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      Markham Rental Market Report

      Markham, Ontario Rent Prices — September 2026

      Markham leases are down on a year ago: leases at 61% of new rental listings in September, a landlord's market, with 1.74 months of inventory. September rents were lower than a year ago.

      $2,843Average Rent
      $2,800Median Rent
      371Leases
      1.7 moInventory
      Landlord'sMarket

      Rents down 4.6% on the year

      5,095 leases were signed in the 12 months to September 2026, up 9% on the year. The 12-month average rent is $2,820, 7.2% below its March 2024 peak. Held to the same mix of unit sizes, rents are down 4.4%.

      Market phase: Busy but rents easing, landlords in control. Four of seven signals are hotter than a year ago and one cooler.

      Updated: October 21, 2026 | Data: HabiStat MLS® statistics, all associations, leases | Every month since January 2010

      At a Glance

      Markham Rental Market — September 2026 At a Glance

      September 2026 against Sep 2025: 371 leases against 384, 609 new rental listings against 716, and 645 units on the market against 831. Average rent was $2,843 against $2,921. For the bigger picture see the Markham sales market report and the York Region rental market page.

      Charcoal edge: cooler than a year earlier, better for tenantsGold edge: hotter than a year earlier, better for landlordsSmall charts: the 12-month average of each figure, Sep 2021 to Sep 2026
      Average Rent
      $2,843
      ▼ 2.7% vs Sep 2025 ($2,921)
      Sep 2021: $2,38712-mo avg now: $2,820
      Median Rent
      $2,800
      ▼ 2.3% vs Sep 2025 ($2,865)
      Sep 2021: $2,28112-mo avg now: $2,707
      Leases Signed
      371
      ▼ 3.4% vs Sep 2025 (384)
      Sep 2021: 32712-mo avg now: 425
      Leases-to-New-Listings Ratio
      61%
      54% a year earlier · over 60% favours landlords
      Sep 2021: 71%12-mo avg now: 65%
      Months of Inventory
      1.74
      2.16 a year earlier
      Sep 2021: 1.1612-mo avg now: 2.09
      Median Days to Lease
      15
      19 a year earlier · average 26
      Sep 2021: 1312-mo avg now: 21
      Rent Achieved vs Asking
      99%
      99% a year earlier · average lease against list
      Sep 2021: 100%12-mo avg now: 99%
      New Rental Listings
      609
      ▼ 14.9% vs Sep 2025 (716)
      Sep 2021: 46312-mo avg now: 657
      Active Rental Listings
      645
      ▼ 22.4% vs Sep 2025 (831)
      Sep 2021: 36412-mo avg now: 832
      September Summary: 371 leases, down 3.4% on Sep 2025. Average rent $2,843 and median $2,800, down 2.3% on the median. Leases equalled 61% of new listings against 54% a year earlier, and inventory fell from 2.16 to 1.74 months. The typical unit leased in 15 days, at 99% of its asking rent.
      Data: HabiStat MLS® statistics, all associations, leases to September 2026. October 2026 to date (not included in any figure on this page): 94 leases, 201 new rental listings, 670 active. Metrics may be revised.
      Market Conditions

      Is Markham a Landlord's or Tenant's Market? — September 2026

      The cleanest single read on who holds the leverage is the leases-to-new-listings ratio: leases divided by new rental listings over the same period. Under 40% favours tenants and over 60% favours landlords, the same rule the sales report uses. We show it three ways, because one month can swing: the latest month, the last three months and the last twelve.

      Balance Meter

      Tenant's Balanced Landlord's 0%40%60%100% 61% Landlord's market leases-to-new-listings · Sep 2026
      Sep 202661%Landlord's market
      Last 3 months72%Landlord's market
      Last 12 months65%Landlord's market
      Behind the reading
      371LeasesSep 2026
      609New listingsSep 2026
      1.36Months of inventory3-month measure
      15Days to leaseMedian, Sep 2026
      99%Rent vs askingAverage, Sep 2026
      129Listings withdrawnSep 2026

      The needle shows the latest month, which can swing. The three- and 12-month reads are steadier. Since 2010 the 12-month share has never been under 54%; its median is 67%.

