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City in Ontario

Condos for sale in Thunder Bay

Name: HOMEH Market Pulse — Thunder Bay closed sales and leases
Creator: HOMEH
License: https://homeh.com/terms-of-use

There are 14 condos and apartments for sale in Thunder Bay today, with a median asking price of $357,400 (-8% vs. all homes in Thunder Bay). 1 is a new condo in Thunder Bay, under five years old. The most active neighbourhoods are Lakefront, College Heights and Academy Heights.

family-friendly community-oriented affordable

108,843 people lived in Thunder Bay at the 2021 Census, in 48,435 households. 68% of households owned their home and 32% rented. The most common homes were single-detached houses (66%) and low-rise apartments (16%). 73% of homes were built before 1981, and 4% since 2011. 88% of commuters went to work by car and 3% by public transit.

Population density: 243.2 per km²

Thunder Bay, Ontario

Condos in Thunder Bay

Day to dayLivability

5.8

Schools near listings

out of 10 · averaged over 615 past and present listings

Fraser Institute ratings within 2 km of each listing, closer schools weighted more

Each score is an average over this area's own listings and is shown only where at least 5 of them carry one. Scores are reported by listing agents, not measured by HOMEH.

What it costsAffordability

Median asking price

$389,999

46% below Ontario

In Thunder Bay

$389,999

In Ontario

$716,900

Median monthly rent

In Ontario

$2,499

On the marketMarket snapshot

For sale

137

Median $389,999

Houses 121 · Condos 16

For rent

Recently sold

Recently leased

Market data as of 2026-08-16. Sold and leased figures are neighbourhood medians over the last 12 months, published only where at least 5 homes closed — never a single sale.

The honest readPros & cons

What people love

Affordable housing compared to provincial median
Good school rating of 5.8
Multiple parks for outdoor activities
Low population density for spacious living

Keep in mind

No rental properties currently available
Higher average price than median sale price

The feel of the placeLifestyle

Daily life in Thunder Bay is relaxed, with access to parks and schools. The city has a community feel, suitable for families.

Great for first-time buyers families those seeking affordable housing

Within the boundaryWhat's nearby

The boundary

436.0 km²

Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.

109

Parks

Playgrounds

Grocery stores

Restaurants

Cafés

Gyms

Libraries

Pharmacies

Counted across all 436.0 km² of Thunder Bay. From OpenStreetMap, as of 2026-10-12.

The schoolsWhich schools, and how they rate

5.9/10

Average rating of the 35 rated schools in this area

Elementary

Secondary

St Paul Catholic Elementary School
Catholic · Grades JK–6 · Thunder Bay CDSB
9.6/107.5 over 5 yrs
35th of 3,045 Ontario elementary schools
140 students · EQAO 2024-2025
St Francis Catholic Elementary School
Catholic · Grades JK–6 · Thunder Bay CDSB
7.7/107.2 over 5 yrs
476th of 3,045 Ontario elementary schools
155 students · EQAO 2024-2025
Nor'wester View Public School
Public · Grades JK–8 · Lakehead DSB
7.4/106.7 over 5 yrs
626th of 3,045 Ontario elementary schools
300 students · EQAO 2024-2025
Holy Family Catholic Elementary School
Catholic · Grades JK–6 · Thunder Bay CDSB
7.3/106.3 over 5 yrs
687th of 3,045 Ontario elementary schools
355 students · EQAO 2024-2025
St Pius X Catholic Elementary School
Catholic · Grades JK–6 · Thunder Bay CDSB
7.3/105.8 over 5 yrs
687th of 3,045 Ontario elementary schools
205 students · EQAO 2024-2025
St Thomas Aquinas Catholic Elementary School
Catholic · Grades JK–6 · Thunder Bay CDSB
7.3/107.0 over 5 yrs
687th of 3,045 Ontario elementary schools
205 students · EQAO 2024-2025

Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside Thunder Bay, not a catchment — most Ontario boards do not publish attendance boundaries, and we will not draw a line we cannot source. Confirm enrolment with the school board before you buy.

The peopleWho lives here

108,843

Population (2021)

327.8 km²

Area

332

People per km²

44.4

Median age

$85,512

Median income

68%

Own their home

2.3

People per household

48,435

Households

Every age

Children (under 15)14.1%
Working age (15–64)63.9%
Seniors (65+)21.9%

What is built here

Detached houses65.6%
Semi-detached4.2%
Townhouses3%
Duplexes4.9%
Low-rise apartments16.2%
High-rise apartments5.3%

Own or rent

68%Owners

32%Renters

Across 48,435 households

When it was built

Mostly 1960 or earlier

1960 or earlier39%
1961–198034%
1981–199010%
1991–20008%
2001–20052%
2006–20102%
2011–20152%
2016–20212%

Share of occupied homes, by the era they were built in. Bars are drawn against the busiest era, not against each other, because the eras are not the same length. The eight shares are unlikely to total exactly 100: Statistics Canada rounds each era's count to the nearest 5 before publishing it, so we print what the census reports rather than adjusting a figure to make the column add up.

