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Matthew Gizzie Real Estate Professional
Keller Williams Realty Centers, Brokerage.
When would you like to visit...
Matthew Gizzie Real Estate Professional
Keller Williams Realty Centers, Brokerage.
Markham Rental Market Report – February 2026
Find What You Need Faster
This report is built for three types of readers. Jump to the section most relevant to you.
Looking to Rent in Markham?
Find out what you should expect to pay in Markham, how quickly units move, and what landlords are looking for in a tenant right now.
- Average and median rent by bedroom
- How long units stay on market
- Whether you can negotiate rent
- Documents you need to apply
- Basement apartment legality guide
Leasing Out a Property in Markham?
Understand where to price your Markham unit, how fast the market is absorbing inventory, and what tenants are competing for right now.
- Current average rent by property type
- Days on market benchmarks
- SNLR and inventory levels
- Year-over-year pricing context
- Ontario rent control explained
Evaluating Markham as a Rental Market?
Assess Markham rental demand fundamentals, pricing trends, property type mix, and how Markham neighbourhoods compare across the city.
- 13-month rent trend with peak data
- Supply and demand indicators
- Property type market share breakdown
- Price distribution across rent bands
- Stouffville GO line (3 Markham stations) demand drivers
Key Takeaways – February 2026
Down from $2,929 in February 2025 as supply expanded city-wide
Active leasing volume across all Markham neighbourhoods
Balanced market conditions across Markham
SNLR places Markham in balanced market territory
Markham Rental Market Key Facts – February 2026
All figures sourced from TRREB MLS® lease records for Markham, Ontario. Last updated: February 2026.
- The average rent in Markham in February 2026 is $2,740.
- The median rent in Markham is $2,575.
- A total of 331 rental transactions occurred in February 2026 across Markham.
- The sales-to-new-listings ratio is 57%, indicating balanced market conditions.
- Rental inventory currently sits at approximately 2.50 months of supply.
- The average rental listing takes 32 days to lease.
- One-bedroom units average $1,940 per month in Markham.
- Four-bedroom homes average $3,537 per month in Markham.
- Average rent declined 6.4% year-over-year from $2,929 in February 2025.
- Lease volume increased 17.9% year-over-year, rising from 281 to 331 transactions.
Markham Rental Market Data – February 2026
| Metric | February 2026 |
|---|---|
| Average Rent | $2,740 |
| Median Rent | $2,575 |
| Lease Volume | 331 transactions |
| New Listings | 581 |
| Active Listings | 860 |
| Sales-to-New-Listings Ratio (SNLR) | 57% |
| Months of Inventory | 2.50 |
| Average Days on Market | 32 days |
| Median Days on Market | 23 days |
< 40% Balanced
40–60% Landlord's Market
> 60%
Data sourced from TRREB MLS® system lease records. All figures reflect Markham, Ontario activity in the February 2026 reporting period.
Average Rent – 13 Month Trend (Markham)
Average rent peaked at $2,993 in May 2025 and has since softened to $2,740 in February 2026, a decline of 8.4% from the peak. Lease volume increased year-over-year to 331 transactions, suggesting price moderation is supply-driven while underlying demand from Markham's tech employment base remains healthy.
February 2025 vs. February 2026 — Markham
| Metric | Feb 2025 | Feb 2026 | Change |
|---|---|---|---|
| Average Rent | $2,929 | $2,740 | ▼ $189 (−6.4%) |
| Median Rent | $2,880 | $2,575 | ▼ $305 (−10.6%) |
| Lease Volume | 281 | 331 | ▲ 50 (+17.8%) |
| Active Listings | 688 | 860 | ▲ 172 (+25.0%) |
Lease volume grew 17.8% year-over-year to 331 transactions in Markham. Average rent softened 6.4% while active listings increased by 25.0%, creating more competitive conditions for tenants compared to 2025. The SNLR sits at 57%, indicating a balanced market where well-priced product moves but overpriced units see extended days on market.
