North Bay home values aren’t rebalancing like other Ontario cities
The share of lower-priced homes in Ontario is on the rise, but the numbers vary by municipality, and North Bay is bucking the trend.
New data from the Municipal Property Assessment Corporation (MPAC) shows homes valued under $500,000 make up nearly 24% of the Ontario market in 2026.
That’s up from a low of about 17% in 2022 and well below the 67% a decade ago.
Provincially, officials say it signals a rebalancing in the housing market, with condominiums leading the way.
North Bay, however, continues to see the number of lower-valued homes drop.
MPAC says a decade ago, 96% of homes in the city were under a half million dollars.
That fell to 75% in 2022 and 69% this year.
The corporation says there are regional differences with the provincial numbers, too.
They show Greater Sudbury and Sault Ste. Marie are seeing the same trend as North Bay.
Richard Coffinhttps://www.mynorthbaynow.com/Richard Coffin has been a reporter and news anchor on the radio in North Bay for over 25 years. From premiers to people in the neighbourhood, he enjoys connecting with newsmakers and writing stories that matter to area listeners on a variety of topics including healthcare, education, politics, sports and more.
