Michael John Lau · REALTOR® · City Comparison · York Region · Updated October 2026
Markham vs Richmond Hill
The short answer: Markham and Richmond Hill are priced almost identically right now: in August 2026 the average sale was $1,208,692 in Markham and $1,205,777 in Richmond Hill. The differences are in speed, cost of ownership and lifestyle. Markham's market moved faster (4.1 months of inventory against 5.6), its 2026 property tax rate is the lower of the two (0.722889% against 0.760104%), and its condos cost more while its detached homes cost a little less. Richmond Hill is built along the Yonge Street corridor, with Viva Blue, the future Yonge North Subway Extension, Lake Wilcox and the Oak Ridges Moraine. Choose by commute direction, home type and the kind of neighbourhood you want, then by street.
About 338,500 residents (2021 Census) across 211 km², from heritage Unionville and Markham Village to Downtown Markham, Cornell and Rouge National Urban Park, with a strong technology employment base.
About 202,000 residents (2021 Census) across 101 km², built along Yonge Street from Langstaff to Oak Ridges, with Lake Wilcox and the Oak Ridges Moraine in the north.
At a Glance
Markham and Richmond Hill, Side by Side
Figures are from TRREB's August 2026 Market Watch, released September 3, 2026, the most recent month available, and each city's 2026 tax rate by-law.
| Factor | Markham | Richmond Hill | Edge |
|---|---|---|---|
| Average price, Aug 2026Even | $1,208,692 (282 sales) | $1,205,777 (161 sales) | Even |
| Median price, Aug 2026Even | $1,095,000 | $1,068,888 | Even |
| Average price, Jan to Aug 2026Markham | $1,149,110 (2,048 sales) | $1,214,329 (1,352 sales) | Markham |
| Months of inventory | 4.1 | 5.6 | |
| Days on market (listing) | 33 days | 37 days | |
| Sale-to-list price | 98% | 97% | |
| 2026 property tax rateMarkham | 0.722889% | 0.760104% | Markham |
| GO trainMarkham | Stouffville line, 4 stations, all-day service to Mount Joy | Richmond Hill line, 4 stations, weekday peak only | Markham |
| Rapid transitRichmond Hill | Viva Purple on Highway 7 | Viva Blue rapidway on Yonge; future subway stations | Richmond Hill |
| HospitalEven | Markham Stouffville Hospital | Mackenzie Richmond Hill Hospital | Even |
| Detached share of homesEven | 56.2% (2021 Census) | 56.7% (2021 Census) | Even |
Sources: TRREB Market Watch, August 2026 and year to date; City of Markham and City of Richmond Hill 2026 tax rates; Statistics Canada 2021 Census. For buyers, more inventory and longer days on market mean more room to negotiate; for sellers, the reverse. The "Edge" column is Michael John Lau's read for most households.
Prices
What a Home Costs in Each
Prices by home type for August 2026, from TRREB data as reported by WOWA, with the number of sales in brackets.
| Home type | Markham | Richmond Hill | Note |
|---|---|---|---|
| Detached | $1,611,773 (137) | $1,667,913 (74) | Richmond Hill about $56,000 higher |
| Semi-detached | $958,133 (15) | $1,040,000 (6) | Small samples |
| Freehold townhouse | $1,031,119 (39) | $1,030,927 (38) | Even |
| Condo townhouse | $812,567 (28) | $716,839 (9) | Markham higher |
| Condo apartment | $638,332 (57) | $538,509 (33) | Markham about $100,000 higher |
| Benchmark (MLS HPI composite) | $1,055,300 | $1,160,000 | Typical home, adjusted for mix |
Sources: TRREB Market Watch, August 2026; WOWA city market pages using TRREB data. Single-month figures move with the mix of homes sold.
The headline averages are nearly identical, but the mix underneath is not. Richmond Hill's detached homes averaged about $56,000 more in August 2026, while Markham's condo apartments averaged about $100,000 more. Markham's condo stock includes a lot of newer, larger suites in Downtown Markham and Unionville; Richmond Hill's includes many older buildings along Yonge Street.