Rent by Neighbourhood – Markham February 2026 Summary
| Neighbourhood | Avg Rent | Median Rent | Leases | SNLR | Avg DOM |
|---|---|---|---|---|---|
| Unionville | $2,646 | $2,400 | 90 | 63% | 28 |
| Greensborough | $2,211 | $2,100 | 55 | 67% | 25 |
| Commerce Valley | $2,786 | $2,450 | 21 | 78% | 27 |
| Cornell | $2,621 | $2,600 | 19 | 49% | 44 |
| Middlefield | $2,739 | $2,825 | 14 | 38% | 43 |
| Milliken Mills East | $3,286 | $3,200 | 7 | 47% | 36 |
| Angus Glen | $3,598 | $3,590 | 8 | 67% | 28 |
| Royal Orchard | $4,057 | $4,150 | 7 | 88% | 40 |
| Berczy | $3,059 | $2,950 | 10 | 50% | 32 |
| Cedarwood | $2,874 | $2,825 | 10 | 67% | 25 |
| Markham Total | $2,740 | $2,575 | 331 | 57% | 32 |
Volume is concentrated in Unionville and Greensborough: Unionville (90) and Greensborough (55) together account for 44% of all Markham lease transactions in February 2026. These high-density, transit-accessible neighbourhoods drive the city's rental market. Commerce Valley (21) and Cornell (19) round out the top four. For investors, Unionville offers the highest liquidity; for value renters, Greensborough stands out with the lowest average rent at $2,211 while maintaining a strong 67% SNLR.
Rent Prices by Bedroom – Markham Ontario
| Bedrooms | Average Rent | Median Rent | Leases |
|---|---|---|---|
| 1 Bedroom | $1,940 | $2,050 | 34 |
| 2 Bedroom | $2,353 | $2,300 | 151 |
| 3 Bedroom | $3,057 | $3,000 | 73 |
| 4 Bedroom | $3,537 | $3,450 | 57 |
Two-bedroom units account for the largest share of lease transactions in Markham (151 of 331), reflecting strong demand from couples, young families, and co-tenants. Three and four-bedroom rentals represent family-sized demand driven by Markham's tech sector professionals and Stouffville GO commuters, with 130 combined transactions in February 2026.
Rental Price Distribution – Where the Market Clears
| Rent Range | Leases | Share of Market |
|---|---|---|
| $1,000 – $1,499 | 2 | 0.6% |
| $1,500 – $1,999 | 31 | 9.4% |
| $2,000 – $2,499 | 119 | 35.9% |
| $2,500 – $2,999 | 63 | 19.0% |
| $3,000 – $3,499 | 64 | 19.3% |
| $3,500 – $3,999 | 27 | 8.2% |
| $4,000 – $4,499 | 13 | 3.9% |
| $4,500+ | 12 | 3.6% |
The largest concentration of leases falls in the $2,000–$2,499 band (35.9%), reflecting the dominance of two-bedroom condo apartments across Markham. The $3,000–$3,499 band (19.3%) is notably larger than the broader York Region, driven by Markham's significant detached and townhouse rental inventory — particularly in neighbourhoods like Unionville, Cornell, and Berczy. Only 9.4% of transactions fall in the $1,500–$1,999 range, indicating limited one-bedroom supply in the city.
Rental Inventory by Property Type
| Property Type | Market Share |
|---|---|
| Condo Apartment | 53% |
| Attached Row Townhouse | 15% |
| Detached | 16% |
| Condo Townhouse | 6% |
| Semi-Detached | 5% |
| Other | 5% |
Why condo apartments dominate: Markham's rental market is driven by the substantial condo apartment inventory built along the Highway 7 corridor and Birchmount/Woodbine node, particularly in Unionville, Commerce Valley, and Cornell. Condo apartments make up 53% of all lease transactions. Detached homes represent 16% — below the York Region city average — as Markham's townhouse and condo product mix skews the market toward higher-density rentals. Investors with Highway 7 corridor condo product are well-positioned for stable absorption.
Inventory, Demand & Market Balance
Supply
Inventory currently sits at approximately 2.50 months, indicating balanced rental availability. Balanced rental markets typically carry 3–4 months of supply. Markham's reading reflects reasonable absorption across 860 active listings.
Demand
Strong demand continues from Toronto commuters via the Stouffville GO line (Markham, Unionville, Centennial stations), tech sector employees along the Highway 7 corridor, and families seeking proximity to Markham's highly-ranked schools.
Market Balance
A 57% SNLR places Markham firmly in balanced market territory. Pricing power is moderating, with high-demand neighbourhoods like Commerce Valley (78% SNLR) and Royal Orchard (88% SNLR) favouring landlords, while Cornell (49%) and Middlefield (38%) give tenants more room to negotiate.