      Market Phase
      Busy but rents easing, landlords in control

      Seven signals, Jul to Sep 2026 against the same months a year earlier.

      Leases signed, last 3 months
      1,456 vs 1,390 a year ago
      +4.7%Steady
      New rental listings, last 3 months
      2,010 vs 2,234 a year ago
      −10.0%Hotter
      Leases-to-new-listings ratio
      72% vs 62% a year ago
      +10 ptsHotter
      Months of rental inventory, three-month
      1.36 vs 1.83 a year ago
      −0.47Hotter
      Active rental listings
      645 vs 831 a year ago
      −22.4%Hotter
      Average rent, last 3 months
      $2,835 vs $2,929 a year ago
      −3.2%Cooler
      Rent achieved against asking
      99.0% vs 99.0% a year ago
      0 ptsSteady

      Hotter means tighter for tenants; cooler means more room. A signal moves only when it changes by a set amount: 5% for leases and listings, 2% for rent, 3 points for the leases-to-listings ratio, 1 point for rent against asking, 0.3 months for inventory.

      What this means: Most signals moved in the landlord's favour. Over the last three months against a year earlier, leases were up 5%, new listings down 10% and active listings down 22%, while rent was down 3.2%. Fewer units are coming to market, but rents have not followed yet. Over 12 months leases equalled 65% of new listings: a landlord's market, below the 67% median since 2010.
      Leases-to-new-listings ratio — 12-month rolling, since 2010
      TenantsBalancedLandlords0%20%40%60%80%100%2013201620192022202565%
      TenantsBalancedLandlords0%20%40%60%80%100%2016202265%

      Leases equalled 65% of new rental listings over the last 12 months, against 63% a year earlier. The median since 2010 is 67%.

      Months of rental inventory
      MonthlyThree-month
      0.001.002.003.004.0020122016202020241.741.36
      0.001.002.003.004.002010201620221.741.36

      1.36 months on the three-month measure, against 1.83 a year earlier. How long today's rental listings would last at the current pace of leasing.

      Every Month Since 2010 — Leases-to-New-Listings Ratio

      Charcoal leans to tenants, gold to landlords. Rentals run tighter than sales, so the shading is split finer above 50%. Read across a row to see the season; read down a column to compare the same month over 17 years.

      JanJFebFMarMAprAMayMJunJJulJAugASepSOctONovNDecD 2026505967657272748261 2025575463716275637054614957 2024566881847973706957565866 2023668489887681768067565558 2022687388897882686659596475 2021608483958278666465746889 2020687373706464757860595772 2019757878837978737670686572 2018646279927488858678747275 20175476971008466707666606174 2016576674757174737256565571 2015486961817473637358645255 2014415059618975736742534457 2013505468717365606054443651 2012476685707465677162445058 2011658059674866767460644964 2010707082536368676970514963
      Under 40% (tenant's)40 to 50%50 to 55%55 to 60%60 to 70%70 to 85%85% and over

      When Markham Leases — Average Leases by Month, 2021 to 2025

      295
      Jan
      305
      Feb
      385
      Mar
      390
      Apr
      393
      May
      410
      Jun
      426
      Jul
      421
      Aug
      347
      Sep
      344
      Oct
      314
      Nov
      273
      Dec

      ■ Busiest month | Average of the five full calendar years. July averages 426 leases; December averages 273.

      Best placed: owners of 3-bedroom homes (leases at 68% of new listings over 12 months) and of condo apartments (77%), where supply is thinnest. Under the most pressure: 1-bedroom landlords. Their 12-month rent is down 5.2%, the biggest drop of any size, and leases were 69% of their new listings, against 59% for 2-bedroom units. For tenants, the room to negotiate sits in 2-bedroom units and units that have been listed a while.

      Pricing a Markham rental or weighing a lease? Get the numbers for your exact unit.

