Milliken Neighbourhood in Markham
Milliken is a neighborhood in the city of Markham and is located northeast of the city of Toronto. The neighborhood is split into east and west portions. Milliken East is bordered by McCowan Road to the east, Kennedy Road to the west, Steeles Avenue to the south and Highway 407 to the north. Milliken West on the other hand is bordered by Highway 407 to the north, Steeles Avenue to the south, Kennedy Road to the east and Highway 404 to the west. Majority of this neighborhood is occupied by commercial developments with residential developments sprinkled on it. Homeownership in the area is high for both the neighborhoods. While 82 percent of the residents in West Milliken are homeowners, the remaining 18 percent of the population prefer renting out. The average household income here stands at $91,454. The east has a higher percentage of homeowners which stands at 90 percent as compared to the 10 percent who prefer to rent. The average income in the east is slightly higher than that of the West and stands at $104,947. Milliken West largely comprises linked houses which account for 53 percent of the total home sales in the area. Detached houses are prevalent too and account for 32 percent of the total sales. Semi-detached houses are the least common type and account for only 14 percent. Two storey houses are a common trend here with the majority of the properties consisting of three bedrooms.
List of New Milliken in New Condos Milliken Neighbourhood
Why Invest in Milliken Real Estate?
Markham is one of the fastest growing municipalities in Ontario while being ethnically diverse. The current population of the city is about 340,000 and its growing exponentially. The city has witnessed a 15.3 percent rise in its population since 2006, which is approximately thrice as fast as that of the Canadian average. Milliken is abundant in terms of amenities, be it shopping, groceries, restaurants, cafes or even bars, you will find everything within comfortable walking distance from your home. The area also has several parks and green spaces that promote a healthy lifestyle. One of the best features about this neighborhood is that it has a little bit of everything for all types of residents. When it comes to the young demographic, most are working professionals who love to work and play. The abundance of transit options and the prime location of the neighborhood ensures a smooth commuting experience. Langstaff is an upcoming neighborhood and being it its nascent stage, the prices of real estate here are comparatively lesser compared to its other counterparts in the Greater Toronto Area such as Mississauga and Toronto. It has already been estimated that the population of the area will increase exponentially once everything is in place. This will ultimately increase the demand of houses and condo units. Investing now is the best option available as the prices are still affordable and reasonable. As per survey, the prices of real estate had surged 23 percent over a year which indicates that the value of your property will keep increasing over time. Renting out the place is also a very lucrative option as you will be ensured of a monthly income through rent. The neighborhood has a diverse population of Mandarin, Cantonese, Tamil and Greek speakers. Although Milliken is ideal for all kinds of households, families account for the majority of the population. Families with 1 child are more abundant in the West while the East constitutes more of families with 2 children. Majority of the children in Milliken are under 14 years of age. The neighborhood is convenient and has access to all local amenities such as shops, bars, cafes, upscale restaurants, professional services, shopping centres and a public library. The Milliken Park Recreational Trail is also a unique part of the neighborhood and winds through the neighborhoods. Milliken is very walkable and as a result, everything is available within reach, negating the need for using vehicles.
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Accessibility
One of the best features about Milliken is the abundance of commuting options. The neighborhood is served well by public transportation thanks to the Toronto Transit Commission, Yonge Region Transit, Viva and Go Transit. These public transportation options allow commuters to not only travel within Markham, but also within the entire Greater Toronto Area. This abundance of public transportation also makes the neighborhood ideal for residents who are required to commute regularly. Be it buses, streetcars, subways or trains, the services are simply a few steps away from the comfort of your home. Residents who prefer driving also have access to several arterial roadways which help in commuting to any part of the city within no time. Milliken has easy access to Highway 404 and Highway 407 which allow motorists to travel to any part of the Greater Toronto Area within no time.
Average Prices of Condos in Milliken
The average price in this part of the neighborhood over the past year was $990,398, which was an increase of 21 percent over the same term the previous year. The average freehold price over the past year stood at $1,090,114, against the average condo price of $329,000 over the same period. Linked houses are also dominant in the eastern part of the neighborhood and account for 39 percent of the total homes sales in the region. Detached houses are quite common too and account for 37 percent while condos are still small in number and account for only 12 percent of the total sales. The average price in Milliken East over the past year stood at $971,225, which was an increase of 23 percent over the previous term. The average freehold cost here over the past year stood at $1,389,091, against the average condo price of $446,888 over the same period.
