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City in Ontario

Condos for sale under $700K in Thunder Bay

12 condos in Thunder Bay are listed for sale under $700K, which is 9% of everything for sale. The most active neighbourhoods are 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 for Sale in Thunder Bay Under $700K

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)

Questions, answered

Common questions about condos for sale under $700K in Thunder Bay

How many condos in Thunder Bay sell for under $700K?

12 condos in Thunder Bay are listed for sale under $700K today, 9% of the 137 homes for sale. Their median asking price is $312,400.

All homes for sale in Thunder Bay

What kind of condo can I buy in Thunder Bay for under $700K?

Under $700K, Thunder Bay has condo apartments (12) for sale. Most have 1 to 2 bedrooms.

Condos for sale in Thunder Bay

Keep looking

More Homes 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.