When would you like to visit...
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.
Richmond Hill 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 Richmond Hill?
Find out what you should expect to pay, 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 Richmond Hill?
Understand where to price your 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 Richmond Hill as a Rental Market?
Assess rental demand fundamentals, pricing trends, property type mix, and how Richmond Hill municipalities compare across the region.
- 13-month rent trend with peak data
- Supply and demand indicators
- Property type market share breakdown
- Price distribution across rent bands
- GO Transit commuter demand drivers
Key Takeaways – February 2026
Down from $2,963 in February 2025 as supply expanded region-wide
Strong regional leasing volume across all Richmond Hill municipalities
Balanced-to-landlord market conditions across Richmond Hill
SNLR places Richmond Hill at the balanced territory
Richmond Hill Rental Market Key Facts – February 2026
All figures sourced from TRREB MLS® lease records for Richmond Hill, Ontario. Last updated: February 2026.
- The average rent in Richmond Hill in February 2026 is $2,896.
- The median rent in Richmond Hill is $2,795.
- A total of 204 rental transactions occurred in February 2026 across Richmond Hill.
- The sales-to-new-listings ratio is 52%, indicating balanced-to-landlord market conditions.
- Rental inventory currently sits at 2.74 months of supply.
- The average rental listing takes 35 days to lease.
- One-bedroom units average $1,811 per month in Richmond Hill.
- Four-bedroom homes average $3,691 per month in Richmond Hill.
- Average rent declined 2.3% year-over-year from $2,963 in February 2025.
- Lease volume increased 4.1% year-over-year, rising from 196 to 204 transactions.
Richmond Hill Rental Market Data – February 2026
| Metric | February 2026 |
|---|---|
| Average Rent | $2,896 |
| Median Rent | $2,795 |
| Lease Volume | 204 transactions |
| New Listings | 393 |
| Active Listings | 587 |
| Sales-to-New-Listings Ratio (SNLR) | 52% |
| Months of Inventory | 2.74 |
| Average Days on Market | 35 days |
| Median Days on Market | 26 days |
< 40% Balanced
40–60% Landlord's Market
> 60%
Data sourced from MLS® system lease records. All figures reflect Richmond Hill, Ontario activity in the February 2026 reporting period.
Average Rent – 13 Month Trend
Average rent peaked at $3,171 in June 2025 and has since softened to $2,896 in February 2026, a decline of 8.7% from the peak. Lease volume increased year-over-year to 204 transactions, suggesting price moderation is supply-driven while underlying demand remains healthy.
February 2025 vs. February 2026
| Metric | Feb 2025 | Feb 2026 | Change |
|---|---|---|---|
| Average Rent | $2,963 | $2,896 | ▼ $126 (−4.5%) |
| Median Rent | $2,825 | $2,795 | ▼ $150 (−5.7%) |
| Lease Volume | 196 | 204 | ▲ 8 (+4.1%) |
| Active Listings | 551 | 587 | ▲ 302 (+6.5%) |
Lease volume grew 4.1% year-over-year to 204 transactions across Richmond Hill. Average rent softened modestly by 4.5% while active listings increased by 6.5%, creating marginally more competitive conditions for tenants compared to 2025. The SNLR eased from approximately 55% to 60%, indicating a slight improvement in absorption.
Rent by Neighbourhood – February 2026 Summary
| Neighbourhood | Avg Rent | Median Rent | Leases | SNLR | Avg DOM |
|---|---|---|---|---|---|
| Crosby | $2,004 | $1,838 | 14 | 28% | 29 |
| Harding | $2,580 | $2,700 | 11 | 65% | 26 |
| Beaver Creek Business Park | $2,345 | $2,240 | 4 | 100% | 58 |
| Devonsleigh | $2,518 | $1,900 | 7 | 78% | 35 |
| Langstaff | $2,742 | $2,475 | 38 | 67% | 31 |
| Doncrest | $2,821 | $2,400 | 12 | 75% | 37 |
| Rural Richmond Hill | $2,946 | $3,225 | 22 | 45% | 34 |
| South Richvale | $3,125 | $2,400 | 14 | 67% | 39 |
| Westbrook | $4,292 | $4,050 | 6 | 50% | 32 |
| Richmond Hill Total | $2,896 | $2,795 | 204 | 52% | 35 |
Volume is concentrated in Langstaff and key mid-city neighbourhoods: Langstaff (38), Rural Richmond Hill (22), and South Richvale (14) account for approximately 36% of all Richmond Hill lease transactions. Langstaff drives condo volume while Rural Richmond Hill and the outer neighbourhoods lean toward detached and townhouse rentals. For investors, Langstaff and Doncrest offer the strongest absorption; for value renters, Crosby and Harding offer the best affordability.
