Parklane Townhomes
930 Neebing Av,
Thunder Bay, ON P7E 3L5
$1,799 - $1,899
3 Beds
Rental Market Trends in Thunder Bay, ON
What is the average rent in Thunder Bay, ON?
$1,504/month
Average Rent
683 Sq Ft
Average Apartment Size
+0.7%
Increase in the Last Year
As of April 2026, the average rent in Thunder Bay, ON was $1,504/month. When you rent an apartment in Thunder Bay, you can expect to pay as little as $1,321 to as much as $1,893, 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 0.7%, which averages out to $11 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 April 2026
Legend
2025
2026
Rent Ranges in Thunder Bay, ON
Last Updated April 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
29%
$1,001 - $1,500/month
57%
$1,501 - $2,000/month
14%
Above $2,000/month
What salary do I need to live comfortably in Thunder Bay, ON?
Because the average rent in Thunder Bay is $1,504, you’ll want to make about $5,013 per month or $60,156 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 help determine how much to budget for rent.
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.
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.