The benchmark price, which adjusts for the mix of homes sold, was $1,160,000 in Richmond Hill and $1,055,300 in Markham. Read together, a comparable home has tended to cost a little more in Richmond Hill, and Markham has been the slightly faster market.
Ownership costs tilt toward Markham. At 2026 rates, every $1,000,000 of assessed value costs about $7,229 a year in property tax in Markham and about $7,601 in Richmond Hill. Neither city charges a municipal land transfer tax; buyers in both pay only Ontario's provincial tax.
In August 2026, Markham had 4.1 months of inventory and Richmond Hill had 5.6. Homes in Markham also sold a few days faster and closer to list price. For a seller, that is a stronger position in Markham. For a buyer, Richmond Hill currently offers more choice and more room to negotiate.
Michael John Lau works both sides of this border. His sellers at 57 Melbourne Drive in Rouge Woods and 65 Firwood Drive in Westbrook sold in 29 and 12 days, while Markham sellers at 59 Smoothwater Terrace sold $150,000 over asking. The city average matters less than the street, the price, and the plan.
The Deeper Comparison
How Daily Life Differs
Price is close. These are the differences that change daily life.
Transit and commute
The Stouffville GO line has four Markham stations (Unionville, Centennial, Markham and Mount Joy), with all-day service between Mount Joy and Union. Viva Purple runs along Highway 7, and Highways 404 and 407 cross the city.
The Richmond Hill GO line has four stations in the city (Langstaff, Richmond Hill, Gormley and Bloomington), with weekday rush-hour trains only. Viva Blue runs on a dedicated rapidway along Yonge Street, and the Yonge North Subway Extension will add stations including Bridge and High Tech. Metrolinx has not set an opening date beyond "after the Ontario Line."
Today, Markham has the stronger rail service. Over the next decade, the subway is Richmond Hill's big advantage, along with Markham's Thornhill neighbourhoods near Yonge.
Neighbourhood character
A city of distinct villages and planned communities: heritage Unionville and Markham Village, golf-course Angus Glen, estate Cachet, walkable Cornell, and Downtown Markham's condos. Rouge National Urban Park runs along the east side.
A city organised around Yonge Street, with established luxury pockets such as Bayview Hill, Mill Pond and South Richvale, newer communities like Jefferson, and the lakes and trails of the Oak Ridges Moraine in the north.
Markham offers more variety of neighbourhood types. Richmond Hill offers more natural landscape in the north and a clear Yonge Street spine.
Work and amenities
A large technology employment base along the 404 and 407 corridor, York University's Markham Campus (opened 2024), CF Markville, Pacific Mall, Main Street Unionville and the Markham Pan Am Centre.
Hillcrest Mall, the Richmond Hill Centre for the Performing Arts, Lake Wilcox, David Dunlap Observatory Park, and quick access to the 404 and 407 business corridor on the city's south and east edges.
Both are strong. Markham has more local employers; Richmond Hill has more lake and moraine recreation.
Schools and programs (names only)
Unionville High School's audition-based arts program, the IB Diploma program at Milliken Mills High School, and St. Robert Catholic High School's IB program in Thornhill on the Markham side.
IB Diploma programs at Bayview Secondary and Alexander Mackenzie High School, plus Alexander Mackenzie's specialized arts program.
Both cities offer IB and specialized arts programs. Most have their own application process, so check entry rules early.
Cost of ownership
2026 residential tax rate of 0.722889%, the lowest of Markham, Richmond Hill and Vaughan. The City's 2026 budget raised its own portion by 3.9%.
2026 residential tax rate of 0.760104%. The City portion rose from 0.208147% in 2025 to 0.214692% in 2026.
On the same assessed value, Markham costs about $370 a year less per $1 million of assessment.
Which One Fits You?
Choose Markham or Richmond Hill
There is no better community, only a better fit. These are the patterns Michael sees most often when families decide between the two.