      Get a Rental Price Check →
      Rent by Bedroom

      Markham Rent Prices by Bedroom — 1, 2, 3 & 4 Bedrooms

      The biggest drop is 1-bedroom units: $2,187 on a 12-month average, −5.2%. In September alone, 1-bedroom units averaged $2,185 against $2,261 a year earlier.

      1-Bedroom
      $2,187 /mo
      12-month average · −5.2% on the year · −8.3% from peak
      1,778 leases
      69% leases-to-listings
      177 active
      15 days to lease
      September: $2,185 avg · $2,300 median128 leases · $2,261 avg a year earlier
      Landlord-leaning
      2-Bedroom
      $2,649 /mo
      12-month average · −5.1% on the year · −6.8% from peak
      1,366 leases
      59% leases-to-listings
      232 active
      21 days to lease
      September: $2,663 avg · $2,800 median99 leases · $2,740 avg a year earlier
      Balanced
      3-Bedroom
      $3,241 /mo
      12-month average · −4.5% on the year · −6.7% from peak
      1,104 leases
      68% leases-to-listings
      120 active
      19 days to lease
      September: $3,279 avg · $3,200 median73 leases · $3,352 avg a year earlier
      Landlord-leaning
      4-Bedroom
      $3,873 /mo
      12-month average · −1.3% on the year · −4.3% from peak
      745 leases
      63% leases-to-listings
      89 active
      13 days to lease
      September: $3,798 avg · $3,700 median65 leases · $3,922 avg a year earlier
      Landlord-leaning
      Average rent by bedroom count — 12-month average, since 2010
      1 bedroom2 bedroom3 bedroom4 bedroom
      $1,000$1,500$2,000$2,500$3,000$3,500$4,000$4,50020122014201620182020202220242026$3,873$3,241$2,649$2,187
      $1,000$1,500$2,000$2,500$3,000$3,500$4,000$4,50020162022$3,873$3,241$2,649$2,187

      Total lease value divided by leases signed over the trailing 12 months, for each bedroom count.

      BedroomsLeases, 12 MoShareAverage Rentvs Year AgoFrom PeakPeak MonthLeases-to-ListingsActiveMedian Days
      1 bedroom1,77835%$2,187−5.2%−8.3%Sep 202469%17715
      2 bedroom1,36627%$2,649−5.1%−6.8%Jan 202559%23221
      3 bedroom1,10422%$3,241−4.5%−6.7%Jul 202468%12019
      4 bedroom74515%$3,873−1.3%−4.3%Sep 202463%8913

      Monthly figures for a single bedroom count rest on a few dozen leases, so the cards lead with the 12-month average. Bedroom counts do not cover every lease, so shares do not add to 100%.

      By Property Type

      Markham Rent by Home Type — Houses, Townhouses & Condos

      Detached houses are 21% of all Markham leases over 12 months, at $3,232 a month, down 5.6% on the year. Semi-detached homes had the biggest drop, −6.8% on 185 leases. Condo apartments had the highest leases-to-new-listings ratio, 77%, at an average of $2,516. Compare by bedroom count as well as type.

      Detached
      $3,232 /mo
      12-month average · −5.6% on the year · −7.4% from peak
      1,076 leases
      21% of all leases
      48% leases-to-listings
      2.93 months inventory
      Balanced
      Semi-detached
      $2,966 /mo
      12-month average · −6.8% on the year · −8.0% from peak
      185 leases
      4% of all leases
      54% leases-to-listings
      2.06 months inventory
      Balanced
      Row townhouse
      $3,254 /mo
      12-month average · −3.9% on the year · −5.4% from peak
      763 leases
      15% of all leases
      71% leases-to-listings
      1.03 months inventory
      Landlord-leaning
      Condo townhouse
      $2,950 /mo
      12-month average · −5.1% on the year · −8.5% from peak
      296 leases
      6% of all leases
      73% leases-to-listings
      1.03 months inventory
      Landlord-leaning
      Condo apartment
      $2,516 /mo
      12-month average · −4.4% on the year · −7.2% from peak
      2,542 leases
      50% of all leases
      77% leases-to-listings
      0.79 months inventory
      Landlord-leaning
      Average rent by property type — 12-month average, since 2010
      DetachedSemi-detachedRow townhouseCondo townhouseCondo apartment
      $1,000$1,500$2,000$2,500$3,000$3,50020122014201620182020202220242026$3,254$3,232$2,966$2,950$2,516
      $1,000$1,500$2,000$2,500$3,000$3,50020162022$3,254$3,232$2,966$2,950$2,516

