Markham condo rents fall 1.9%, but affordability concerns persist in York Region and beyond

Condominium rents in Markham fell 1.9 per cent over the past year, but York Region housing advocates say the modest decline is unlikely to make homes more affordable for low-income residents.

According to Valery’s November 2026 GTA Rental Market Report, the average monthly condo rent in Markham was $2,553 between August and October, down 1.9 per cent from the same period last year.

The figures are based on 624 completed condo leases.

Within Markham, Unionville recorded a 1.1 per cent decline to $2,563 across 401 leases, while Commerce Valley saw a 0.7 per cent increase to $2,552 across 64 leases.

Despite the declines, Blue Door CEO Debbie Schatia said the rents remain unaffordable for the people her organization serves. 

“Unfortunately, these declines do not make housing more accessible for low-income residents or people experiencing housing insecurity,” Schatia said in a written response to YorkRegion.com.

She illustrated the affordability gap using Ontario’s minimum wage, which increased to $17.95 an hour on Oct. 1.

A person working 40 hours a week at minimum wage would earn $37,336 annually before taxes, or approximately $31,100 after taxes, according to Schatia’s estimate.

At $2,401 a month, the average condo rent recorded in Vaughan, that worker would spend $28,812 annually on housing, leaving approximately $191 a month for food, utilities and other necessities.

For many people receiving Ontario Works or Ontario Disability Support Program benefits, Schatia said, the financial barriers are even greater.

She identified more affordable rental rates of approximately $1,490 for a one-bedroom unit and $1,763 for a two-bedroom unit as closer to what many Blue Door service users need.

Across York Region, the average monthly condo rent was $2,478 in October, down 1.1 per cent year-over-year.

Richmond Hill recorded a 1.3 per cent decline to $2,601 between August and October, based on 266 leases.

Vaughan moved in the opposite direction, with average rents increasing 1.2 per cent to $2,401 across 1,015 leases.

Elsewhere in the GTA, average rents fell 0.4 per cent in Toronto and 6.6 per cent in Milton, while Mississauga and Oakville recorded modest increases.

Separate research from Valery found that six in 10 GTA condos leased again over the previous year rented for less than the previous tenants paid.

However, the Social Planning Council of York Region said the declines were unlikely to significantly improve housing affordability for lower-income residents.

“The amounts are still out of reach for folks experiencing poverty or low-moderate income,” a representative said, adding that the reductions may benefit some middle-income single renters.

According to York Region’s 2024 Health and Well-Being Review, 46.7 per cent of renter households spent at least 30 per cent of their before-tax income on shelter costs in 2021.

The region also reported that more than 22,000 households were waiting for subsidized housing at the end of 2025, with the average wait for a community housing unit reaching 10 years.

The Social Planning Council called for stronger rent controls, a vacant homes tax and municipal bylaws addressing renovictions.

Under Ontario’s current rules, most rental units first occupied after Nov. 15, 2018, are exempt from annual rent increase guidelines.

Schatia, meanwhile, said rental subsidies, support services and affordable rents are among the measures that have proven most effective in helping residents secure and maintain housing.

York Region approved a new 10-year housing and homelessness plan in June, outlining measures to increase affordable housing supply and strengthen homelessness prevention.

Valery’s figures cover condo apartments leased through the MLS system and do not represent the entire rental market.

Copyright 2026, Markham Economist & Sun. All rights reserved.

Gary Ka Ho Wong, Local Journalism Initiative Reporter, Markham Economist & Sun.