Parklane Townhomes
930 Neebing Av,
Thunder Bay, ON P7E 3L5
3 Beds | C$1,799 - 1,899
Rental Market Trends in Thunder Bay, ON
What is the average rent in Thunder Bay, ON?
C$1,501/month
Average Rent
658 Sq Ft
Average Apartment Size
+2.5%
Increase in the Last Year
As of November 2024, the average rent in Thunder Bay, ON was C$1,501/month. When you rent an apartment in Thunder Bay, you can expect to pay as little as C$1,501 to as much as C$2,156, depending on the location and size of the apartment.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Thunder Bay, ON?
In the past year, rent has increased by 2.5%, which averages out to C$37 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated November 2024
Legend
2023
2024
Rent Ranges in Thunder Bay, ON
Last Updated November 2024
C$1,501 - C$2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below C$700/month
0%
C$700 - C$1,000/month
20%
C$1,001 - C$1,500/month
80%
C$1,501 - C$2,000/month
0%
Above C$2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Thunder Bay?
Based on current rent prices, Ontario Northwest Area is the most affordable neighborhood in Thunder Bay.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Thunder Bay?
Based on current rent prices, Ontario Northwest Area is the most expensive neighborhood in Thunder Bay.
Neighborhood
Average Rent
Average Sq Ft
Which Thunder Bay neighborhoods have the most rentals available?
The neighborhood in Thunder Bay with the most apartments available is Ontario Northwest Area .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Thunder Bay, ON?
With the average rent in Thunder Bay being C$1,501/month, you’ll want to make about C$5,003 per month or C$60,036 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our Rent Affordability Calculator to determine what an affordable rent amount is for you.
How does Thunder Bay, ON compare to other nearby cities and neighborhoods?
Use the tool below to compare Thunder Bay, ON to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,252/month
$1,252/month
One Bedroom
$1,406/month
$1,406/month
Two Bedroom
$1,668/month
$1,668/month
Three Bedroom
$1,906/month
$1,906/month
Apartment communities in Thunder Bay we think you'll love
Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.