Thunder Bay

Small city · Ontario · Population 108,843

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Housing and jobs

Housing costs, rents, incomes and jobs in Thunder Bay, with comparisons and sources.

Affordability

34 · Below average

Average monthly rent$994/month

ON: $1,408/month · Canada: $1,209/month · 2006: $814/month · 2016: $930/month (in 2021 dollars) · Statistics Canada, 2021

Average rent, bachelor apartmentPurpose-built rentals, CMHC October survey.$976/month

Metro area average · CMHC, 2025

Average rent, 1-bedroom apartmentPurpose-built rentals, CMHC October survey.$1,173/month

Metro area average · CMHC, 2025

Average rent, 2-bedroom apartmentPurpose-built rentals, CMHC October survey.$1,493/month

Metro area average · CMHC, 2025

Average rent, 3-bedroom apartmentPurpose-built rentals, CMHC October survey.$1,794/month

Metro area average · CMHC, 2025

Rental vacancy rateShare of purpose-built rental apartments empty and available in October.4.3%

Metro area average · CMHC, 2025

Median dwelling value (owner-estimated)$300,000

ON: $700,000 · Canada: $472,000 · 2016: $253,959 (in 2021 dollars) · Statistics Canada, 2021

Households spending 30%+ of income on housing16%

ON: 24.2% · Canada: 20.9% · 2006: 22.4% · 2016: 20.2% · Statistics Canada, 2021

Economy

31 · Below average

Median household income$77,500

ON: $91,000 · Canada: $84,000 · 2006: $66,865 · 2016: $71,598 (in 2020 dollars) · Statistics Canada, 2021

Population growth (5-year)0.9%

ON: 5.8% · Canada: 5.2% · 2016: -0.4% · Statistics Canada, 2021

Unemployment rate11.2%

ON: 12.2% · Canada: 10.3% · 2006: 7.2% · 2016: 7.7% · Statistics Canada, 2021