Thunder Bay has been sighted as having the most affordable housing market in Ontario.
The survey by the real estate referral company Zoocasa shows, as of August this year, Thunder Bay’s average house price was $227,750.
Couple that with the $31,067 income required to afford a home at that price and our median income of $66,163 and you have a surplus of $35,096, the best of the cities studied.
To compare, Toronto is the second least affordable market which requires an income of $107,111 to afford the average priced home of $785,223.
That’s a negative gap of $41,282.