A report from Royal LePage on the affordability of Canadian cities has placed Thunder Bay in third place, behind Lethbridge, Alberta and Saint John, New Brunswick.
The report looks at home sale prices, mortgage payments, and household incomes to determine how much of the average household’s income in each city is going towards their homes.
A previous report from 2024 had ranked Thunder Bay in the top spot.
Despite dropping in the rankings, Thunder Bay still became more affordable over the two year period, according to Royal LePage’s metrics.
The city’s Community Economic Development Commission (CEDC), which is celebrating the report, says the data reinforces Thunder Bay’s position as a liveable city.
“Thunder Bay continues to offer something that is increasingly difficult to find in Canada — the opportunity to build a life, purchase a home, and enjoy an exceptional quality of life without sacrificing affordability,” says CEO Jamie Taylor of the CEDC.
