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Richmond Hill · York Region

Mortgages in Richmond Hill, compared across lenders

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

Our office is in Richmond Hill, and we help local households buy, renew and refinance with banks, credit unions, trust companies and monoline lenders. In September 2026 the median Richmond Hill sale was $1,079,000, across 172 sales (TRREB, checked October 2026). Every mortgage is subject to lender approval; we arrange mortgages for properties in Ontario only.

Richmond Hill in numbers

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

Home sales, September 2026

Median sale price
$1,079,000
Average sale price
$1,189,203
Sales
172
Months of inventory
5.6

Months of inventory is how long the homes listed for sale would take to sell at the recent pace of sales. Detached homes: 84 sales, median $1,438,500. January to September 2026: 1,524 sales, median $1,105,000.

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

Residential property tax rate, 2026

Total rate
0.760104%

Made up of City 0.214692% + 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 Richmond Hill, Tax Rates page, 2026 summary schedule, 2026 summary schedule (the City rate is also in By-law 46-26, Schedule 1). 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
78.2%
Median household income (2020)
$102,000

Town of Richmond Hill (census subdivision 3519038): 69,315 households, population 202,022. Income is for 2020, the year before the census.

Source: Statistics Canada, 2021 Census of Population, Census Profile, Town of Richmond Hill (census subdivision 3519038). Checked October 2026.

GO Richmond Hill line to Union Station

Scheduled time
50 min

GO train stations: Bloomington, Gormley and Richmond Hill. The time is for the weekday 7:10 and 7:40 a.m. trains from Richmond Hill station.

Source: GO Transit schedule, table 61 (Richmond Hill line), effective 25 April 2026. Checked October 2026.

What's different about borrowing in Richmond Hill

  • Richmond Hill is in York Region, so a purchase here pays Ontario's land transfer tax only. Our land transfer tax calculator shows the amount and the first-time buyer refund.
  • Richmond Hill's 2026 residential property tax rate is 0.760104% of the home's assessed value, counting the City, York Region and education parts (City of Richmond Hill, Tax Rates page, 2026 summary schedule, 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 Richmond Hill, 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, 78.2% of households in the Town of Richmond Hill owned their home, and the median household income in 2020 was $102,000 (Statistics Canada, checked October 2026).
  • The GO Richmond Hill line stops at Bloomington, Gormley and Richmond Hill. Weekday morning trains from Richmond Hill station are scheduled to reach Union Station in 50 minutes (GO schedule effective 25 April 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 Richmond Hill

We help Richmond Hill 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.

A townhouse can be freehold or part of a condominium corporation, which changes what the lender reviews. 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 Richmond Hill borrowers

Where is your office?

Our office is in Richmond Hill; the address is on our contact page. Most borrowers work with us by phone and online, wherever they are in Ontario.

Do I pay Toronto's land transfer tax in Richmond Hill?

No. Richmond Hill is in York Region, so you pay Ontario's land transfer tax only, and first-time buyers may qualify for a refund of part of it.

Illustrative, not a quote: on the September 2026 median Richmond Hill sale of $1,079,000, Ontario's tax is $18,055, or $14,055 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 $679,000 is $13,580.

Your lawyer works out the exact amount at closing.

Can I get pre-approved before I start looking in Richmond Hill?

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

Nearby: Vaughan · Markham · Aurora · North York

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 Richmond Hill 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.