Where should first-time buyers look for a Markham condo under $600,000?Under $600,000, first-time buyers in Markham are mostly choosing between newer one-bedroom and one-plus-den units in Downtown Markham and along Highway 7, and older, often larger units around the Unionville and Town Centre area, the Steeles corridor and Thornhill. Markham condo apartments averaged $574,612 in September 2026, according to TRREB. Newer buildings usually mean smaller units and better transit access; older buildings often mean more space but higher condo fees per month. Compare the monthly total, not only the price.
For many first-time buyers, a condo is the most realistic way into Markham ownership. The question is which part of Markham gives the best mix of price, space, transit and monthly cost.
Michael John Lau, a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region, helps first-time buyers compare condo areas by the full monthly cost, including fees, taxes and commute, before they fall for a unit.
The market at a glance
| September 2026 (TRREB) | Figure |
|---|---|
| Markham condo apartment average price | $574,612 |
| Markham condo apartment sales | 55 |
| GTA condo apartment prices, year over year | Down 7.7% |
With prices softer than in 2025, a $600,000 budget now reaches some units that were out of range a year ago.
Condo areas compared
| Area | Typical buildings | Good for | Watch for |
|---|---|---|---|
| Downtown Markham and Markham Centre | Newer high-rises near Highway 7, Warden and Birchmount | Viva Rapidway, shopping, newer amenities | Smaller units; compare fees per square foot |
| Unionville and Town Centre area | Mix of older and mid-age buildings near Highway 7 and Kennedy | More space for the price, close to Unionville GO | Older systems and higher fees in some buildings |
| Thornhill (Markham side) | Older and mid-age buildings near Yonge and Steeles | TTC access and the planned Yonge North Subway Extension | Building age and special assessments |
| Steeles and Milliken corridor | Older and newer buildings near Steeles and Kennedy | Milliken GO, TTC buses, food and shopping | Road noise on major corridors |
| Cornell and East Markham | Low-rise and mid-rise condos near Markham Stouffville Hospital | Quieter setting, trails, newer stock | Fewer units for sale and a longer commute |
Building age: new vs. older
- Newer buildings: lower repair risk in the early years, modern amenities and often lower fees per unit, but smaller layouts.
- Older buildings: larger units and established reserve funds in well-run buildings, but higher monthly fees and more major repairs ahead.
Either way, the status certificate and reserve fund study tell you more than the lobby does. For what to look for, see how to spot an underrated Markham condo building.
Buying your first Markham condo?
Michael John Lau can compare buildings on your list by monthly cost, fees and resale.
Book a buyer consultationSearch Markham homesPrefer to talk? Call the Kaizen Real Estate Team at (647) 370-8885.
Monthly cost example
| $575,000 condo, 5% down example | Approximate |
|---|---|
| Minimum down payment | $32,500 |
| Property tax at Markham’s 2026 residential rate (0.722889%), on an assessed value of $450,000 | About $271 per month |
| Condo fees | Varies widely by building and size |
Property tax is based on the MPAC assessed value, not the price, so ask for the actual tax bill. Lenders include condo fees when they decide how much you qualify for.
Transit and commute
Many first-time buyers choose a condo for transit. Viva Rapidway buses run along Highway 7, GO stations serve Unionville, Milliken and Markham Village, and the TTC reaches the Steeles corridor. A YRT adult PRESTO fare is $4.24 as of July 1, 2026, with free rides after 40 paid trips a month. See commuting from Markham to downtown Toronto.
Parking and lockers
Not every unit under $600,000 includes parking. A unit without parking costs less, but can be harder to resell to buyers with a car. Check whether parking and lockers are owned, leased or exclusive-use, and whether EV charging is possible.
Before you offer
- Review the status certificate with your lawyer.
- Ask about upcoming fee increases and special assessments.
- Check rental and pet rules.
- Compare fees per square foot across buildings.
- Visit at rush hour to check noise and traffic.
Ultimately, the decision is yours. The goal is to make sure you have all the information before you buy your first condo.
The right first condo fits your budget every month, not only on closing day. Call the Kaizen Real Estate Team at (647) 370-8885 or book a consultation.
Frequently asked questions
What is the average condo price in Markham?
Markham condo apartments averaged $574,612 in September 2026, based on 55 sales, according to TRREB.
Where are the cheapest condos in Markham?
Older buildings around the Town Centre area, the Steeles corridor and Thornhill often offer more space for the price. Check fees and building condition.
Are newer condos better for first-time buyers?
Not always. Newer buildings usually have smaller units, while well-run older buildings can offer more space. Compare the status certificate and fees.
How much down payment do I need for a $575,000 condo?
The minimum is about $32,500: 5% of the first $500,000 and 10% of the rest.
Do condo fees affect my mortgage approval?
Yes. Lenders include condo fees when they calculate how much you qualify for.
Is a condo without parking a good buy?
It can be if you rely on transit, but it may limit your future buyers. Price it accordingly.
Michael John Lau and Neeraj Moolchandani are licensed REALTORS® with the Kaizen Real Estate Team, eXp Realty, Brokerage, 9763 Markham Rd, Markham, ON L6E 1A4. Licence #4784577. Call (647) 370-8885. Condo prices are from TRREB Market Watch (September 2026, released October 6, 2026). The tax rate is from the City of Markham (2026). YRT fares are from York Region Transit (effective July 1, 2026). The tax example uses an assumed assessment for illustration. This article is general information only and is not financial, legal or tax advice. Not intended to solicit buyers or sellers currently under contract with another brokerage.