      Total lease value divided by leases over the trailing 12 months. A type is drawn only for periods with at least 12 leases.

      Property TypeLeases, 12 MoShareAverage Rentvs Year AgoFrom PeakLeases-to-ListingsActiveMonths Inv.
      All homes5,095100%$2,820−4.6%−7.2%65%6451.36
      Detached1,07621%$3,232−5.6%−7.4%48%2852.93
      Semi-detached1854%$2,966−6.8%−8.0%54%352.06
      Row townhouse76315%$3,254−3.9%−5.4%71%731.03
      Condo townhouse2966%$2,950−5.1%−8.5%73%241.03
      Condo apartment2,54250%$2,516−4.4%−7.2%77%1920.79

      All homes also counts link homes and other types not listed, so shares do not add to 100%. Months of inventory is the three-month measure.

      Compared

      Markham Rent vs Nearby Towns — September 2026

      On the all-homes average, Markham is the fourth-highest of 9 nearby towns at $2,820. Unit for unit it is dearer than that: by 2-bedroom rent it ranks highest. Like for like, a 2-bedroom averages $2,649, within 1% of Richmond Hill's $2,629 and within 1% of Vaughan's $2,640.

      Average 2-Bedroom Rent — 12 Months to September 2026

      Markham$2,649
      Vaughan$2,640
      Richmond Hill$2,629
      Whitchurch-Stouffville$2,576
      Aurora$2,252
      Newmarket$2,192
      Barrie$2,186
      Georgina$2,160
      Bradford West Gwillimbury$1,934

      Each town's 2-bedroom leases over the last 12 months, total lease value divided by leases. Same source and method for every town.

      TownAverage Rentvs Year Ago1-Bed2-Bed3-BedLeases, 12 MoLeases-to-ListingsCondition
      Richmond Hill$2,992−2.3%$2,132$2,629$3,3113,33961%Landlord-leaning
      Aurora$2,985−3.3%$1,840$2,252$3,07560357%Balanced
      Whitchurch-Stouffville$2,976+0.1%$2,073$2,576$3,07832559%Balanced
      Markham$2,820−4.6%$2,187$2,649$3,2415,09565%Landlord-leaning
      Vaughan$2,657−1.4%$2,101$2,640$3,5465,71567%Landlord-leaning
      Georgina$2,633−7.2%$1,768$2,160$2,75534654%Balanced
      Bradford West Gwillimbury$2,606−3.3%$1,634$1,934$2,83028159%Balanced
      Newmarket$2,554−6.2%$1,882$2,192$2,9821,13965%Landlord-leaning
      Barrie$2,356−2.8%$1,881$2,186$2,5751,81458%Balanced

      All figures are 12-month measures to September 2026. A town's all-homes average moves with its mix: a town that leases more houses than condos shows a higher average even at the same rent per unit size, so compare by bedroom count.

      Renters, Landlords & Investors

      Renting or Leasing Out in Markham? September 2026 Playbook

      Markham is a landlord's market and supply is shrinking. Price to the bedroom count, list ready, decide quickly.

