Renting in
Downtown Richmond Hill.
York Region's Yonge Street hub — the future subway extension, Hillcrest Mall, and a walkable core that's becoming one of the 905's most transit-promising addresses. If you're looking to rent in Downtown Richmond Hill, this is where transit believers and families find real value before the subway changes everything.
Downtown Richmond Hill is the Yonge Street corridor through the heart of Richmond Hill — and it's in the middle of a slow-motion transformation. The area has long been a mix of older low-rise apartments, strip-mall retail, and family homes, but new condo and mid-rise developments are changing the streetscape along Yonge, bringing density, walkability, and a growing urban energy that's rare in York Region.
The anchor is Hillcrest Mall at Yonge and Carrville/16th Avenue, surrounded by restaurants, services, and newer residential towers. Just north, the Richmond Hill Centre for the Performing Arts brings cultural programming to the community, while Richmond Green park offers 56 acres of sports fields, splash pads, and event space.
The real story here is the Yonge North Subway Extension. When it arrives, Downtown Richmond Hill gets a direct subway connection to Toronto — a generational transit upgrade that will reshape the neighbourhood. Smart renters are positioning themselves now, before that shift fully prices in.
| Unit Type | Avg. Monthly Rent | Notes |
|---|---|---|
| Studio / Bachelor | $1,450–$1,750 | Limited supply — mostly newer condo builds |
| 1 Bedroom | $1,800–$2,300 | Richmond Hill avg: ~$2,050 (Q1 2026) |
| 2 Bedroom | $2,300–$2,800 | Richmond Hill avg: ~$2,550 (Q1 2026) |
| 3 Bedroom | $2,750–$3,400 | Townhouses and larger units |
Source: TRREB Rental Market Report Q1 2026 (Richmond Hill, leased apartments). Ranges reflect Downtown Richmond Hill variation by unit type, age, condition, and inclusions. The GTA rental market has softened year-over-year — renters have real negotiating power right now.
What Your Dollar Gets You
Downtown Richmond Hill offers a compelling price-to-transit ratio that's hard to match in the GTA. A $2,050 one-bedroom here gets you proximity to Viva rapid transit, Hillcrest Mall, and a walkable Yonge Street corridor — the same budget in midtown Toronto gets you significantly less space.
The rental mix includes older low-rise apartment buildings along Yonge (often with rent control), newer condo units in mid-rise developments, and basement suites in surrounding residential streets. The older buildings can be genuine finds — lower rent, rent-controlled, and walking distance to everything.
Most condo rentals include one parking spot, though the growing transit infrastructure means some renters are going car-free — a real possibility along the Yonge corridor.
Transit & Roads
Downtown Richmond Hill is built around Yonge Street — the spine of York Region's transit network. Viva Blue bus rapid transit runs along Yonge with dedicated lanes, connecting south to Finch subway station and north through Newmarket. GO Transit buses provide express service to Union Station in approximately 40 minutes during peak hours.
The transformative infrastructure project is the Yonge North Subway Extension (YSE), which will extend TTC Line 1 from Finch Station north with a stop at Richmond Hill Centre. When completed, this will cut commute times to downtown Toronto dramatically and put Downtown Richmond Hill on the subway map.
Key distances: Union Station is approximately 40 minutes via Viva/GO bus. North York is 15 minutes south. Thornhill is just 5 minutes away. Markham is 10 minutes east. Highway 404 provides quick north-south access, and the 407 ETR offers fast east-west connectivity.
What This Means for Renters
Downtown Richmond Hill has a solidly middle-to-upper-middle income profile — median household income sits around $100,000. The neighbourhood is economically diverse, with a broader range of incomes than many York Region communities, reflecting the mix of older apartment renters, young professionals in newer condos, and established families.
The diversity of the community — Chinese-Canadian, Iranian, South Asian, and Russian populations are all well-represented — creates a cosmopolitan feel that's unusual for the suburbs. This diversity is reflected in the restaurant scene, the shops along Yonge, and the overall neighbourhood character.
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Downtown Richmond Hill is one of the most promising rental areas in York Region. The Yonge Street corridor offers walkability that's rare in the 905, with Hillcrest Mall, restaurants, and services within walking distance. The upcoming Yonge North Subway Extension will be a major value driver, bringing rapid transit directly to the neighbourhood. Rents are competitive compared to Toronto, and you get a mix of older affordable low-rises and newer condo developments to choose from.
The Yonge North Subway Extension (YSE) is planned to extend TTC Line 1 from Finch Station north into Richmond Hill, with a station at Richmond Hill Centre. This will put Downtown Richmond Hill on the subway map and dramatically reduce commute times to downtown Toronto to approximately 35–40 minutes. Rental demand and values are expected to increase significantly once the extension is confirmed and construction advances. For renters who position themselves here before completion, it represents a rare opportunity to lock into a transit-rich location at current 905 pricing.
Downtown Richmond Hill is one of the more walkable areas in York Region, with a Walk Score around 70. The Yonge Street corridor provides a pedestrian-friendly spine with retail, restaurants, and services. Hillcrest Mall, the Richmond Hill Public Library, and the Centre for the Performing Arts are all within walking distance of most residences along the corridor. Side streets become more suburban and car-oriented, but the core along Yonge is genuinely walkable by 905 standards — and improving as new mixed-use developments add street-level activity.
Downtown Richmond Hill is one of the most culturally diverse neighbourhoods in York Region. The community includes significant Chinese-Canadian, Iranian, South Asian, and Russian populations. This diversity is reflected in the restaurant scene along Yonge Street — you'll find excellent Chinese, Persian, Korean, and South Asian dining options within walking distance. The neighbourhood has a cosmopolitan, multicultural character that feels more urban than suburban, making it an attractive landing spot for newcomers and families from a wide range of backgrounds.
Hillcrest Mall sits at Yonge and Carrville/16th Avenue and anchors the southern end of Downtown Richmond Hill. The surrounding area features newer condo and mid-rise developments that make up a significant portion of the rental inventory. It's one of the most convenient spots for renters — grocery stores, restaurants, banking, and retail are all within walking distance. The mall itself has undergone renovations and serves as a community hub. Viva bus rapid transit stops right outside, connecting to the broader York Region transit network and south to Finch subway station.
Downtown Richmond Hill has more rental inventory than most York Region neighbourhoods thanks to the concentration of condo and mid-rise developments along the Yonge corridor. About 40% of households are renters — far higher than the Richmond Hill average. New purpose-built rental and condo projects continue to add supply. The 2025–2026 market softening has increased vacancy rates, giving tenants more options and negotiating power than in previous years. Coming in with a well-prepared application still matters, but you have more leverage than you did in 2022–2023.