Rent Prices by Bedroom – Richmond Hill Ontario
| Bedrooms | Average Rent | Median Rent | Leases |
|---|---|---|---|
| 1 Bedroom | $1,811 | $1,893 | 24 |
| 2 Bedroom | $2,385 | $2,400 | 75 |
| 3 Bedroom | $3,116 | $3,188 | 44 |
| 4 Bedroom | $3,691 | $3,500 | 41 |
Two-bedroom units account for the largest share of lease transactions in Richmond Hill (75 of 204), reflecting strong demand from couples, young families, and co-tenants. Three and four-bedroom rentals represent family-sized demand driven by Toronto commuters and regional relocations, with 85 combined transactions in February 2026.
Rental Price Distribution – Where the Market Clears
| Rent Range | Leases | Share of Market |
|---|---|---|
| $1,000 – $1,499 | 7 | 3.4% |
| $1,500 – $1,999 | 20 | 9.8% |
| $2,000 – $2,499 | 52 | 25.5% |
| $2,500 – $2,999 | 37 | 18.1% |
| $3,000 – $3,499 | 42 | 20.6% |
| $3,500 – $3,999 | 23 | 11.3% |
| $4,000 – $4,499 | 10 | 4.9% |
| $4,500 – $4,999 | 6 | 2.9% |
| $5,000+ | 7 | 3.4% |
The largest concentration of leases falls in the $2,000–$2,499 band (31.5%), reflecting the dominance of two-bedroom condo apartments across Richmond Hill. The $1,500–$1,999 band (9.8%) is driven by one-bedroom units primarily in Crosby and Harding, while the $3,000+ tier (38% combined) reflects the significant volume of detached and townhouse rentals across Westbrook, Bayview Hill, Rouge Woods, and Jefferson.
Rental Inventory by Property Type
| Property Type | Market Share |
|---|---|
| Condo Apartment | 34% |
| Detached | 29% |
| Attached Row Townhouse | 23% |
| Condo Townhouse | 8% |
| Other | 6% |
Why condo apartments dominate: Richmond Hill's rental market is driven by the substantial condo apartment inventory built along the Yonge Street corridor, Langstaff Gateway, and Highway 7 node. Condo Apartments make up 34% of all lease transactions — though detached homes (29%) and townhouses (23%) represent a larger combined share than the broader York Region average. Investors with condo product are well-positioned in this market.
Inventory, Demand & Market Balance
Supply
Inventory currently sits at 2.74 months, indicating balanced-to-tight rental availability. Balanced rental markets typically carry 3–4 months of supply. Richmond Hill's reading reflects reasonable absorption across 587 active listings.
Demand
Strong demand continues from Toronto commuters across multiple GO Transit lines, families relocating from higher-priced GTA communities, and Richmond Hill's continued population growth along the Highway 400 and 404 corridors.
Market Balance
A 52% SNLR places Richmond Hill at the balanced territory. Pricing power is moderating, with neighbourhood SNLRs ranging from 21% (Oak Ridges Lake Wilcox) to 100% (Beaver Creek Business Park), creating distinct micro-markets within the city.
12-Month Rent Trend – Richmond Hill Ontario
| Month | Avg Rent | Median Rent | Leases |
|---|---|---|---|
| February 2025 | $2,963 | $2,825 | 196 |
| March 2025 | $3,064 | $2,950 | 262 |
| April 2025 | $3,127 | $2,994 | 272 |
| May 2025 | $3,024 | $2,995 | 298 |
| June 2025 | $3,171 | $3,000 | 302 |
| July 2025 | $3,022 | $3,000 | 351 |
| August 2025 | $3,129 | $2,900 | 373 |
| September 2025 | $3,040 | $2,900 | 282 |
| October 2025 | $3,126 | $2,950 | 265 |
| November 2025 | $3,015 | $2,900 | 237 |
| December 2025 | $2,849 | $2,800 | 226 |
| January 2026 | $2,956 | $2,950 | 206 |
| February 2026 | $2,896 | $2,795 | 204 |
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 Richmond Hill, Ontario?