      Leases equalled 61% of new rental listings in September and inventory is 1.74 months. Rent is down 3.2% over three months, and leases over the past year equalled 65% of new listings. The units that sit are the ones priced above the market. Talk to Matthew directly →

      Renter's Playbook — September 2026
      Rents down 4.4% like for like
      1
      Budget by bedroom count12-month averages: 1-bedroom $2,187, 2-bedroom $2,649, 3-bedroom $3,241, 4-bedroom $3,873.
      2
      Have your file ready before you tourThe median listing leased in 15 days in September. A complete application on day one beats a slightly higher offer on day four.
      3
      Negotiate where supply is loosest2-bedroom leases equalled 59% of new listings over 12 months, the lowest of any size. A unit listed for 30 days or more is the one to ask about.
      4
      Time it if you canJuly is the busiest leasing month on average and December the quietest. Fewer tenants are searching in the quiet months.
      Landlord's Playbook — September 2026
      61% leases-to-listings
      1
      Price to this year, not last year12-month rent is 7.2% under the March 2024 peak. Leases over 12 months equalled 65% of new listings.
      2
      Use your bedroom count's number1-bed $2,187 · 2-bed $2,649 · 3-bed $3,241 · 4-bed $3,873, 12-month averages.
      3
      Watch the first two weeksThe median unit leased in 15 days in September, at 99% of asking. Few showings in the first 14 days means the rent is the problem.
      4
      Screen properlyTake the time to verify income, references and credit. A fast lease to the wrong tenant costs more than a week of vacancy.

      For Investors

      5,095
      leases signed in the last 12 months, up 9% from 4,668
      Leases are up 9% on the year and inventory is 1.36 months; rents are down like for like. Underwrite on today's rent by bedroom count, not on the 2024 peak.
      Rental inventorythree-month measure
      1.36 mo
      12-month average rentfrom the 2024 peak
      −7.2%
      Rent vs askingaverage, Sep 2026
      99%
      Run your numbers →

      Before You Apply

      15 days
      median time a Markham rental listing took to lease in September 2026
      Have every document in hand before you book a viewing.
      • Credit reportA current report from Equifax or TransUnion.
      • Employment letterConfirming your position, start date and annual salary.
      • Recent pay stubsThe last two to three.
      • Rental referencesContact previous landlords in advance.
      • Bank statementsSome landlords ask for 60 to 90 days of history.
      Ask Matthew →

      Thinking of Buying Instead?

      $2,649
      average 2-bedroom rent a month over 12 months
      If you are weighing a purchase instead, compare this rent with what owning would cost at today's prices.
      3-bedroom rent12-month average
      $3,241
      4-bedroom rent12-month average
      $3,873
      Detached house rent12-month average
      $3,232
      Rent vs own calculator →

      Markham sales market report →

      Location Guide

      Why Rent in Markham, Ontario?

      Commuter Access

      Markham is served by the Stouffville GO line, with stations including Markham, Unionville, and Centennial, providing direct rail access to Union Station. Highway 407, 404, and 401 also make Markham highly accessible by car.

      Schools

      York Region District School Board and York Catholic DSB operate across Markham, with several schools consistently ranked among Ontario's best — a major driver of family rental demand in Unionville, Cornell, Berczy, and Angus Glen.

      Amenities

      Markham offers a unique mix of dining, retail, and culture — from historic Unionville Main Street to Pacific Mall and Markville Shopping Centre. The city's diverse culinary scene and community amenities are a draw for renters of all backgrounds.

      Lifestyle

      Markham combines suburban quality of life with one of Ontario's largest tech employment clusters. Companies including IBM, AMD, Honeywell, and Huawei have major Markham offices, making the city an ideal live-work destination that minimizes commute time for tech professionals.

      MG

      Matthew Gizzie

      REALTOR® · Keller Williams Realty Centres, Brokerage · meetmatthew.ca

      Matthew publishes monthly rental market reports using MLS® lease data to help renters, landlords, and investors understand pricing trends across Markham's neighbourhoods and York Region. He serves buyers, sellers, and investors across York Region, Simcoe County, and the Greater Toronto Area through Keller Williams Realty Centres.

      Work With a Local Markham Rental Expert

      Whether you are looking to rent in Markham or lease out a property, get the current numbers for your exact situation.

