Parklane Townhomes
930 Neebing Av,
Thunder Bay, ON P7E 3L5
3 Beds | $1,899 - $1,999
Rental Market Trends in Thunder Bay, ON
Updated July 2026
The average rent in Thunder Bay, ON is $1,505/month.
$1,505/month
Average Rent
683 Sq Ft
Average Size
+0.8%
Change / Year
60
Available Apartments
Thunder Bay rent varies by unit size and layout:
- Studio apartments in Thunder Bay average $1,322 per month.
- One-bedroom apartments in Thunder Bay average $1,505 per month.
- Two-bedroom apartments in Thunder Bay average $1,688 per month.
- Three-bedroom apartments in Thunder Bay average $1,954 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Thunder Bay, ON?
In the past year, rent has increased by 0.8%, which averages out to $12 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Thunder Bay, ON
July 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 $1,505, you’ll want to make about $5,016 per month or $60,192 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 neighbourhoods?
Use the tool below to compare Thunder Bay, ON to other nearby cities and neighbourhoods. The Apartments.com neighbourhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Thunder Bay Area GuideApartment Communities in Thunder Bay We Think You'll Love
Frequently Asked Questions
What is the average rent in Thunder Bay?
The average rent in Thunder Bay is $1,505 per month, which is 14.4% lower than the national average of $1,759.
Are rents going up or down in Thunder Bay?
Rents in Thunder Bay, ON are increasing, with prices up 0.8% year-over-year and $12 more per month.
What rent range is most common in Thunder Bay?
In Thunder Bay, ON, 57% of apartments fall between $1,501 - $2,000/month, though prices may vary depending on location and other factors.
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.