Borrowing in Markham, Ontario

This page covers borrowing in Markham, Ontario: the census facts, the provincial rules, and the products people compare.

How borrowing works locally

A provincial regulator publishes licensing requirements, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

A longer amortisation lowers each payment and raises the total interest paid over the life of the loan. A prepayment privilege allows a borrower to pay more than the scheduled amount, sometimes with a charge attached.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• Personal loans: A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept.
• Mortgage loans: Borrowing against residential property, including how a federally regulated lender tests the file.

The census figures for Markham

Markham recorded a population of 338,503 in Statistics Canada's 2021 Census of Population. Its land area is 210.9 square kilometres.

Population divided by land area produces a density of 1604.8 people per square kilometre.

The 2021 Census population places it at rank 7 in the province.

Markham therefore appears at rank 7 of 527 covered Ontario places, with a density of 1604.8 people per square kilometre.

The Ontario rules that apply

The body that licenses consumer lending in Ontario is the regulator named on the federal Payday Lending Regulations (SOR/2024-114)'s list of provincial and territorial regulators.

Payday lending is licensed in Ontario; the federal Payday Lending Regulations (SOR/2024-114) publish a cap of $14 per $100 advanced, and notes that a province may set a lower figure.

Places in the upper-middle band are grouped here, with the province setting the cost and licensing rules.

The density figure for Markham, 1604.8 people per square kilometre, is calculated from the population and land area above.

At 338,503 residents in the 2021 Census, Markham is listed alongside the other covered places in Ontario.

Markham is one of 527 covered Ontario places, counted at 338,503 residents with a land area of 210.9 square kilometres.

Markham appears in the census record with 338,503 residents, and the density of 1604.8 people per square kilometre follows from it.

Where a figure for Markham could not be verified, the page names the publisher instead of printing a number.

Markham ranks 7 by 2021 Census population among the covered places in Ontario.

The Markham page follows the same structure as every other place page, with population, land area, density and rank.

For Markham, the two census fields above are the only local statistics used anywhere on the page.

The land area recorded for Markham is 210.9 square kilometres, and the population is 338,503 residents in the 2021 Census.

Markham sits at rank 7 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Nothing on the Markham page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

Readers comparing Markham with another community can use the same four census fields.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

The 2021 Census of Population published by Statistics Canada is the source for population and land area; the federal Payday Lending Regulations (SOR/2024-114) are the source for payday rules.

The provincial rules apply wherever a borrower is in Ontario; a municipal boundary does not change them.