      Frequently Asked Questions

      Markham Rental Market FAQ — Rent Prices, Leasing & Tenant Questions

      Rent Prices

      How much is rent in Markham, Ontario in 2026? +
      The average rent in Markham was $2,843 a month in September 2026, and the median was $2,800. Over the last 12 months the average was $2,820. By bedroom count, 12-month averages: 1-bedroom $2,187, 2-bedroom $2,649, 3-bedroom $3,241, 4-bedroom $3,873. Source: HabiStat MLS® statistics, all associations.
      How much is a 1-bedroom apartment in Markham? +
      A 1-bedroom rental in Markham averaged $2,187 a month over the 12 months to September 2026, −5.2% on the year. In September alone, 1-bedroom leases numbered 128, at an average of $2,185 and a median of $2,300.
      How much is a 2-bedroom apartment in Markham? +
      A 2-bedroom rental averaged $2,649 a month over the 12 months to September 2026, −5.1% on the year. In September, 2-bedroom leases numbered 99, at an average of $2,663 and a median of $2,800.
      How much does it cost to rent a house in Markham? +
      Detached houses leased for an average of $3,232 a month over the last 12 months and made up 21% of all Markham leases. By size, 3-bedroom units of every type averaged $3,241 and 4-bedroom units $3,873.
      Are rents going up or down in Markham? +
      Down on the headline: the 12-month average rent is $2,820, −4.6% on the year and 7.2% below its March 2024 peak. Like for like, rents are down 4.4%. By size: 1-bedroom −5.2%, 2-bedroom −5.1%, 3-bedroom −4.5%, 4-bedroom −1.3%.
      Is Markham cheaper to rent than Richmond Hill or Vaughan? +
      No, like for like it costs more. Over the 12 months to September 2026, a 2-bedroom averaged $2,649 in Markham, against $2,629 in Richmond Hill and $2,640 in Vaughan. Across all homes, Markham's average of $2,820 is the fourth-highest of the 9 towns we track, against $2,992 in Richmond Hill and $2,657 in Vaughan.

      Market Conditions

      Is Markham a landlord's or tenant's market? +
      A landlord's market by the numbers. Leases equalled 65% of new rental listings over the last 12 months and 61% in September; under 40% favours tenants and over 60% favours landlords. Inventory is 1.74 months. Like-for-like rent is down 4.4% on the year, so landlords have tenants but not pricing power.
      Can I negotiate rent in Markham? +
      On some units. Leases over the last 12 months equalled 65% of new rental listings, and 2-bedroom units had the lowest leases-to-new-listings ratio at 59%. Units that have sat past the 15-day median are the best place to ask. A complete application makes the request easier to accept.
      How long does it take to find a rental in Markham? +
      The median rental listing leased in 15 days in September 2026; the average was 26 days. By size over recent months: 1-bedroom 15 days, 2-bedroom 21 days, 3-bedroom 19 days, 4-bedroom 13 days.
      When is the busiest time to rent in Markham? +
      Over 2021 to 2025, July averaged the most leases (426) and December the fewest (273). Searching in the quieter winter months means fewer tenants competing for each unit.

