Thunder Bay is one hot real estate market.
[ILLUSTRATION OMITTED]
The best place to buy real estate in Canada is in Thunder Bay, according to Money-Sense magazine.
In crunching the numbers for 35 cities, the publication said the northwestern Ontario city's real estate prices have appreciated faster than any other city in Canada, including Vancouver.
Property values have risen by eight per cent over the last five years.
A single-detached home typically goes for $215,000 and the average annual household income comes in at $81,000.
The magazine said it's a good spot for investors to scoop up income properties.
The publication took notice of Thunder Bay remodelling its local economy into a knowledge centre for the northwest, and its abundance of safe and secure public sector jobs in medicine, education and government.
The city's unemployment rate sits at 5.2 per cent.
Among the largest employers are the Thunder Bay Regional Health Sciences Centre, Lakehead District School Board, Lakehead University, the City of Thunder Bay and the...
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