Photo: Jason Zhang · CC0In Underwood, 21% of households can’t afford a home that is big enough and in good repair (Ontario’s towns: 9%)
By the 2021 census, half of owned homes were worth more than $1,000,000; the average was $1,002,167. Statistics Canada doesn’t publish sales in Ontario, so nothing here says what Underwood’s homes actually sold for. For 2024, the median assessed value of a residential property is $787,000. MPAC hasn’t reassessed since its 1 January 2016 values, which is why the figure sits well under the census value; it compares only within Ontario. Underwood shares its assessed values, values by property type and building permits numbers with the rest of the city of Markham.
Two ways to price a home in Underwood
Two sources, each set against Ontario’s towns only: provinces measure value differently, so they don’t line up across borders. Treat the values as owners’ May 2021 guesses: they are self-reported, and they come from before rates went up.
median, owners’ estimate
- Average
- $1M
- Owners
- 1,620
- Ontario’s towns
- $695K
- The typical Canadian town
- $406K
all residential, MPAC 2016 base
- Ontario’s towns
- $232K
Census 2021 (Statistics Canada); Canadian Housing Statistics Program, tables 46-10-0099 and 46-10-0093; Québec rôle d’évaluation foncière 2026 (MAMH).
Houses in Markham carry 3.7 times the assessment of the median for Ontario’s towns
Assessors listed 108,480 residential properties in Markham for 2024, 61% of them detached houses and 16% condos.
Median assessment by type, 2024 the tick is the median of Ontario’s towns
Canadian Housing Statistics Program, table 46-10-0093 (2024): residential properties on the assessment roll, vacant land left out. The ticks are the median of Ontario’s towns with their own figure; assessments compare within a province only.
Underwood’s homes: when they went up and what they are
Underwood had 1,845 occupied homes at the 2021 census, 66% of them single-detached houses. Half went up before 2001. Summed from small census areas, a neighbourhood’s parts may add up to a little less than its total.
Homes by period of construction the tick is the median of Ontario’s towns
Homes by kind
| Underwood | Ontario | Canada | |
|---|---|---|---|
| Condominiums | 17% | 7% | 8% |
| Needing major repairs | 3% | 6% | 6% |
| Too small for the household | 11% | 5% | 3% |
| Households in core housing need | 21% | 9% | 7% |
Census 2021 (Statistics Canada): occupied private dwellings; core housing need as Statistics Canada defines it. Ticks and columns are medians of the towns and neighbourhoods of 2,500 or more.
Permits in Markham ran at 12.4 homes a year per 1,000, near the 15 of Ontario’s towns
From 2018 to 2023, permits in Markham created 9,308 homes, about 1,551 a year. Multi-unit buildings took most: single-unit ones were just 16%, where Ontario’s towns built 66%. Underwood doesn’t get its own monthly permits figures; the ones here come from the Toronto metro area.
The busiest year: 2021, with 2,900 new homes
New homes a year per 1,000 homes
Down 13%: 35,927 new homes in the year to August 2026
Statistics Canada, tables 46-10-0087 (building permits by census subdivision, 2018–2023: dwelling units created, new construction and conversions) and 34-10-0292 (monthly, metro areas). Per 1,000: units a year over 2019–2023 against occupied homes in 2021.
Underwood is 44% above the $695,000 median of Ontario’s towns
871 of Ontario’s towns (2,500 people or more), by median value at the 2021 census, dearest first.
Census 2021, owners’ estimates; towns and neighbourhoods of 2,500 or more, no city as a whole, no reserve.
Lower values near Underwood: Milliken, Agincourt North and East L'Amoreaux
The places around Underwood at the 2021 census: median and average value, and how many own.
| Town | Median home value | Average | Owners | km |
|---|---|---|---|---|
| Underwood | $1M | $1M | 87% | |
| Milliken | $950K | $919K | 84% | 0.6 |
| Hagerman's Corners | $1M | $1.08M | 74% | 1.7 |
| Steeles | $950K | $877K | 83% | 2.4 |
| Milliken | $900K | $823K | 88% | 2.5 |
| Agincourt North | $850K | $808K | 79% | 3.6 |
| East L'Amoreaux | $755K | $779K | 75% | 3.7 |
Census 2021 values; km.
Questions about property prices in Underwood
Is Underwood expensive for Ontario?
Yes: Underwood’s census median is above the $695,000 of Ontario’s towns.
Sources: Statistics Canada, Census of Population 2021 · Statistics Canada, Canadian Housing Statistics Program · Statistics Canada, building permits (tables 46-10-0087 and 34-10-0292). Under the Statistics Canada Open Licence.
Adapted from Statistics Canada (Census of Population 2021, population estimates 2025, 2021 census boundaries) under the Statistics Canada Open Licence; this does not constitute an endorsement by Statistics Canada. Neighbourhood names in some cities © OpenStreetMap contributors (ODbL).