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Markham · York Region

Mortgages in Markham, compared across lenders

We compare banks, credit unions and monoline lenders for your Markham purchase, renewal or refinance, and explain the trade-offs in plain English.

We help Markham households buy, renew and refinance by comparing banks, credit unions, trust companies and monoline lenders. In September 2026 the median Markham sale was $1,051,000, across 245 sales (TRREB, checked October 2026). Every mortgage is subject to lender approval; we arrange mortgages for properties in Ontario only.

Markham in numbers

These are the latest published figures we could check for Markham, each with its source and date. They describe the market, not your mortgage.

Home sales, September 2026

Median sale price
$1,051,000
Average sale price
$1,125,353
Sales
245
Months of inventory
4.1

Months of inventory is how long the homes listed for sale would take to sell at the recent pace of sales. Detached homes: 108 sales, median $1,381,500. January to September 2026: 2,293 sales, median $1,085,000.

Source: TRREB, GTA Market Watch, September 2026, Markham row, all home types. Checked October 2026.

Residential property tax rate, 2026

Total rate
0.722889%

Made up of City 0.177477% + York Region 0.392412% + education 0.153000%. The rate applies to the assessed value set by MPAC (the Municipal Property Assessment Corporation), not to the price you pay.

Source: City of Markham, About Your Tax Bill, 2026 tax rates table, 2026 tax rates table (the same figures are in the 2026 Final Tax Brochure). Checked October 2026.

Renting, October 2025

Average two-bedroom rent
$2,046 a month
Vacancy rate
3.0%

A year earlier the rent was $1,974 and vacancy 2.5%. The survey covers purpose-built rental apartments in private buildings of three or more units.

Source: CMHC Rental Market Survey, Table 1.0, published 11 December 2025, Toronto CMA (census metropolitan area). Checked October 2026.

Households, 2021 Census

Households that own
81.7%
Median household income (2020)
$104,000

City of Markham (census subdivision 3519036): 110,865 households, population 338,503. Income is for 2020, the year before the census.

Source: Statistics Canada, 2021 Census of Population, Census Profile, City of Markham (census subdivision 3519036). Checked October 2026.

GO Stouffville line to Union Station

Scheduled time
43 min

GO train stations: Mount Joy, Markham, Centennial and Unionville. The time is for the weekday 6:37 and 7:07 a.m. trains from Unionville. From Markham station it is 53 min.

Source: GO Transit schedule, table 71 (Stouffville line), effective 26 October 2026. Checked October 2026.

What's different about borrowing in Markham

  • Markham borders Toronto, so a buyer comparing homes on both sides of the city line sees a tax difference. Markham pays Ontario's land transfer tax only, and our land transfer tax calculator shows both cases.
  • Markham's 2026 residential property tax rate is 0.722889% of the home's assessed value, counting the City, York Region and education parts (City of Markham, About Your Tax Bill, 2026 tax rates table, checked October 2026). MPAC sets the assessed value, and it is not the price you pay, so ask for the seller's current tax bill. Lenders count property tax in the housing costs they qualify you on (CMHC debt-service rules, checked October 2026).
  • A two-bedroom apartment in the Toronto census metropolitan area (CMA), which includes Markham, rented for $2,046 a month on average in October 2025, up from $1,974 a year earlier (CMHC, checked October 2026). Vacancy was 3.0%. If you rent now, set that rent against a mortgage payment plus property tax, heat and upkeep.
  • In the 2021 Census, 81.7% of households in the City of Markham owned their home, and the median household income in 2020 was $104,000 (Statistics Canada, checked October 2026).
  • The GO Stouffville line stops at Mount Joy, Markham, Centennial and Unionville. Weekday morning trains from Unionville are scheduled to reach Union Station in 43 minutes, and trains from Markham station in 53 minutes (GO schedule effective 26 October 2026, checked October 2026). If you will commute, put the fare in your budget next to the mortgage payment.

Outside Toronto you pay Ontario's land transfer tax only — work it out with the land transfer tax calculator. Also useful: Ontario closing costs · down payment rules.

Who we help in Markham

We help Markham households buy a first home, move up, renew or refinance. We compare banks, credit unions and monoline lenders (lenders that only do mortgages and work through brokers) first.

If you are self-employed, some lenders look at business income more broadly than your tax return shows. Alternative lenders are the next step when a bank's rules don't fit, at a higher cost. Private money is a short bridge only, and we explain its cost first.

Questions from Markham borrowers

Is a condo townhouse financed differently from a freehold one?

Yes. With a condo townhouse, lenders count half of the monthly fees as a housing cost and review the status certificate. A freehold townhouse has no condo fees, but you pay for all of its upkeep yourself.

Do I pay Toronto's land transfer tax in Markham?

No. Markham is in York Region, so you pay Ontario's land transfer tax only.

Illustrative, not a quote: on the September 2026 median Markham sale of $1,051,000, Ontario's tax is $17,495, or $13,495 if you qualify for the full $4,000 first-time buyer refund (TRREB median and ontario.ca brackets, checked October 2026).

This is our arithmetic. 0.5% of the first $55,000 is $275, and 1% of the next $195,000 is $1,950. Then 1.5% of the next $150,000 is $2,250, and 2% of the last $651,000 is $13,020.

Your lawyer works out the exact amount at closing.

Can I work with you if I live in Markham?

Yes. We work with borrowers across Ontario by phone and online, and our office is nearby in Richmond Hill.

Nearby: Richmond Hill · Scarborough · North York · Pickering

General information for Ontario borrowers, not advice. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722.

Sources

No cost to talk

Talk to a broker about your Markham mortgage

Tell us what you're planning for a home in Ontario and a good number to reach you. We call back within one business day, usually sooner. We ask for documents only once we know which ones your mortgage needs.

You can also call us at (416) 371-2077.

What are you looking to do?
Roughly how large is the mortgage?

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We use these details to call you back about your mortgage, and store them in Canada. If we introduce you to a partner broker, we tell you first and share only what you have given us here. See our privacy policy. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722. A pre-approval or quote is subject to lender approval.