Photo: Andre Carrotflower · CC BY-SA 4.0Homes in Terrace Bay are worth 86% less than the median of Ontario’s towns
Owners put the median home at $100,000 at the 2021 census; for Ontario’s towns the median is $695,000. For Terrace Bay there is no published sale price, as for every town in Ontario. On the 2024 assessment, the middle residential property is valued at $74,000. Ontario’s assessments are still on MPAC’s values of 1 January 2016, far below today’s prices, so they compare only with other Ontario towns.
What Terrace Bay’s homes are worth, two ways
Each source sits beside its own median for Ontario’s towns; none compares across provinces, which value homes in their own ways. The census asks owners what their home would sell for, so the values are estimates from May 2021.
median, owners’ estimate
- Average
- $112K
- Owners
- 560
- Ontario’s towns
- $695K
- The typical Canadian town
- $406K
all residential, MPAC 2016 base
- Houses
- $80K
- Properties
- 895
- Ontario’s towns
- $232K
Census 2021 (Statistics Canada); Canadian Housing Statistics Program, tables 46-10-0099 and 46-10-0093; Québec rôle d’évaluation foncière 2026 (MAMH).
87% of Terrace Bay’s homes are detached houses, where Ontario’s towns have 60%
People lived in 715 homes in Terrace Bay at the 2021 census. Half or more were standing by 1980.
Homes by period of construction the tick is the median of Ontario’s towns
Homes by kind
| Terrace Bay | Ontario | Canada | |
|---|---|---|---|
| Condominiums | 3% | 7% | 8% |
| Needing major repairs | 8% | 6% | 6% |
| Too small for the household | under 1% | 5% | 3% |
| Households in core housing need | 14% | 9% | 7% |
Census 2021 (Statistics Canada): occupied private dwellings; core housing need as Statistics Canada defines it. Ticks and columns are medians of the towns and neighbourhoods of 2,500 or more.
Building behind Ontario’s towns: 1.4 new homes a year per 1,000 in Terrace Bay, against 15
Terrace Bay issued permits for 2 new homes from 2018 to 2023, or about 1 a year. Most were houses: 50% went into single-unit buildings, against 66% for Ontario’s towns.
The busiest year: 2022, with 1 new homes
A year with no report is left out.
New homes a year per 1,000 homes
Statistics Canada, tables 46-10-0087 (building permits by census subdivision, 2018–2023: dwelling units created, new construction and conversions) and 34-10-0292 (monthly, metro areas). Per 1,000: units a year over 2019–2023 against occupied homes in 2021.
Terrace Bay is 86% below the $695,000 median of Ontario’s towns
871 of Ontario’s towns (2,500 people or more), by median value at the 2021 census, dearest first.
Census 2021, owners’ estimates; towns and neighbourhoods of 2,500 or more, no city as a whole, no reserve.
Lower values near Terrace Bay: Schreiber
Next to Terrace Bay: 2021 census values and the share of owners. Terrace Bay has few close neighbours with figures, so the list reaches 12–105 km out.
| Town | Median home value | Average | Owners | km |
|---|---|---|---|---|
| Terrace Bay | $100K | $112K | 78% | |
| Schreiber | $75K | $110K | 82% | 12.3 |
| Marathon | $150K | $148K | 76% | 54.2 |
| Nipigon | $134K | $151K | 93% | 89.3 |
| Manitouwadge | $100K | $112K | 79% | 100 |
| Geraldton | $120K | $146K | 77% | 105.3 |
Census 2021 values; km.
Questions about property prices in Terrace Bay
Is Terrace Bay expensive for Ontario?
Less than most: Ontario’s towns have a median of $695,000, and Terrace Bay sits below it.
How many households in Terrace Bay are in core housing need?
More than most: 14% of households in Terrace Bay, where Ontario’s towns sit at 9%.
What are houses and condos assessed at in Terrace Bay?
A house is assessed at a median $80,000 (2024); condos are too few to count.
Sources: Statistics Canada, Census of Population 2021 · Statistics Canada, Canadian Housing Statistics Program · Statistics Canada, building permits (tables 46-10-0087 and 34-10-0292). Under the Statistics Canada Open Licence.
Adapted from Statistics Canada (Census of Population 2021, population estimates 2025, 2021 census boundaries) under the Statistics Canada Open Licence; this does not constitute an endorsement by Statistics Canada. Neighbourhood names in some cities © OpenStreetMap contributors (ODbL).