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      Richmond Hill Rental Market Report

      Richmond Hill, Ontario Rent Prices — September 2026

      More Richmond Hill rentals are leasing and fewer are sitting: leases at 63% of new rental listings in September, a landlord's market, with 1.73 months of inventory. September rents were lower than a year ago.

      $2,948Average Rent
      $2,900Median Rent
      285Leases
      1.7 moInventory
      Landlord'sMarket

      Rents down 2.3% on the year

      3,339 leases were signed in the 12 months to September 2026, up 8% on the year. The 12-month average rent is $2,992, 6.0% below its June 2024 peak. Held to the same mix of unit sizes, rents are down 3.2%.

      Market phase: Cooling, landlords in control. Four of seven signals are hotter than a year ago and two cooler.

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

      At a Glance

      Richmond Hill Rental Market — September 2026 At a Glance

      September 2026 against Sep 2025: 285 leases against 282, 449 new rental listings against 516, and 493 units on the market against 649. Average rent was $2,948 against $3,040. For the bigger picture see the Richmond Hill 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
      $2,948
      ▼ 3.0% vs Sep 2025 ($3,040)
      Sep 2021: $2,56612-mo avg now: $2,992
      Median Rent
      $2,900
      ■ 0.0% vs Sep 2025 ($2,900)
      Sep 2021: $2,45412-mo avg now: $2,902
      Leases Signed
      285
      ▲ 1.1% vs Sep 2025 (282)
      Sep 2021: 21112-mo avg now: 278
      Leases-to-New-Listings Ratio
      63%
      55% a year earlier · over 60% favours landlords
      Sep 2021: 69%12-mo avg now: 61%
      Months of Inventory
      1.73
      2.30 a year earlier
      Sep 2021: 1.1212-mo avg now: 2.29
      Median Days to Lease
      16
      22 a year earlier · average 24
      Sep 2021: 1312-mo avg now: 22
      Rent Achieved vs Asking
      100%
      99% a year earlier · average lease against list
      Sep 2021: 100%12-mo avg now: 99%
      New Rental Listings
      449
      ▼ 13.0% vs Sep 2025 (516)
      Sep 2021: 30512-mo avg now: 457
      Active Rental Listings
      493
      ▼ 24.0% vs Sep 2025 (649)
      Sep 2021: 22712-mo avg now: 612
      September Summary: 285 leases, up 1.1% on Sep 2025. Average rent $2,948 and median $2,900, flat 0.0% on the median. Leases equalled 63% of new listings against 55% a year earlier, and inventory fell from 2.30 to 1.73 months. The typical unit leased in 16 days, at 100% 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): 57 leases, 150 new rental listings, 521 active. Metrics may be revised.
      Market Conditions

      Is Richmond Hill 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% 63% Landlord's market leases-to-new-listings · Sep 2026
      Sep 202663%Landlord's market
      Last 3 months66%Landlord's market
      Last 12 months61%Landlord's market
      Behind the reading
      285LeasesSep 2026
      449New listingsSep 2026
      1.61Months of inventory3-month measure
      16Days to leaseMedian, Sep 2026
      100%Rent vs askingAverage, Sep 2026
      108Listings 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 62%.

      Market Phase
      Cooling, landlords in control

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

      Leases signed, last 3 months
      931 vs 1,006 a year ago
      −7.5%Cooler
      New rental listings, last 3 months
      1,414 vs 1,721 a year ago
      −17.8%Hotter
      Leases-to-new-listings ratio
      66% vs 58% a year ago
      +7 ptsHotter
      Months of rental inventory, three-month
      1.61 vs 1.96 a year ago
      −0.35Hotter
      Active rental listings
      493 vs 649 a year ago
      −24.0%Hotter
      Average rent, last 3 months
      $2,984 vs $3,067 a year ago
      −2.7%Cooler
      Rent achieved against asking
      99.3% 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 down 7%, new listings down 18% and active listings down 24%, while rent was down 2.7%. Fewer units are coming to market, but rents have not followed yet. Over 12 months leases equalled 61% of new listings: a landlord's market, below the 62% median since 2010.
      Leases-to-new-listings ratio — 12-month rolling, since 2010
      TenantsBalancedLandlords0%20%40%60%80%100%2013201620192022202561%
      TenantsBalancedLandlords0%20%40%60%80%100%2016202261%

      Leases equalled 61% of new rental listings over the last 12 months, against 56% a year earlier. The median since 2010 is 62%.

