Pickering · Durham Region

Mortgages in Pickering, compared across lenders

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

We help Pickering households buy, renew and refinance with banks, credit unions, trust companies and monoline lenders. In September 2026 the median Pickering sale was $817,500, across 92 sales (TRREB, checked October 2026). Every mortgage is subject to lender approval; we arrange mortgages for properties in Ontario only.

Pickering in numbers

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

Home sales, September 2026

Median sale price: $817,500
Average sale price: $893,842
Sales: 92
Months of inventory: 3.7

Months of inventory is how long the homes listed for sale would take to sell at the recent pace of sales. Detached homes: 50 sales, median $1,035,000. January to September 2026: 946 sales, median $855,975.

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

Residential property tax rate, 2026

Total rate: 1.337288%

Made up of City 0.403528% + Durham Region 0.780760% + 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 Pickering, 2026 Tax Rates, 2026 rate sheet, dated 10 June 2026. 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: 85.2%
Median household income (2020): $118,000

City of Pickering (census subdivision 3518001): 33,425 households, population 99,186. Income is for 2020, the year before the census.

Source: Statistics Canada, 2021 Census of Population, Census Profile, City of Pickering (census subdivision 3518001). Checked October 2026.

GO Lakeshore East line to Union Station

Scheduled time: 46 min

GO train stations: Pickering. The time is for the weekday 6:26 and 7:21 a.m. trains.

Source: GO Transit schedule, table 09 (Lakeshore East line), effective 5 and 8 September 2026. Checked October 2026.

What's different about borrowing in Pickering

Pickering borders Scarborough but is in Durham Region, so a purchase here pays Ontario's land transfer tax only. The same price on the Toronto side pays both, and our land transfer tax calculator shows the difference.
Pickering's 2026 residential property tax rate is 1.337288% of the home's assessed value, counting the City, Durham Region and education parts (City of Pickering, 2026 Tax Rates, 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 Pickering, 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, 85.2% of households in the City of Pickering owned their home, and the median household income in 2020 was $118,000 (Statistics Canada, checked October 2026).
The GO Lakeshore East line stops at Pickering. Weekday morning trains from Pickering are scheduled to reach Union Station in 46 minutes (GO schedule effective 5 and 8 September 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 Pickering

We help Pickering 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.

On a new build, the lender approves the mortgage near closing rather than at signing. 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 Pickering borrowers

Is land transfer tax lower in Pickering than in Scarborough?

On the same price, yes. Pickering is in Durham Region, so you pay Ontario's land transfer tax only. Scarborough is in the City of Toronto, where the municipal tax is added.

Illustrative, not a quote: on the September 2026 median Pickering sale of $817,500, Ontario's tax is $12,825, or $8,825 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 $417,500 is $8,350.

Your lawyer works out the exact amount at closing.

How is a new-build home in Pickering financed?

The lender approves the mortgage near closing, on your income then and its value of the finished home. If the value comes in below the price, you cover the gap, so we plan for that early.

Can I get pre-approved before I start looking in Pickering?

Yes. A pre-approval gives you a price range and usually holds a rate for a set period, subject to lender approval of the home and your final documents.

Nearby: Ajax · Scarborough · Markham

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

Sources

TRREB, GTA Market Watch, September 2026, checked October 2026.
City of Pickering, 2026 Tax Rates, 2026 tax year, checked October 2026.
CMHC Rental Market Survey, Table 1.0, published 11 December 2025, October 2025, checked October 2026.
Statistics Canada, 2021 Census of Population, Census Profile, City of Pickering (census subdivision 3518001), 2021 Census, checked October 2026.
GO Transit schedule, table 09 (Lakeshore East line), schedule effective 5 and 8 September 2026, checked October 2026.
Ontario, Calculating land transfer tax, page updated 22 April 2026, checked October 2026.
Ontario, Land transfer tax refunds for first-time homebuyers, page updated 10 February 2026, checked October 2026.
CMHC, Calculating GDS and TDS, debt-service rules for insured mortgages, checked October 2026.
Land transfer tax example: our arithmetic, Ontario's brackets applied to the TRREB September 2026 median, less the $4,000 first-time buyer refund, checked October 2026.

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Talk to a broker about your Pickering 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.

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