12-Month Rent Trend – Markham Ontario
| Month | Avg Rent | Median Rent | Leases |
|---|---|---|---|
| February 2025 | $2,929 | $2,880 | 281 |
| March 2025 | $2,968 | $2,800 | 386 |
| April 2025 | $2,950 | $2,850 | 439 |
| May 2025 | $2,993 | $2,900 | 471 |
| June 2025 | $2,965 | $2,800 | 507 |
| July 2025 | $2,926 | $2,850 | 505 |
| August 2025 | $2,937 | $2,850 | 501 |
| September 2025 | $2,921 | $2,850 | 385 |
| October 2025 | $2,856 | $2,800 | 377 |
| November 2025 | $2,813 | $2,700 | 324 |
| December 2025 | $2,902 | $2,800 | 282 |
| January 2026 | $2,830 | $2,700 | 327 |
| February 2026 | $2,740 | $2,575 | 331 |
Prior month data will be populated as the reporting series builds. This table will reflect a rolling 12-month dataset updated monthly using MLS® lease records.
Why Rent in Markham, Ontario?
Commuter Access
Markham is served by the Stouffville GO line with three stations — 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.
Renting Tips for Tenants in Markham
The Markham rental market moves quickly. Being prepared before you apply significantly increases your chances of securing the unit you want.
- Credit Report: Obtain a current credit report from Equifax or TransUnion. Most landlords require a score of 650 or higher.
- Employment Letter: Secure a formal letter from your employer confirming your position, start date, and annual salary.
- Recent Pay Stubs: Prepare the last two to three pay stubs as proof of current income.
- Rental References: Contact previous landlords in advance and confirm they are willing to provide a reference.
- Bank Statements: Some landlords request 60–90 days of banking history to verify financial stability.
- Work With a Local Agent: A local REALTOR® provides access to listings before they are widely advertised and can help you submit a competitive application quickly.
Pro Tip: In high-demand Markham neighbourhoods like Commerce Valley (78% SNLR) and Royal Orchard (88% SNLR), desirable units receive multiple applications within 24–48 hours. Having your full documentation package ready before you begin touring puts you in a position to apply the same day.
Rent by Neighbourhood – Markham February 2026
Markham's rental market varies significantly across its neighbourhoods. Here's how top areas performed in February 2026, based on TRREB MLS® lease data.
| Municipality | Avg Rent | Median Rent | Leases | SNLR | Avg DOM | Median DOM |
|---|---|---|---|---|---|---|
| Unionville | $2,646 | $2,400 | 90 | 63% | 28 | 19 |
| Greensborough | $2,211 | $2,100 | 55 | 67% | 25 | 17 |
| Commerce Valley | $2,786 | $2,450 | 21 | 78% | 27 | 21 |
| Cornell | $2,621 | $2,600 | 19 | 49% | 44 | 53 |
| Middlefield | $2,739 | $2,825 | 14 | 38% | 43 | 36 |
| Milliken Mills East | $3,286 | $3,200 | 7 | 47% | 36 | 37 |
| Angus Glen | $3,598 | $3,590 | 8 | 67% | 28 | 23 |
| Royal Orchard | $4,057 | $4,150 | 7 | 88% | 40 | 43 |
| Berczy | $3,059 | $2,950 | 10 | 50% | 32 | 31 |
| Cedarwood | $2,874 | $2,825 | 10 | 67% | 25 | 22 |
Unionville leads Markham in lease volume at 90 transactions — 27% of all city activity. The historic Main Street Unionville, proximity to Unionville GO station, and a dense condo corridor drive consistent rental demand from young professionals and commuters. The 63% SNLR signals ongoing landlord advantage in this high-demand node.
Greensborough is Markham's standout value market — lowest average rent in the city at $2,211 while maintaining a healthy 67% SNLR and 25-day average DOM. This combination of affordability and demand strength makes it the top choice for budget-conscious renters and an underrated bet for investors targeting entry-level rental product.
Commerce Valley carries the highest SNLR of any significant neighbourhood in Markham at 78%, signalling strong landlord conditions. Its proximity to the Highway 7 tech corridor, T&T Supermarket anchored retail, and Viva transit makes it a prime location for tech workers and families. Investors in this node benefit from fast absorption.
Cornell's 49% SNLR and 44-day average DOM make it the most tenant-friendly neighbourhood in Markham. Supply is keeping pace with demand in this newer master-planned community. Tenants searching Cornell have real negotiating leverage — particularly on units that have been sitting for 30+ days. Markham Stouffville Hospital proximity drives healthcare worker rental demand.
Angus Glen is Markham's premier golf course community and one of the city's most prestigious rental addresses. At $3,598 average rent and a 67% SNLR, it combines luxury pricing with strong absorption — demand from executives and high-income professionals is holding up well. Limited inventory in this low-density enclave keeps pricing power intact for landlords.