      Months of rental inventory
      MonthlyThree-month
      0.001.002.003.004.005.0020122016202020241.731.61
      0.001.002.003.004.005.002010201620221.731.61

      1.61 months on the three-month measure, against 1.96 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 2026495560616873686663 2025405360595560586255534966 2024495466716672647054476059 2023686673868877897271564967 2022688285816966636761605154 2021588277877961646066636170 2020587870676862736262706872 2019747175827973757170646367 2018466470736573738664566677 2017605369797877635856545069 2016455676707576596562624655 2015496571805962596352464857 2014424662686665477143514346 2013436568567458696157555556 2012565683567270666055564545 2011533556706879655867455160 2010596166884659626853537357
      Under 40% (tenant's)40 to 50%50 to 55%55 to 60%60 to 70%70 to 85%85% and over

      When Richmond Hill Leases — Average Leases by Month, 2021 to 2025

      189
      Jan
      190
      Feb
      240
      Mar
      245
      Apr
      270
      May
      258
      Jun
      291
      Jul
      291
      Aug
      253
      Sep
      219
      Oct
      203
      Nov
      182
      Dec

      ■ Busiest month | Average of the five full calendar years. July averages 291 leases; December averages 182.

      Best placed: owners of 4-bedroom homes (leases at 68% of new listings over 12 months) and of condo apartments (76%), where supply is thinnest. Under the most pressure: 1-bedroom landlords. Their 12-month rent is down 5.7%, the biggest drop of any size, and leases were 60% of their new listings, against 55% 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 Richmond Hill rental or weighing a lease? Get the numbers for your exact unit.

      Get a Rental Price Check →
      Rent by Bedroom

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

      The biggest drop is 1-bedroom units: $2,132 on a 12-month average, −5.7%. In September alone, 1-bedroom units averaged $2,129 against $2,225 a year earlier.

      1-Bedroom
      $2,132 /mo
      12-month average · −5.7% on the year · −11.7% from peak
      892 leases
      60% leases-to-listings
      124 active
      15 days to lease
      September: $2,129 avg · $2,263 median82 leases · $2,225 avg a year earlier
      Landlord-leaning
      2-Bedroom
      $2,629 /mo
      12-month average · −1.6% on the year · −6.9% from peak
      847 leases
      55% leases-to-listings
      177 active
      20 days to lease
      September: $2,630 avg · $2,800 median78 leases · $2,652 avg a year earlier
      Balanced
      3-Bedroom
      $3,311 /mo
      12-month average · −3.0% on the year · −6.1% from peak
      891 leases
      67% leases-to-listings
      111 active
      16 days to lease
      September: $3,422 avg · $3,425 median80 leases · $3,313 avg a year earlier
      Landlord-leaning
      4-Bedroom
      $4,136 /mo
      12-month average · −2.1% on the year · −8.4% from peak
      613 leases
      68% leases-to-listings
      64 active
      17 days to lease
      September: $4,297 avg · $4,075 median36 leases · $4,111 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$4,500$5,00020122014201620182020202220242026$4,136$3,311$2,629$2,132
      $1,000$1,500$2,000$2,500$3,000$3,500$4,000$4,500$5,00020162022$4,136$3,311$2,629$2,132

      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 bedroom89227%$2,132−5.7%−11.7%Apr 202460%12415
      2 bedroom84725%$2,629−1.6%−6.9%Jul 202455%17720
      3 bedroom89127%$3,311−3.0%−6.1%Jun 202467%11116
      4 bedroom61318%$4,136−2.1%−8.4%Jul 202468%6417

      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

      Richmond Hill Rent by Home Type — Houses, Townhouses & Condos

      Detached houses are 30% of all Richmond Hill leases over 12 months, at $3,344 a month, down 4.0% on the year. Semi-detached homes had the biggest drop, −7.0% on 155 leases. Condo apartments had the highest leases-to-new-listings ratio, 76%, at an average of $2,578. Compare by bedroom count as well as type.