      Tenant & Landlord Questions

      What documents do I need to rent in Markham? +
      Standard Markham rental applications ask for government-issued photo ID, a current credit report, a signed employment letter confirming your position and salary, your two most recent pay stubs, and one or two landlord references. Some landlords also request 60 to 90 days of bank statements. Having all documents ready before you tour improves your chances.
      What credit score do I need to rent in Markham? +
      Requirements vary by landlord. Private landlords renting houses may weigh income and references more heavily than a score; condo and building landlords usually run a formal check through Equifax or TransUnion. If your score is weak, a strong employment letter or a co-signer can strengthen your application.
      Are basement apartments in Markham legal? +
      Not all are. A legal basement unit must have proper ceiling height, egress windows for fire escape, a separate entrance, and meet Ontario Building Code requirements. Before signing a lease on a basement apartment, ask the landlord to confirm the unit is a registered second suite with the City of Markham. Renting an illegal unit can expose tenants to safety risks and complicate disputes under the Residential Tenancies Act.
      Does rent control apply in Markham? +
      Ontario's rent increase guideline limits how much a landlord can raise rent each year for an existing tenant, but it applies only to units first occupied for residential purposes before November 15, 2018. Newer units are exempt, so most newer condos and purpose-built rentals in Markham fall outside it. Confirm the first-occupancy date before signing if this matters to you.
      How much can I charge for rent in Markham? +
      Start from your unit's bedroom count. Over the 12 months to September 2026: 1-bedroom $2,187, 2-bedroom $2,649, 3-bedroom $3,241, 4-bedroom $3,873. Units leased at 99% of asking on average in September, so the listed rent is close to what you will get: set it right at the start.
      Is Markham a good place to invest in rental property? +
      Demand is growing: 5,095 leases in 12 months, up 9% on the year, leases at 65% of new listings and 1.36 months of inventory. The 12-month average rent is 7.2% below its March 2024 peak. Run your numbers on today's rent, with the investment deal analyzer, and check purchase prices in the Markham sales market report.
      Is Markham a good place to live for Toronto commuters? +
      The Stouffville GO line serves Markham, with stations including Markham, Unionville and Centennial, giving direct rail connections to Union Station. A 2-bedroom here averages within 1% of Richmond Hill over the last 12 months.
      Explore More

      Related Reports & Resources

      Sales Market
      Markham Real Estate Market 2026 →
      Rental
      York Region Rental Market Report →
      Rental
      Richmond Hill Rental Market Report →
      York Region
      York Region Housing Market Report →
      Tools
      Rent vs. Own Calculator →
      Tools
      Investment Deal Analyzer →
      Work With Matthew
      Meet Matthew →
      Work With Matthew
      Client Reviews →

      Coverage

      Leases recorded through the MLS® for Markham, Ontario. Source: HabiStat MLS® statistics, all associations, monthly from January 2010 to September 2026. Leases arranged privately or directly by purpose-built rental buildings are not included. The current partial month is reported separately and left out of every calculation.

      Key Definitions

      Leases-to-new-listings ratio: leases signed in the period divided by new rental listings in the same period, two separate totals. It measures pressure, not the fate of any one listing: a 60% reading does not mean 60% of that month's listings leased, and it is not a vacancy rate. Months of inventory: how long active rental listings would last at the current pace of leasing; the three-month measure uses the trailing three months of leases. 12-month average rent: total lease value divided by leases signed over the trailing 12 months. Rent vs asking: the rent agreed as a percentage of the listed rent. Distance from peak: the 12-month average rent against its highest level to that point.

      How the Reads Are Made

      Market phase compares the latest three months with the same three months a year earlier and tags each signal hotter, cooler or steady by a fixed threshold. The balance meter treats a leases-to-new-listings ratio under 40% as a tenant's market and over 60% as a landlord's market. These are rules applied to the data, not forecasts.

      Limitations

      Figures by bedroom count or property type rest on smaller samples and can move with the mix of units leased, which is why they are shown over 12 months. Average rent for all homes moves with the mix of unit sizes leased. All data is subject to revision.

      All metrics are for informational purposes only and do not constitute financial, legal or investment advice. MLS® is a registered trademark of the Canadian Real Estate Association. Matthew Gizzie is a registered REALTOR® with Keller Williams Realty Centres, Brokerage. Not intended to solicit clients already under contract.

      Matthew Gizzie

      Matthew Gizzie

      Real Estate Professional

      Keller Williams Realty Centres, Brokerage.

      16945 Leslie Street unit 27-29, Newmarket, Ontario, L3Y 9A2

      Matthew@meetmatthew.ca

      (289) 338-1433

      (905) 895-5972
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      Matthew Gizzie is a registered REALTOR® with Keller Williams Realty Centres, Brokerage. Proudly serving York Region, Simcoe County, and the Greater Toronto Area including Newmarket, Aurora, Richmond Hill, Vaughan, Markham, Barrie, and Bradford. Not intended to solicit buyers or sellers currently under contract. MLS® and REALTOR® are trademarks of The Canadian Real Estate Association (CREA).

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