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Terrace Bay, ON
Full City Profile · Ontario
Terrace Bay, ON
At a Glance
How Terrace Bay Compares to the U.S. Average
Each bar shows Terrace Bay's value as a percentage of the national average (100% = U.S. avg)
Is Terrace Bay a Good Place to Live?
Economy & Jobs
Terrace Bay residents earn a median household income of $86,000 , which is 14% above the national average of $75,149. Per capita income is $51,400. The unemployment rate stands at 9.0% (150% above the U.S. rate of 3.6%). 6.8% of residents live below the poverty line. The area is home to 47 business establishments.
Housing & Cost of Living
The median home value in Terrace Bay is $100,000 , 65% below the national median of $281,900. Median rent is $750/month, with 12.6% of renters spending more than 30% of income on housing.
Education
10.5% of adults in Terrace Bay hold a bachelor's degree or higher (69% below the national average). 35.2% have completed high school.
Climate & Weather
Terrace Bay has an average annual temperature of 36°F (2°C). Winters average 9°F in January while summers reach 59°F in July. The area gets 278 sunny days per year. Annual precipitation totals 32.0 inches.