Housing

Affordable Living

Thunder Bay has a long history of affordable housing. Families looking for their next, or first, home have a variety of property options to choose from. With the lower cost of homes in Thunder Bay, families can afford a larger home, in a safe community, and unparalleled access to outdoor recreational opportunities. 

In August 2018 the Thunder Bay Real Estate Board reported that the average sale price of a single detached home was $233,500. Toronto's Real Estate Board reported an average price of $867,500 for the same type of home. Compared to other Ontario communities, Thunder Bay has a very affordable housing market allowing residents to spend more time enjoying life rather than focusing on the financial stress of home-ownership.

Arial photo of Thunder BayMoneySense ranked Thunder Bay as 17th of the Top 35 Cities to Buy Real Estate in Canada, based on sales of new single detached homes. Additionally, Thunder Bay has an Average Income to Home Price Ratio of 5.2 for new single detached homes, which is below the average of all cities in this ranking (6.0).

 

New Single Detached Home
City Average Home Price Average Household Income Average Income to Home Price Ratio
Thunder Bay $453,471 $87,183.27 5.2
Brantford $506,016 $86,092.87 5.88
Hamilton $622,853 $99,426.80 6.26
Guelph $718,898 $103,898.5 6.92
Vancouver $2,264,596 $100,042.67 22.64

Rental Rates

Arial photo of Thunder BayThunder Bay offers residents numerous housing options outside of traditional home ownership. Those looking for a rental property can find quality space at a reasonable price. With an average rental cost of $953 per month, the rental market in Thunder Bay has very affordable rates when compared to similarly-sized communities in Ontario.

 

Rental Rates
City 1 Bedroom 2 Bedroom 3 Bedroom
Thunder Bay $759 $925 $1173
Brantford $780 $893 $1034
Hamilton $832 $1039 $1253
Guelph $902 $1030 $1190
Vancouver $1079 $1373 $1610

Testimonial: Whole Nine Yards

The Whole Nine Yards logo"I went to (Toronto to) do what I had to do, I sewed with some of the best people in the business. Then it was time to come home where housing is affordable, people are friendly and there’s a great quality of life." - Valarie Midgley, Owner, The Whole Nine Yards

For additional information please contact the Development Officer at (807) 625-3960 or visit our Contact Us page.

Contact(s)

Sign Up for the Go To Thunder Bay Newsletter

Why Thunder Bay

Technicians working in lab

Thunder Bay is Northwestern Ontario's commercial, administrative and medical hub.

Testimonials

“We ship every day… Plane leaves here at 5 o’clock every day. Our goods are in their owners hands as quick as 18 hours anywhere in North America.” - Owner, Cinevate Inc.

Quick Stats

Logo Map

Education

GIS

LOCAL NEWS