THUNDER BAY, ON – A new study has revealed that Thunder Bay boasts the highest percentage of mortgage-free homeowners in Canada.
According to Casivoo, a Canadian tech and iGaming company, nearly half (47%) of private homeowners in the city have paid off their mortgages. This translates to 17,745 out of 37,700 households enjoying complete homeownership.
“It’s interesting to see that a number of areas within Ontario dominate the top 10 rankings,” a Casivoo spokesperson noted. “The locations in the lead ranking are perhaps more attractive to older homeowners who are more likely to have paid off their mortgage.”
Peterborough, Ontario, secured the second position with 45.2% of homeowners mortgage-free, followed by St. Catharines with 43.5%.
Interestingly, Canada’s priciest real estate markets, Vancouver and Toronto, ranked lower on the list, with 40.9% and 38.3% mortgage-free homeowners, respectively.
This data suggests that Thunder Bay’s housing market may be more affordable and attractive to those seeking to achieve full homeownership.