Choose Markham if
Faster market, lower tax, more variety
- You want all-day GO service from Mount Joy, Markham or Unionville
- You like the choice of heritage, golf, estate and planned communities
- You work in the 404 and 407 technology corridor
- Rouge National Urban Park is on your weekend list
- You want the lower 2026 property tax rate
Choose Richmond Hill if
The Yonge corridor and the moraine
- You commute along Yonge or want to be near the future subway
- You want established enclaves like Bayview Hill or Mill Pond
- Lake Wilcox and the Oak Ridges Moraine trails appeal to you
- You are buying a detached home and want more inventory to choose from
- You want a condo at a lower average price
Quick fit check
Five questions, about thirty seconds. Pick the answer closest to how you live.
1. How will you commute?
2. Your ideal setting?
3. What are you buying?
4. What matters more?
5. If you are selling first, where?
Local Results
Michael John Lau in Markham and Richmond Hill
Recent sales on both sides of the Markham and Richmond Hill border, each priced from street-level data.
“Michael's market knowledge of Markham is exceptional. He knew every neighbourhood deeply. When we found the home we wanted, his analysis told us exactly what to offer. The whole process felt controlled and confident from start to finish.”
Markham vs Richmond Hill: Your Questions
They are almost even. In August 2026, the average sale was $1,208,692 in Markham and $1,205,777 in Richmond Hill, according to TRREB. Year to date, Richmond Hill averaged $1,214,329 and Markham $1,149,110. By type, Richmond Hill's detached homes averaged about $56,000 more, while Markham's condo apartments averaged about $100,000 more.
Markham. Its 2026 residential tax rate is 0.722889%, compared with 0.760104% in Richmond Hill. On every $1,000,000 of assessed value, that is about $7,229 a year in Markham and $7,601 in Richmond Hill. Ontario assessments are still based on 2016 values, so assessed value is usually below market value.
No. Neither city charges one. Buyers in both pay only Ontario's provincial land transfer tax. Toronto is the only Ontario city with a municipal land transfer tax.
The Yonge North Subway Extension will run about 8 km from Finch to Richmond Hill with stations at Steeles, Clark, Royal Orchard, Bridge and High Tech. Tunnelling contracts were awarded in 2025 and the launch shaft was excavated in July 2026, but Metrolinx has not set an opening date beyond saying it will follow the Ontario Line. Plan on the 2030s.
Markham, today. The Stouffville line has four Markham stations and all-day trains between Mount Joy and Union. The Richmond Hill line has four Richmond Hill stations but runs weekday rush-hour trains only, with buses at other times.
In August 2026, Markham had 4.1 months of inventory and Richmond Hill had 5.6. Fewer months of inventory generally favour sellers, and more favour buyers. That suggests buyers have a little more room to negotiate in Richmond Hill right now, and sellers a slightly stronger hand in Markham. Conditions change monthly and vary by street.
Yes. Michael John Lau has sold homes in both Markham and Richmond Hill, including Rouge Woods, Westbrook and Langstaff, and can coordinate both sides of a move so the closing dates and financing work together. See the buy before you sell guide.
Keep Comparing
More Markham Comparisons
Neighbourhood pages, home values, and the other side-by-side guides.
Street-Level Advice · No Obligation
Still Deciding Between Both?
Tell Michael where you work, what you are buying and your budget, and he will show you the streets on each side of the border that fit, with the recent sales behind them. Selling in one city to buy in the other? He will plan both sides.
Call (416) 700-0286Email info@callmikelau.com
Selling? Free home evaluation
Michael will be in touch within 24 hours. For anything urgent, call (416) 700-0286.
Michael John Lau is a licensed REALTOR® with eXp Realty (Licence #4784577) serving buyers and sellers in Markham and York Region, Ontario. Market figures are from TRREB's August 2026 Market Watch and change monthly. Tax rates are each city's published 2026 residential rates. School boundaries change; confirm the schools for any address with the YRDSB and YCDSB school locators. This page is general information, not legal, tax, or financial advice.