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May 2025 · Richmond Hill
Average Rent in Richmond Hill — May 2025
262 confirmed residential leases in Richmond Hill in May 2025. Average rent $3,013/month. Mixed conditions across property types.
Avg Lease Price $3,013/mo
Median Lease $2,900/mo
Avg Asking $3,044/mo
Lease / Ask 99.0%
Leased Over Asking 8.4%
Avg DOM 46 days
Total Leased
262
all residential
Avg Lease Price
$3,013
per month
Median Lease
$2,900
mid-point
Lease / Ask
99.0%
avg ratio
Over Asking
8.4%
of all leases
Avg DOM
46
days on market
Lease Prices by Property Type
Richmond Hill · May 2025
💰 Lease Price Summary
Average Lease $3,013/mo
Median Lease $2,900/mo
Avg Asking Rent $3,044/mo
Lowest Lease $1,200
Highest Lease $7,000
Lease / Ask Ratio 99.0%
📊 Market Activity
Leased over asking 8.4%
Leased at asking 61.1%
Leased under asking 30.5%
Avg Days on Market 46 days
Fast · 050Slow · 100+
⚖️ Balanced — 8.4% over vs 30.5% under asking.
💰 Lease Price Summary
Average Lease $2,716/mo
Median Lease $2,600/mo
Avg Asking Rent $2,742/mo
Lowest Lease $1,200
Highest Lease $4,500
Lease / Ask Ratio 99.1%
📊 Market Activity
Leased over asking 5.3%
Leased at asking 63.9%
Leased under asking 30.8%
Avg Days on Market 41 days
Fast · 050Slow · 100+
⚖️ Balanced — 5.3% over vs 30.8% under asking.
💰 Lease Price Summary
Average Lease $3,324/mo
Median Lease $3,050/mo
Avg Asking Rent $3,371/mo
Lowest Lease $1,400
Highest Lease $7,000
Lease / Ask Ratio 98.6%
📊 Market Activity
Leased over asking 13.8%
Leased at asking 56.3%
Leased under asking 30.0%
Avg Days on Market 51 days
Fast · 050Slow · 100+
⚖️ Balanced — 13.8% over vs 30% under asking.
💰 Lease Price Summary
Average Lease $3,267/mo
Median Lease $3,400/mo
Avg Asking Rent $3,287/mo
Lowest Lease $1,200
Highest Lease $4,200
Lease / Ask Ratio 99.4%
📊 Market Activity
Leased over asking 9.0%
Leased at asking 62.7%
Leased under asking 28.4%
Avg Days on Market 49 days
Fast · 050Slow · 100+
⚖️ Balanced — 9% over vs 28.4% under asking.
💰 Lease Price Summary
Average Lease $2,100/mo
Median Lease $2,000/mo
Avg Asking Rent $2,112/mo
Lowest Lease $1,900
Highest Lease $2,500
Lease / Ask Ratio 99.4%
📊 Market Activity
Leased over asking 0.0%
Leased at asking 75.0%
Leased under asking 25.0%
Avg Days on Market 49 days
Fast · 050Slow · 100+
⚖️ Balanced — 0% over vs 25% under asking.
Nearby Cities · May 2025
Average confirmed lease price across all residential property types
| City | Avg Lease | Median | Lease / Ask | DOM | Market |
|---|---|---|---|---|---|
| Markham | $2,930 | $2,800 | 98.9% | 43d | ⚖️ Balanced |
| Vaughan | $2,658 | $2,450 | 99.9% | 40d | ⚖️ Balanced |
| Aurora | $2,753 | $2,800 | 98.4% | 48d | ⚖️ Balanced |
| Newmarket | $2,681 | $2,750 | 99.9% | 45d | ⚖️ Balanced |
| Toronto | $2,761 | $2,545 | 99.3% | 44d | ⚖️ Balanced |
| Whitchurch Stouffville | $2,643 | $2,850 | 100.1% | 56d | ⚖️ Balanced |
Frequently Asked Questions
Richmond Hill · May 2025
The average confirmed lease in Richmond Hill was $3,013/month in May 2025,
based on 262 MLS® transactions. The median was
$2,900/month.
Condos averaged $2,716/mo, freehold averaged $3,324/mo, and townhouses averaged $3,267/mo.
Units in Richmond Hill took an average of 46 days to lease in May 2025.
Freehold rentals averaged 51 days while condos averaged 41 days.
In May 2025, condos averaged $2,716/month while freehold rentals averaged $3,324/month —
a difference of $608/month.
Richmond Hill averaged $3,013/month in May 2025. Markham averaged $2,930/mo. See the full May 2025 Ontario lease summary →
Looking to rent in Richmond Hill?
Browse available rentals or connect with a local agent who knows the rental market.
Data note: Based on MLS® confirmed lease transaction data held in our system for Richmond Hill, Ontario. Not official TRREB or CREA data. For general research only — consult a licensed real estate professional before making tenancy decisions.
