This Ontario city is trying to lure residents from Toronto with its cheap cost of living
Alberta's large-scale campaign to try and lure people to leave Toronto for greener (read: cheaper) pastures elsewhere in the country was in some ways considered a success, and one Ontario city has taken note and launched a similar initiative of its own.
Taking advantage of the ongoing trend of people relocating from the GTA to more affordable locales, Thunder Bay is trying to sell its lower cost of living to those sick of T.O.'s untenably high real estate and rent prices.
There are no cheaper options anywhere else in Canada. Especially with jobs available for you to support yourself with one.
— Photography by Douglas 🍁📷🍁 (@DarkWaterPhotos) February 6, 2024
As of this month, the northern city has revamped and relaunched marketing efforts toward people in metropolises like Toronto — especially those who work from home — asking them to consider the 16-hour move for a less expensive and more comfortable way of life.
"In light of recent survey results indicating a growing trend towards urban relocation for affordability, the Thunder Bay Community Economic Development Commission (CEDC) is taking proactive steps to address this shift," a social media post from the named commission this week reads.
"The CEDC is revitalizing its successful 'Work from Thunder Bay' campaign, targeting the major urban centers identified in the survey. This campaign, aimed at remote workers, emphasizes Thunder Bay’s unique blend of affordability, high quality of life, urban amenities and proximity to nature as compelling reasons to make it their homebase."
The survey referred to in this case is one from Royal LePage that states that around half of those living in Canada's large urban centres — 51 per cent in Toronto specifically — are open to moving to places with more affordable real estate markets.
"Half of respondents (50 per cent) say they would consider buying a property in one of Canada’s most affordable Canadian cities if they were able to find a job or work remotely. Among renters in these regions, 60 per cent say they'd be willing to relocate, while 45 per cent of current homeowners say they would consider it," the report reads.
It also identifies Thunder Bay as the most affordable city in Canada, with the best "affordability factor" of 22.2 per cent based on the median household income of $84,400 per year and average home price of just $299,300.
The standard home in Toronto, by comparison, is now around $1,165,691, even in the face of a drastic drop in market activity and a shockingly high number of properties coming to market.
— Mike Filipetti (@filipetti) May 31, 2024
Other places that have tried to appeal to the Toronto crowd with lower living costs include Timmins, Smooth Rock Falls, London and Cochrane, Ontario.
@visitthunderbay/Instagram
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