8.6%
Born outside Canada: 22.6%
Hold a degree or higher: 51.8%
Employment rate: 3%
Commute by transit: 88.3%
Commute by car: 1.7
Children per family: $74,768
Median income after tax: $96,888
Average household income: 11.8%
Living on a low income: $1,041/mo
Renters pay, per month: $980/mo
Owners pay, per month: $298,868
Median home value at census: 20.8%
Renters spending 30%+ of income on housing: 6%
Owners spending 30%+ of income on housing

Statistics Canada, Census of Population 2021. Added up from 213 census areas inside the boundary. Medians and rates are a population-weighted average of dissemination-area figures.

Sources: HOMEH listings, Statistics Canada, Census of Population 2021, OpenStreetMap, HOMEH school registry, Photo: © Wikimedia Commons contributors (CC BY-SA)

HOMEH Market Pulse Condo apartments only Through September 2026 Moderate sales history

What Condos in Thunder Bay Sell For

At least 56 condos changed hands in Thunder Bay over the 12 months to September 2026. Half sold above $364,643 and half below, 22.9% higher than the 12 months before. A typical condo found its buyer in 34 days — 6 days slower than a year ago.

8 of the last 12 months had at least 5 closed condos sales in Thunder Bay. Quieter months are left out rather than shown as a median over a handful of homes, so the totals here are a floor.

Median sold price: $365K; +22.9% year over year
Days to sell: 34; 6 days slower
Sales closed: 56; last 12 months
Per square foot: $305; from 7 sized sales

Three years of sold prices

The line is the median. The band is the middle half of every sale — how wide it runs tells you how much one condo here differs from the next.

$605K$461K$317K$173K

Oct ’24Jun ’25Mar ’26Sep ’26

Median sold price Middle half of sales

What buyers actually paid

$995,900

on a $1,000,000 asking price — under ask by $4,100

−10%Asking price+10%

Of the asking price: 99.6%
Sold over asking: 39.3%

From 56 sales that closed here in the last 12 months.

How fast it moves

Median days on market, month by month. Taller means slower.

Oct 2024Sep 2026

Terracotta marks the last 12 months.

Every month behind these charts — Thunder Bay, sales

Monthly closed sales in Thunder Bay
Month	Closed	Median	Middle half	Days	% of ask
Sep 2026	6	$385,000	$331K – $413K	24	100.0%
Aug 2026	6	$427,500	$218K – $510K	38	99.1%
Jul 2026	7	$390,000	$359K – $418K	17	100.0%
May 2026	7	$420,000	$346K – $470K	31	98.9%
Apr 2026	7	$265,000	$256K – $341K	25	102.0%
Mar 2026	5	$425,000	$290K – $575K	81	100.0%
Dec 2025	9	$425,000	$220K – $570K	44	99.1%
Oct 2025	9	$230,000	$203K – $300K	24	98.4%
Aug 2025	10	$357,500	$260K – $378K	61	97.5%
Jul 2025	6	$358,950	$302K – $440K	21	99.2%
Jun 2025	6	$285,000	$256K – $366K	22	100.0%
May 2025	8	$325,500	$264K – $400K	20	99.8%
Apr 2025	7	$245,000	$210K – $278K	17	98.0%
Feb 2025	10	$302,500	$260K – $409K	21	97.5%
Nov 2024	5	$240,000	$235K – $245K	32	98.0%
Oct 2024	9	$234,900	$220K – $270K	23	100.0%

What people ask about Thunder Bay

How much does a condo cost in Thunder Bay?

Condos in Thunder Bay sold for a median of $364,643 over the 12 months to September 2026, across at least 56 closed sales — half sold for more and half for less. That is 22.9% higher than the 12 months before it.

How long does it take to sell a condo in Thunder Bay?

A condo in Thunder Bay took a median of 34 days on the market over the 12 months to September 2026. Condos there closed at 99.6% of the asking price on average, with 39.3% selling over asking.

Compiled by HOMEH from sales reported closed in Thunder Bay on the Toronto Regional Real Estate Board MLS® System, through September 2026. Medians are taken over closed prices, not asking prices. Per-square-foot figures use the midpoint of the banded floor-area range MLS® carries, so they describe the group and not any one condo. Not an appraisal or an opinion of value.

Questions, answered

Common questions about condos for sale in Thunder Bay

How much is a condo in Thunder Bay?

The median asking price of the 14 condos for sale in Thunder Bay is $357,400, from $220,000 to $1,190,000. 12 are listed under $700K.

Condos under $700K in Thunder Bay

What are typical condo fees in Thunder Bay?

14 of the 14 condos for sale in Thunder Bay list a monthly maintenance fee. The median is $570/mo, and the middle half pay between $515 and $728 a month.

Work out what you can afford

Which Thunder Bay neighbourhoods have the most condos for sale?

Lakefront has the most, with 4 condos for sale, followed by College Heights (3) and Academy Heights (2).

Homes for sale in Lakefront

Keep looking

More Condos for Sale in Thunder Bay

137 homes are for sale in Thunder Bay. Browse by neighbourhood or home type below — and get the industry's highest Cashback Rebate when you buy with HOMEH.