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Housing Association determines wages needed to rent apartments in Thunder Bay

Thunder Bay has the second-highest average rental rates in Northern Ontario.
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(tbnewswatch.com file photograph)

Thunder Bay has the second-highest average rental rates in Northern Ontario.

That's according to the Ontario Non-Profit Housing Association, which compiled a list of how much a person needs to earn in order to an apartment in nearly two dozen cities across the province.

The average rent in Thunder Bay last year was $888. Assuming no more than 30 per cent of a person's before-tax income is spent on housing, they would need $35,520 a year, or $17.08 an hour to make that happen. A bachelor apartment's $574 average would need around $22,90 a year, $11.04 an hour, while a one-bedroom runs $738, needing $29,520 a year or $14.19 an hour.

Across Northern Ontario, Greater Sudbury had the highest average rental rate at $927, which needs $37,080 a year or $17.83 an hour. North Bay's $878 needs $35,120, $16.88 an hour, while Sault Ste. Marie was the lowest in the region at $819,$32,760 a year or $15.75 an hour.

To no one's surprise Toronto's apartment rates were the highest in the province. The average $1,251 needs $50,040 year or $24.06 an hour.

A person working full-time on minimum wage earns $22,880 before tax. Only six cities studied have affordable bachelor apartments for that amount of money. None have one-bedroom apartments for that salary.

 

Annual wages needed to affodr rent:

City Bachelor/ Studio One-bedroom Two-bedroom
Thunder Bay $22,960 $29,520 $35,520
Greater Sudbury $23,080 $29,760 $37,080
Sault Ste. Marie $22,320 $27,560 $32,760
Toronto $35,840 $42,680 $50,040

For mroe detailed breakdowns, visit the Ontario Non-Profit Housing Association online.

 



 





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