Royal Orchard posts Markham's highest SNLR at 88% with only 7 transactions — a thin but highly competitive market. At $4,057 average rent, this is Markham's most premium rental territory. The combination of strong absorption and luxury pricing makes it an exceptional hold for landlords with luxury property in this neighbourhood.
Key Neighbourhood Takeaway: Unionville (90 leases) and Greensborough (55 leases) dominate Markham volume — together accounting for 44% of all city rental activity. Royal Orchard leads on absorption at 88% SNLR while Cornell lags at 49% SNLR, signalling supply surplus in the city's east end. Greensborough is the standout value play with the lowest average rent ($2,211) and a solid 67% SNLR. Commerce Valley is the landlord's sweet spot — strong demand, fast absorption, and above-average rents driven by tech corridor proximity.
What the Data Doesn't Tell You About Renting in Markham
Market reports show you city averages. They don't show you that a well-priced two-bedroom condo in Unionville gets four applications in 72 hours, while an overpriced three-bedroom in Cornell sits for 60 days.
After working across Markham and York Region, here are the on-the-ground patterns I see that don't show up in the headline numbers.
"The Markham rental market in 2026 is a city of two speeds. Unionville and Commerce Valley are absorbing quickly with strong SNLR readings, while Cornell and Middlefield are showing signs of oversupply at current price points. Investors and tenants who understand neighbourhood-level differences — not just the city average — are the ones making the right moves."
— Matthew Gizzie, REALTOR® · Markham & York RegionThe GO Transit Premium
Units within walking distance of Markham GO, Unionville GO, or Centennial GO station command a consistent premium of $150–$300/month over comparable units without transit access. This is the single strongest rent premium driver in Markham — landlords with transit-adjacent product should price to this premium, and tenants should factor transit savings into their overall budget math.
Seasonality Matters More Than People Think
February is historically one of the slowest leasing months in Markham — yet 331 transactions still occurred. Spring (April–June) is peak season, when families time moves around the school year and corporate relocations from the tech corridor accelerate. Landlords listing in March–April see the fastest absorption. Tenants who search in January–February have the most negotiating leverage before seasonal competition heats up.
Neighbourhood Price Gaps Are Real
Markham isn't one rental market — it's a collection of distinct sub-markets. Unionville and Commerce Valley account for 33% of volume and are condo-driven. Greensborough offers the best value at $2,211 average with a 67% SNLR. Cornell and Middlefield show sub-50% SNLRs at price points above $2,600, suggesting overpricing in those areas. Knowing the neighbourhood tier before you search or list makes a material difference to your outcome.
Application Quality Wins Over Price
Across Markham, well-priced units in desirable neighbourhoods receive 2–5 applications per listing. The strongest application wins — not necessarily the highest offer. A complete package (credit report, employment letter, pay stubs, references) submitted same-day consistently beats incomplete applications that offer slightly more rent. This is especially true in Unionville and Commerce Valley's high-competition condo market.
New Supply Is Moderating the Condo Market
New condo completions along Markham's Highway 7 corridor have added meaningful supply to the one-bedroom and two-bedroom segment — the primary driver of the 6.4% year-over-year rent decline. Investors who purchased pre-construction condos in 2021–2022 are now leasing at rents close to — but sometimes below — their original projections. Detached and townhouse rentals in Cornell, Berczy, and Angus Glen have held value comparatively better.
Rent Control: Know Before You Sign
Ontario's rent increase guideline only protects tenants in units first occupied before November 15, 2018. Most new Markham condo buildings are exempt. This means a landlord can reset rent to market rate between tenancies. For long-term renters, securing a unit in an older building with rent control protection can be worth paying a slight premium upfront — it's insurance against future increases.
Have a specific question about a Markham neighbourhood or rental strategy? I publish this report monthly and am happy to answer directly.
Ask Matthew →Work With a Local Markham Rental Expert
Whether you are looking to rent in Markham or lease out a property, working with a local real estate professional ensures you have access to the latest listings and accurate market data across all neighbourhoods.
Markham Rental Market – FAQ
Questions real tenants, landlords, and investors are searching for right now — answered with February 2026 TRREB MLS® data.
The data presented in this report is sourced from the TRREB MLS® System and reflects lease transactions recorded in February 2026 across Markham, Ontario. All metrics are for informational purposes only and do not constitute financial or investment advice. MLS® is a registered trademark of the Canadian Real Estate Association (CREA). Matthew Gizzie is a registered REALTOR® with Keller Williams Realty Centres, Brokerage.
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