Thunder Bay

As of June 2026, Thunder Bay, Nipigon, Marathon have 256 active Airbnb and VRBO listings. This represents a 9% decrease from the previous year.

The average Airbnb or VRBO in Thunder Bay generates C$34K per year. High-performing properties earn C$52K/year, while low-performing properties earn C$11K/year. Declining supply paired with flat revenue suggests tightening inventory isn't translating to pricing power, indicating a market where occupancy rather than rates drives returns. The 4.7x gap between high and low performers at 56% average occupancy reveals significant performance variance despite constrained supply.

Airbnb and VRBO can be profitable in Thunder Bay. Average annual revenue is C$34K with 56% occupancy. High-performing properties earn up to C$52K/year. Declining supply coupled with flat revenue growth suggests tightening inventory without corresponding demand increases, while the substantial gap between average and top performers indicates meaningful performance variability within the market.

The average occupancy rate for Airbnbs and VRBOs in Thunder Bay is 56%. This occupancy level, combined with an average nightly rate of C$177, results in a RevPAR (revenue per available room) of C$59 per day.

4+ bedroom properties demonstrate the strongest performance in Thunder Bay, with annual revenue of C$58K. These properties balance operating costs and rental demand most effectively in the Thunder Bay market. Property performance varies significantly by location, amenities, and management quality.

Short-term rental regulations vary by jurisdiction in the Thunder Bay area. Thunder Bay: Lenient. No specific STR regulations or licensing requirements. Follows general zoning and business rules. Minimal enforcement. Nipigon: Lenient. No dedicated STR bylaws or permit requirements. Standard property tax and business rules apply. Little to no enforcement. Marathon: Lenient. No specific short-term rental regulations in place. General municipal bylaws and taxation apply. Minimal enforcement activity. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Thunder Bay Airbnb and VRBO market is currently showing balanced with strong demand conditions. Supply has declined 9% year-over-year, while RevPAR has increased 6%. This indicates healthy demand growth outpacing supply. The performance gap between high-performing ($51,882) and average listings ($34,123) suggests meaningful differentiation exists, while 56% occupancy indicates room for market expansion before supply constraints become limiting.

Launch around May, 2-3 months before peak fall season (August peaks). This pre-peak timing lets you build reviews when competition is 3% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (December-January) when gaining traction is harder.

The most common amenities in Thunder Bay listings include: Kitchen (97%), Tv (93%), Heating (87%), Washing Machine (73%), Air Conditioning (59%). Amenities that boost revenue the most include Lake Access, Hot Tub, Bbq, with Lake Access properties earning approximately 42% more (C$62K/year vs C$44K/year).

Monthly estimated revenue per listing in Thunder Bay over the last 12 months: May: C$2K, June: C$2K, July: C$2K, August: C$2K, September: C$2K, October: C$2K, November: C$2K, December: C$2K, January: C$1K, February: C$1K, March: C$2K, April: C$2K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Thunder Bay is C$177, up 11% year-over-year. By property size: 1-bedroom properties average C$123/night, 2-bedroom properties average C$169/night, 3-bedroom properties average C$230/night, 4+ bedroom properties average C$374/night. Rates peak in September and are lowest in January.

Guests in Thunder Bay book an average of 25 days in advance, down 20% from last year. By property size: 1-bedroom: 22 days, 2-bedroom: 26 days, 3-bedroom: 26 days, 4+ bedroom: 34 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Thunder Bay Airbnb and VRBO market has seen the following changes: supply declined 9%, revenue per listing increased 6%, occupancy rose 21%, average nightly rates increased 11%, and lead time decreased 20%. The combination of reduced supply and rising occupancy suggests strengthening demand fundamentals, though the significant gap between average and high-performing listings indicates uneven market conditions where property differentiation remains a key performance driver.

In Thunder Bay, Friday sees the highest booking demand while Monday has the lowest. Nightly rates peak on Friday and are lowest on Monday. Weekends show 10% higher occupancy than weekdays.