      Detached
      $3,344 /mo
      12-month average · −4.0% on the year · −5.5% from peak
      1,004 leases
      30% of all leases
      48% leases-to-listings
      2.73 months inventory
      Balanced
      Semi-detached
      $2,685 /mo
      12-month average · −7.0% on the year · −19.0% from peak
      155 leases
      5% of all leases
      48% leases-to-listings
      2.74 months inventory
      Balanced
      Row townhouse
      $3,369 /mo
      12-month average · −3.1% on the year · −6.1% from peak
      664 leases
      20% of all leases
      71% leases-to-listings
      1.01 months inventory
      Landlord-leaning
      Condo townhouse
      $2,930 /mo
      12-month average · −2.1% on the year · −8.6% from peak
      277 leases
      8% of all leases
      68% leases-to-listings
      1.50 months inventory
      Landlord-leaning
      Condo apartment
      $2,578 /mo
      12-month average · −2.1% on the year · −7.8% from peak
      1,125 leases
      34% of all leases
      76% leases-to-listings
      0.70 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$3,500$4,00020122014201620182020202220242026$3,369$3,344$2,930$2,685$2,578
      $1,000$1,500$2,000$2,500$3,000$3,500$4,00020162022$3,369$3,344$2,930$2,685$2,578

      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 homes3,339100%$2,992−2.3%−6.0%61%4931.61
      Detached1,00430%$3,344−4.0%−5.5%48%2542.73
      Semi-detached1555%$2,685−7.0%−19.0%48%422.74
      Row townhouse66420%$3,369−3.1%−6.1%71%541.01
      Condo townhouse2778%$2,930−2.1%−8.6%68%441.50
      Condo apartment1,12534%$2,578−2.1%−7.8%76%730.70

      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

      Richmond Hill Rent vs Nearby Towns — September 2026

      On the all-homes average, Richmond Hill is the highest of 9 nearby towns at $2,992. That reflects bigger units, not dearer ones: by 2-bedroom rent it ranks third-highest. Like for like, a 2-bedroom averages $2,629, within 1% of Markham's $2,649 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 Richmond Hill? September 2026 Playbook

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

      Leases equalled 63% of new rental listings in September and inventory is 1.73 months. Rent is down 2.7% over three months, and leases over the past year equalled 61% 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 3.2% like for like
      1
      Budget by bedroom count12-month averages: 1-bedroom $2,132, 2-bedroom $2,629, 3-bedroom $3,311, 4-bedroom $4,136.
      2
      Have your file ready before you tourThe median listing leased in 16 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 55% 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
      63% leases-to-listings
      1
      Price to this year, not last year12-month rent is 6.0% under the June 2024 peak. Leases over 12 months equalled 61% of new listings.
      2
      Use your bedroom count's number1-bed $2,132 · 2-bed $2,629 · 3-bed $3,311 · 4-bed $4,136, 12-month averages.
      3
      Watch the first two weeksThe median unit leased in 16 days in September, at 100% 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

      3,339
      leases signed in the last 12 months, up 8% from 3,092
      Leases are up 8% on the year and inventory is 1.61 months; rents are down like for like. Underwrite on today's rent by bedroom count, not on the 2024 peak.
      Rental inventorythree-month measure
      1.61 mo
      12-month average rentfrom the 2024 peak
      −6.0%
      Rent vs askingaverage, Sep 2026
      100%
      Run your numbers →

      Before You Apply

      16 days
      median time a Richmond Hill 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?

      $2,629
      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
      $3,311
      4-bedroom rent12-month average
      $4,136
      Detached house rent12-month average
      $3,344
      Rent vs own calculator →

      Richmond Hill sales market report →

      Location Guide

      Why Rent in Richmond Hill, Ontario?

      Commuter Access

      Richmond Hill is served by Richmond Hill GO Station, 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.

      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 in Richmond Hill 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 Richmond Hill Rental Expert

