There are a variety of property types to choose from when looking for real estate in Thunder Bay. There are 171 houses, 0 townhouses, and 20 condos for sale. For past listings, search our Thunder Bay sold listings and Thunder Bay expired listings The average listing price in Thunder Bay for all home types is $278,567, which is 2% higher than April 2018. There are many popular cities surrounding Thunder Bay, including Sault Ste. Marie, Winnipeg, Greater Sudbury, Windsor, Sarnia, Owen Sound, Chatsworth that offer a variety of home prices and unique areas to live. Thunder Bay also has many options for renters with 221 active rental listings and an average lease price of $2,240.
Thunder Bay is home to 42 unique neighbourhoods. Popular neighbourhoods include McKellar Park, with 21 active real estate listings, Downtown, with 21 active real estate listings, and Victoriaville Centre, with 21 active real estate listings.
Residents of the City of Thunder Bay are expected to pay property taxes on all residences that they own. Property taxes can usually be found on each active Zoocasa listing, or can be looked up here. As of 2017, the estimated property tax residents can expect to pay is 1.684%.
There is currently no municipal land transfer tax in effect in Thunder Bay but the provincial land transfer tax still applies to all property purchases. First-time home buyers in Ontario may quality for a provincial land transfer tax rebate of up to $4,000.
See below for provincial land transfer tax rates.
|Ontario Land Transfer Tax Rates|
|$0 - $55,000||0.5%|
|$55,000.01 - $250,000||1.0%|
|$250,000.01 - $400,000||1.5%|
|$400,000.01 - $2,000,000||2.0%|
Thunder Bay Land Transfer Example:
Purchase price = $600,000
|Purchase Price||Subtract Tax Brackets||Rate||Non 1st Time Buyer Tax Payable||1st Time Buyer Tax Payable|
|$0 - $55,000||$55,000||0.5%||$275||$0|
|$55,000 - $250,000||$195,000||1.0%||$1,950||$0|
|$250,000 - $400,000||$150,000||1.5%||$2,250||$475|
|$400,000 - $600,000||$200,000||2.0%||$4,000||$4,000|
|Non 1st Time Buyer||1st Time Buyer|
Part of the Thunder Bay District, Thunder Bay is the largest city in Northwestern Ontario with a population of 121,621 according to the 2016 census. The city is named after the immense “Thunder Bay” at the head of Lake Superior, and is often referred to as the “Canadian Lakehead” due to its location at the northern tip of the Great Lakes.
While forestry and manufacturing have long played an important role in the city’s economy, it has more recently become known as a “knowledge economy”, based on research and education.
The 2016 census reports 121,621 residents call Thunder Bay home, with the population split between 48% male, and 51.1% female.
However, population growth is slower in the city, increasing less than 0.1% between 2011 to 2016 compared to the 4.6% average population growth in Ontario. Thunder Bay is home to the highest concentration of people of Finnish origin per capita in Canada, (Toronto is second), and is represented by very few visible minorities; the most populous being Chinese Canadians, who make up 0.8% of the city’s population.
The Lakehead District School Board governs 22 elementary schools and 7 secondary schools across the city with 12,377 students.
|Elementary School Name||Fraser Rating (out of 10.0)|
|McKellar Park Central||6.5|
Fraser Institute Rankings for Thunder Bay High Schools
|SecondarySchool Name||Fraser Rating (out of 10.0)|
|Sir Winston Churchill||6.4|
|de la Verendrye||5.5|
The major shopping centre, StoneThere are both large and small shopping malls and plazas in Thunder Bay, including the Arthur Street Marketplace, Centennial Square, Country Fair Mall, Grandview Mall, Intercity Shopping Centre, Northwood Park Plaza, and Victoriaville Centre. One of the first, and most popular, malls in Thunder Bay is Intercity Shopping Centre which is located just minutes away from Confederation College.
There are currently no professional sports team that belong to Thunder Bay. Most residents in the city visit Toronto for professional sports.
There are currently no regulations in place for short-term rental platforms like Airbnb in the city of Thunder Bay
Thunder Bay Transit is the main transit system and services the entire city with a fleet of buses. There are currently no plans for any rapid transit systems to be implemented in the city. A majority of major bus routes run from 5:45AM in the morning until 12:30AM at night, Monday to Saturday, and 9:15AM to 11:30pm on Sunday. A one-way fare on the Thunder Bay Transit system is $2.75 for adults and children. A monthly pass can be purchased for $77 a month for adults and $55 a month for youth. An annual senior pass can be purchased for $495.
Thunder Bay is serviced by Thunder Bay International Airport, currently the fifth busiest in Ontario and 16th in Canada. More than 761,000 passengers pass through this airport every year with daily service from airlines including Air Canada, Air Transat, Porter, Sunwing and WestJet. Most destinations originating from this airport include cities in Ontario, Saskatchewan, Quebec, and resorts in Mexico and Cuba.
The biggest taxi company that operates in Thunder Bay is Diamond Lacey’s Taxi. Because taxis are difficult to hail on the go, it is best to book in advance or visit a train station or hotel where they are usually parked waiting for passengers.
Uber currently does not operate in Thunder Bay but residents use URIDE, which is a similar ride hailing app exclusively for Thunder Bay. It is a popular alternative to regular taxi services in the city.
Thunder Bay Expressway is a four-lane highway system that runs from the western edge of the city. The route carries portions of Highway 61, 11, 17 and it is the main highway that connects Thunder Bay to the rest of Ontario. Those who are traveling east towards Toronto can take Highway 17 to going eastbound and west on Highway 61 towards the US border.
There are currently four hospitals in the city of Thunder Bay. These include Lakehead, Thunder Bay Regional, Thunder Bay Pioneer Ridge, and St. Joseph’s Hospital. All four hospitals are spread throughout the city centre.