Commuter Access
Richmond Hill is served by Richmond Hill GO Station on the Barrie line, providing direct rail access to Union Station. The planned Yonge Street subway extension to Richmond Hill will further improve transit connectivity, with the Langstaff Gateway node as the future southern terminus.
Schools
York Region District School Board and York Catholic DSB serve Richmond Hill with multiple top-ranked schools — a primary driver of family rental demand, particularly in Bayview Hill, Jefferson, Oak Ridges, and Westbrook catchments.
Amenities
From Hillcrest Mall to the Yonge Street commercial corridor and the emerging Langstaff Gateway node, Richmond Hill offers extensive retail, dining, healthcare, and recreation options throughout the city.
Lifestyle
Richmond Hill combines established residential neighbourhoods with proximity to Highway 400 and 404 employment corridors. Green spaces including Lake Wilcox Park, Bond Lake, and the Oak Ridges Moraine Trail system make it especially popular with families and outdoor-oriented renters.
Renting Tips for Tenants in Richmond Hill
The Richmond Hill rental market moves at a moderate pace citywide, but well-priced units in Langstaff and Doncrest still attract multiple applications quickly. Being prepared before you apply significantly increases your chances.
- 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 Richmond Hill neighbourhoods like Langstaff (67% SNLR) and Devonsleigh (78% SNLR), desirable units receive multiple applications within a few days. Having your full documentation package ready before you begin touring puts you in a position to apply the same day.
Rent by Neighbourhood – Richmond Hill February 2026
Richmond Hill's rental market varies significantly across its neighbourhoods. Here's how each area performed in February 2026, based on TRREB MLS® lease data.
| Neighbourhood | Avg Rent | Median Rent | Leases | SNLR | Avg DOM | Median DOM |
|---|---|---|---|---|---|---|
| Bayview Hill | $4,750 | $4,750 | 2 | 50% | 92 | 92 |
| Beaver Creek Business Park | $2,345 | $2,240 | 4 | 100% | 58 | 65 |
| Crosby | $2,004 | $1,838 | 14 | 28% | 29 | 27 |
| Devonsleigh | $2,518 | $1,900 | 7 | 78% | 35 | 24 |
| Doncrest | $2,821 | $2,400 | 12 | 75% | 37 | 28 |
| Harding | $2,580 | $2,700 | 11 | 65% | 26 | 20 |
| Headford Business Park | $3,308 | $3,400 | 12 | 67% | 26 | 20 |
| Jefferson | $3,244 | $3,200 | 8 | 44% | 26 | 16 |
| Langstaff | $2,742 | $2,475 | 38 | 67% | 31 | 19 |
| Mill Pond | $2,727 | $2,500 | 8 | 47% | 51 | 37 |
| North Richvale | $2,586 | $2,800 | 11 | 65% | 35 | 25 |
| Oak Ridges | $2,878 | $3,015 | 12 | 48% | 46 | 41 |
| Oak Ridges Lake Wilcox | $3,223 | $3,450 | 6 | 21% | 15 | 16 |
| Observatory | $2,874 | $2,815 | 10 | 71% | 43 | 33 |
| Rouge Woods | $3,849 | $4,000 | 7 | 44% | 45 | 35 |
| Rural Richmond Hill | $2,946 | $3,225 | 22 | 45% | 34 | 21 |
| South Richvale | $3,125 | $2,400 | 14 | 67% | 39 | 20 |
| Westbrook | $4,292 | $4,050 | 6 | 50% | 32 | 34 |
| Richmond Hill Total | $2,896 | $2,795 | 204 | 52% | 35 | 26 |
Langstaff leads Richmond Hill in lease volume at 38 transactions — 19% of all city activity. The Langstaff Gateway urban growth node and proximity to Richmond Hill GO Station drive condo apartment demand from transit-oriented renters. A 67% SNLR signals landlord-favoured conditions with fast absorption.
Rural Richmond Hill has 22 transactions with a wide spread between average ($2,946) and median ($3,225) — reflecting diverse property sizes and types. The 45% SNLR gives tenants meaningful negotiating leverage. Units here skew toward larger detached and semi-detached homes, attracting family-sized renters.
