Richmond Hill Condos For Sale

Location

Richmond Hill is a city in the south-central section of York Region. Part of the GTA, it is York Region's third most populous municipality. Bounded by Aurora to the North, Vaughn and Markham to the south, and Highway 404 to the east, it's unofficial motto is "A little north, a little nicer".

Relatively small at only seven kilometres east to west and 14 kilometres north to south, Richmond Hill is a vibrant community with countless attractions and diversions for the Richmond Hill Centre for the Performing Arts, to the famous Richmond Hill David Dunlop Observatory.

Transportation

Richmond Hill is in many ways a crossroads for the GTA. To it's east, the Highway 404, leads directly into the core of Toronto via the Don Valley Parkway, and makes commutes simple. Travelling throughout the boroughs and neighbourhoods of the city is easy too - Highway 401, one of the busiest highways on North America, travels east-west and just south of Richmond Hill, connecting the York Region to Scarborough, Etobicoke, Mississauga, and the rest of Southern Ontario.

As Richmond Hill grows, and traffic becomes more dense, residents of Richmond Hill have many other options for their commutes. York Region Transit (YRT) runs an unparalleled bus service throughout the entire northern region of the GTA, providing simple connections to Vaughan, Aurora, Markham, Newmarket, and Whitchurch- Stouffville, with simple connections to the TTC line. Though the TTC itself does not operate within Richmond Hill, plans are being prepared to extend the primary subway lines to the intersection of Yonge and Highway 7, at the area's southern border.

Commuters can also rely on GO Transit. The primary commuter rail has two stations within the city - Richmond Hill Station and Langstaff Station, both providing regular trains in and out of the city.

Job opportunity

Richmond Hill is often referred to as a dormitory community - a great number of it's residents commuting to work every day. That said, Richmond Hill has a thriving

industrial, and commercial sector. It's proximity to Markham has led to a great deal of Information Technology, and Software Development jobs. Often called "Silicon Valley North" Markham is an epicentre for hi-tech employment, and it's neighbour, Richmond Hill, is not far behind.

Richmond hill also has a robust small business community, with many "Mom & Pop" operations, restaurants, and services, but that doesn't mean the region isn't attractive to larger corporations as well - many businesses, including Lexmark, Rogers Communitcations, BMW Canada, and Staples have campuses or headquarters within Richmond Hill providing hundreds of jobs.

School, parks

York Region District School Board operates 27 public schools within Richmond Hill, as well as 5 high schools. Students within the York Region District School Board have consistently scored above-average compared to the rest of the province, especially in the realms of reading, writing, and math.

There is also the York Catholic School Board, which operates 13 elementary schools and two catholic high schools.

Active families looking for adventure and outdoor activities will be right at home in Richmond Hill. The region has over 200 parks, and greenspaces, like Lake Wilcox, Mill Pond Park, and Phyllis Rawlinson Park - families can enjoy dog parks, bbq grills, even a fun aquatic playground. About 20% of it's land is moraine and greenbelt, with dozens of attractions, and community spaces throughout.

Average household income

Richmond Hill is an affluent community - the average household income is $100K, well above the Canadian average. With a low unemployment rate, and a healthy average salary of $47K, largely in the business, finance, and administration sectors, Richmond Hill is an ideal place to set down roots.

Condo/ Housing trend

Just a few years ago, Richmond Hill was known as Toronto's fastest growing housing market. Dramatic growth has occurred over the past 30 years, with the city's population has gone from 57,000 to 231,000.

While demand has never diminished, development in the city has focused on more dense homes like condos and apartments. Dozens of new condominium projects have sprouted along Yonge Street, reclaiming tired plazas and unused land, and bringing life and excitement to the core of the city. Many of these developments are up to 15 storeys, but some reach nearly 40.

Average rental rates are around $2K, and the demand for condos is high - as vacancy rate sits very low, around 0.8%. The average price of a pre-construction condo sits in the mid $300K range, but prices continue to grow year-to-year. This is excellent news for families looking to invest in a new home or condo, as property values are only expected to increase in the next few years.