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Population Growth Rate
Between 1996 and 2004, Richmond Hill experienced a 58.8% population increase, making it one of the
fastest growing “large” (over 100,000) municipalities in Canada. Richmond Hillīs population according
to the 2001 census was 132,030 and the estimated population as of December 31st, 2004 was 161,832. Forecasts project Richmond Hillīs population to reach 219,000 by the year 2026.
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Family Income
Richmond Hill has an affluent community with more than 52% of families reporting incomes of greater than $70,000 and over 31% of households reporting incomes greater than $100,000. The average household income in Richmond Hill is $100,900 which is 34% higher than the Canadian average and 26% higher than the provincial average.
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Per Capita Income
Richmond Hill has a per capita income of $32,600 per resident, which compares well among local, provincial & national averages.
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Corporate Headquarters
Richmond Hill has become a location of choice for major corporations. Table 3-9 is a partial listing of the more than three dozen companies which have decided to make Richmond Hill the location for their corporate headquarters.
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Retail Trade
The estimated retail sales in Richmond Hill for 2005 are quite healthy at $1,202,300,000. Average retail expenditures in Richmond Hill for 2005 are estimated at $23,400 per household and $7,500 per capita. In addition, Richmond Hill boasts a major regional mall (Hillcrest Mall) with over 130 stores that recently underwent a $24 million renovation. A major retail
development has recently been completed at the corner of Bayview and Major Mackenzie (First Pro Shopping Centre) that includes a 24-hour Dominion grocery store, along with Wal-Mart, Shopper’s Drug Mart, and a plethora of other fast food and retail outlets. As well, the Bayview Glen Business Area has seen further retail development occur this past year with the most notable being Sam’s Club.
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Employment Projections
Richmond Hill added 10,045 jobs between 1996 and 2001, representing a double digit increase of 23.2%, and placing it as the third largest employment centre with the region. While job growth was widespread in Richmond Hill, it is the business services and wholesale trade industry segments which accounted for much of the employment growth during this period. The average annual employment growth rate for York Region has been one of the highest in the Greater Toronto Area (GTA) since the mid-1980’s. In 1986, York Region had an 8% share of total employment in the GTA that jumped to 15% by 2001 as outlined in Figure 4-2.
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Unemployment Rates
Figure 4-4 provides a comparison of unemployment rates between Richmond Hill, the Greater Toronto Area (GTA), the Province of Ontario and Canada.
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Labour Force Mobility
A significant number of Richmond Hill residents (15.4%) work in the municipality. However,
Richmond Hill’s labour force is highly mobile and the majority (84.6%) head off to work in the Greater Toronto Area (GTA) municipalities including other areas of York Region. Over 82% of individual trips for Richmond Hill residents is between 0 to 19 kilometres per average trip The primary form of transportation is as an automobile driver or passenger (85%) as outlined in Tables 4-3 to 4-6.
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Building Activity
For the fifth time in six years, annual building permit values exceeded the half billion dollar mark in Richmond Hill with the total construction value of all permits issued for 2004 totalling $533,919,373. Furthermore, Richmond Hill remains in the top 20 municipalities across Canada for total building permit values as outlined in Table 5-4 and from January to June 2003 Richmond Hill had two of the top five ‘Building Permits with the Highest Construction Values’ in York Region illustrated in Table 5-6.
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Housing Starts
New housing construction in Richmond Hill has been quite healthy particularly N1997, a trend that is expected to continue over the next 3 to 5 years.
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Industrial Realty Taxes
As a result of the City of Toronto amalgamation and property tax reform, the 2003 reported data calculates the amount of property tax as a percentage of the current value assessment for Industrial and Commercial categories. Richmond Hill and neighbouring York Region municipalities continue to have some of the lowest Industrial Tax Rates in the GTA, Table 6-5.
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Development Charges
Development charges are intended to offset the costs of creating new hard services (roads, water lines, sanitary sewers etc.) and soft services (police, libraries, transit, etc.) that result from new developments. Richmond Hillīs industrial/commercial and residential development charges are outlined in Tables 6.5 and 6.6.
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Housing Prices
Table 7-1 outlines average housing prices in Richmond Hill for several housing types, and
draws price comparisons with surrounding municipalities. Housing prices in Richmond Hill are
competitive and economical for most housing dwelling types.
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Rental Accommodations
As is illustrated by Table 7-2, the cost of renting a
unit in Richmond Hill is quite affordable and price
competitive compared with other Greater Toronto
Area (GTA) municipalities.
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Other Greater Toronto Area Attractions
Richmond Hill’s location in the heart of the Greater Toronto Area (GTA) gives local residents access to a multitude of cultural and entertainment amenities. From theatrical productions to concerts, professional sports to amateur recreation, the GTA offers a high
quality lifestyle.
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