South Richvale's large spread between average ($3,125) and median ($2,400) reflects a mix of smaller condos and premium detached homes. The 67% SNLR is landlord-favoured, and with 14 transactions it's an active pocket. Premium detached rentals here attract long-term family tenants seeking established neighbourhoods.
Crosby offers the lowest average rent in Richmond Hill at $2,004 and the weakest SNLR at 28%. With 50 new listings versus 14 transactions, supply well exceeds demand — a clear tenant's market within the city. Best option for budget-conscious renters who still want a Richmond Hill address.
Doncrest's 75% SNLR is among the strongest absorption rates in Richmond Hill. With 12 leases and 16 new listings, demand is absorbing supply effectively. Proximity to Highway 7 employment corridors and Doncrest's family-oriented housing stock keep demand consistent year-over-year.
Westbrook commands Richmond Hill's highest average rent at $4,292, reflecting premium detached housing stock in the northwest corridor. With only 6 transactions and a 50% SNLR, it's a thin but balanced luxury sub-market. Tenants here tend to be long-term family renters attracted by top school zones and greenspace.
Key Neighbourhood Takeaway: Langstaff (38 leases, 67% SNLR) is Richmond Hill's highest-volume landlord-favoured pocket, driven by transit access and Langstaff Gateway condo supply. Devonsleigh (78% SNLR), Doncrest (75% SNLR), and Observatory (71% SNLR) are the other standout landlord markets. At the other end, Crosby (28% SNLR) and Oak Ridges Lake Wilcox (21% SNLR) are clear tenant markets. Westbrook ($4,292) and Bayview Hill ($4,750) operate as thin luxury sub-markets with their own dynamics.
What the Data Doesn't Tell You About Renting in Richmond Hill
Market reports show you city averages. They don't show you that a well-priced two-bedroom condo in Langstaff gets four applications in two weeks, while an overpriced three-bedroom in Rural Richmond Hill sits for 60 days.
After working across Richmond Hill, here are the on-the-ground patterns I see that don't show up in the headline numbers.
"The Richmond Hill rental market in 2026 sits at a 52% SNLR on the surface — but Langstaff is a landlord market and Crosby is a tenant market. Devonsleigh is absorbing at 78% SNLR while Oak Ridges Lake Wilcox sits at 21%. Knowing your neighbourhood before you search or price makes all the difference."
— Matthew Gizzie, REALTOR® · York Region & GTAThe GO Transit Premium
Units within walking distance of a GO Station across Richmond Hill command a consistent premium of $150–$300/month. This is most pronounced near Richmond Hill GO Station (Barrie line) and the Langstaff Gateway node — the future Yonge subway extension terminus. Landlords with transit-adjacent product should price to this premium; units without GO access sit noticeably longer.
Seasonality Matters More Than People Think
February is historically one of the slowest leasing months in Richmond Hill — yet 204 transactions still occurred. Spring (April–June) is peak season, when families time moves around the school year and corporate relocations 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
Richmond Hill isn't one rental market — it's 18 distinct neighbourhoods. Langstaff is condo-driven and transit-oriented with a 67% SNLR. Westbrook and Bayview Hill are luxury detached sub-markets averaging $4,000+. Crosby offers the best value at $2,004 avg with significant tenant leverage. Knowing your target neighbourhood before you search or price makes a material difference to your outcome.
Application Quality Wins Over Price
Across Richmond Hill, 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 Langstaff and Doncrest's higher-competition market.
New Supply Is Moderating the Condo Market
New condo completions in the Langstaff Gateway corridor have added meaningful supply to the one-bedroom segment specifically — the primary driver of the 38% SNLR in one-bedrooms. 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 across Richmond Hill 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 Richmond Hill 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 Richmond Hill municipality or rental strategy? I publish this report monthly and am happy to answer directly.
Ask Matthew →Work With a Local Richmond Hill Rental Expert
Whether you are looking to rent in Richmond Hill 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 municipalities.
Richmond Hill Rental Market – FAQ
Questions real tenants, landlords, and investors are searching for right now — answered with February 2026 MLS® data.
The data presented in this report is sourced from the MLS® System and reflects lease transactions recorded in February 2026 across Richmond Hill, 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. Matthew Gizzie is a registered REALTOR® with Keller Williams Realty Centres, Brokerage.
Real Estate Websites by Web4Realty
https://web4realty.com/