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Thunder Bay Ranks First for Affordable Housing in Canada

January 28, 2010 – The 6th Annual Demographia International Housing Affordability Survey is now available to the public.  The Survey ranks Thunder Bay as number one among the most affordable housing markets in Canada and 20th internationally.

“Affording a home has been a challenge in communities around the globe,” said Mayor Lynn Peterson. “I am pleased to see that Thunder Bay still offers very affordable housing and lifestyles to our residents and newcomers.”

The survey by the Frontier Centre for Public Policy compared 272 cities in Australia, Canada, Ireland, New Zealand, the United Kingdom and the United States.

The report includes detailed information about housing affordability, land rationing, major trends, infrastructure, housing starts, recent developments in the industry and much more.

The Demographia Survey uses the “Median Multiple” (median house price divided by gross annual median household income) to assess housing affordability. Using data for 3rd quarter 2009, Thunder Bay had the lowest median house price ($128,200) and yet the median household income of $57,000 was in line with many of the other Canadian municipalities surveyed, some with house prices two to four times higher.

The survey is available on the City’s website at: Select Doing Business.

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Contact: Mayor Lynn Peterson, 625-3600
Steve Demmings, CEO, Thunder Bay Community Economic Development Commission, 625-3960