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

      Frequently Asked Questions

      Richmond Hill Rental Market FAQ — Rent Prices, Leasing & Tenant Questions

      Rent Prices

      How much is rent in Richmond Hill, Ontario in 2026? +
      The average rent in Richmond Hill was $2,948 a month in September 2026, and the median was $2,900. Over the last 12 months the average was $2,992. By bedroom count, 12-month averages: 1-bedroom $2,132, 2-bedroom $2,629, 3-bedroom $3,311, 4-bedroom $4,136. Source: HabiStat MLS® statistics, all associations.
      How much is a 1-bedroom apartment in Richmond Hill? +
      A 1-bedroom rental in Richmond Hill averaged $2,132 a month over the 12 months to September 2026, −5.7% on the year. In September alone, 1-bedroom leases numbered 82, at an average of $2,129 and a median of $2,263.
      How much is a 2-bedroom apartment in Richmond Hill? +
      A 2-bedroom rental averaged $2,629 a month over the 12 months to September 2026, −1.6% on the year. In September, 2-bedroom leases numbered 78, at an average of $2,630 and a median of $2,800.
      How much does it cost to rent a house in Richmond Hill? +
      Detached houses leased for an average of $3,344 a month over the last 12 months and made up 30% of all Richmond Hill leases. By size, 3-bedroom units of every type averaged $3,311 and 4-bedroom units $4,136.
      Are rents going up or down in Richmond Hill? +
      Down on the headline: the 12-month average rent is $2,992, −2.3% on the year and 6.0% below its June 2024 peak. Like for like, rents are down 3.2%. By size: 1-bedroom −5.7%, 2-bedroom −1.6%, 3-bedroom −3.0%, 4-bedroom −2.1%.
      Is Richmond Hill cheaper to rent than Markham or Vaughan? +
      Like for like, only just. Over the 12 months to September 2026, a 2-bedroom averaged $2,629 in Richmond Hill, against $2,649 in Markham and $2,640 in Vaughan. Across all homes, Richmond Hill's average of $2,992 is the highest of the 9 towns we track, against $2,820 in Markham and $2,657 in Vaughan.

      Market Conditions

      Is Richmond Hill a landlord's or tenant's market? +
      A landlord's market by the numbers. Leases equalled 61% of new rental listings over the last 12 months and 63% in September; under 40% favours tenants and over 60% favours landlords. Inventory is 1.73 months. Like-for-like rent is down 3.2% on the year, so landlords have tenants but not pricing power.
      Can I negotiate rent in Richmond Hill? +
      On some units. Leases over the last 12 months equalled 61% of new rental listings, and 2-bedroom units had the lowest leases-to-new-listings ratio at 55%. Units that have sat past the 16-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 Richmond Hill? +
      The median rental listing leased in 16 days in September 2026; the average was 24 days. By size over recent months: 1-bedroom 15 days, 2-bedroom 20 days, 3-bedroom 16 days, 4-bedroom 17 days.
      When is the busiest time to rent in Richmond Hill? +
      Over 2021 to 2025, July averaged the most leases (291) and December the fewest (182). Searching in the quieter winter months means fewer tenants competing for each unit.

      Tenant & Landlord Questions

      What documents do I need to rent in Richmond Hill? +
      Standard Richmond Hill 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 Richmond Hill? +
      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 Richmond Hill 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 Richmond Hill. Renting an illegal unit can expose tenants to safety risks and complicate disputes under the Residential Tenancies Act.
      Does rent control apply in Richmond Hill? +
      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 Richmond Hill fall outside it. Confirm the first-occupancy date before signing if this matters to you.
      How much can I charge for rent in Richmond Hill? +
      Start from your unit's bedroom count. Over the 12 months to September 2026: 1-bedroom $2,132, 2-bedroom $2,629, 3-bedroom $3,311, 4-bedroom $4,136. Units leased at 100% of asking on average in September, so the listed rent is close to what you will get: set it right at the start.
      Is Richmond Hill a good place to invest in rental property? +
      Demand is growing: 3,339 leases in 12 months, up 8% on the year, leases at 61% of new listings and 1.61 months of inventory. The 12-month average rent is 6.0% below its June 2024 peak. Run your numbers on today's rent, with the investment deal analyzer, and check purchase prices in the Richmond Hill sales market report.
      Is Richmond Hill a good place to live for Toronto commuters? +
      Richmond Hill GO Station provides rail access to Union Station, and the planned Yonge subway extension will add a further link. A 2-bedroom here averages within 1% of Markham over the last 12 months.
      Explore More

      Related Reports & Resources

      Sales Market
      Richmond Hill Real Estate Market 2026 →
      Rental
      York Region Rental Market Report →
      Rental
      Aurora 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 Richmond Hill, 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.

      Mis-keyed lease records: in January 2010 and October 2010, the MLS® data holds lease values far above any rent, most likely sale prices or extra zeros (a property type or bedroom count whose average was more than 2.2 times its median). Those records are counted at that month's median rent, and the excess is taken out of the all-homes figure. Lease counts are unchanged. Left in, they would set a false rent peak.

      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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      Listing Data were last updated: 2026-11-03 02:56:26

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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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