong tech and life sciences sector attracts talent and investment, which supports housing demand and the local economy, which makes the city more attractive to further employers and workers, and so on. Developments like York University's Markham Campus, the Indy economic partnerships, and ongoing growth in Downtown Markham all reinforce this cycle — strengthening the employment base that underpins housing demand over the long term.
What It Means for Buyers, Sellers, and Investors
For buyers
Markham's deep employment base is a sign of a fundamentally healthy, desirable market — a place where sustained demand supports long-term value. You're buying into a city with real economic strength behind it.
For sellers
The large pool of financially capable local buyers is part of what supports demand for well-priced, well-presented Markham homes.
For investors
A substantial workforce of well-paid professionals supports rental demand, particularly near employment centres — a fundamental worth understanding for investment decisions.
The Bottom Line
Markham's 37,000 technology and life sciences workers — more than a fifth of the city's workforce — are a foundational, often-overlooked pillar of its real estate market. This concentration of stable, well-paid employment creates a deep and resilient base of housing demand that helps sustain the market through every cycle. It's one of the most important reasons Markham's housing fundamentals are as strong as they are.
Michael John Lau, one of Markham's leading REALTORS® and a CPA/CMA, brings a genuinely analytical lens to the fundamentals behind Markham real estate — including the employment base that underpins housing demand. If you want to understand not just prices but the forces behind them, that's exactly the conversation worth having. Let's talk.
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Understand the Forces Behind the Market
Michael John Lau, REALTOR® CPA, CMA, brings an analytical lens to the fundamentals behind Markham real estate. Want to understand prices and the forces behind them? Let's talk.
Michael John Lau is a licensed REALTOR® and CPA/CMA at Kaizen Real Estate (eXp Realty), Licence #4784577, serving Markham and York Region. Employment and workforce figures are per the City of Markham and subject to change; confirm current data with the City. Market figures cite TRREB, July 2026. This is general information, not investment or financial advice. Not intended to solicit clients currently under contract with another brokerage.
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