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A new study has revealed the areas in Canada with the most mortgage-free homeowners!

Barrie made the list!
Published May 17, 2024

Online gambling experts at Casivoo analyzed 2021 data from Statistics Canada on the number of private households in the country and their status. This included owners with a mortgage, owners without a mortgage, renters and subsidized housing. The areas with the highest percentage of mortgage-free homeowners were used to determine the ranking.   

Thunder Bay, Ontario ranks at the top, with 47% of homeowners being mortgage-free.

From a total of 37,700 private households,17,745 have paid off their mortgages and 19,950 have not – 53%.  

In second place is Peterborough, Ontario, with 45.2% of the private households without a mortgage. Peterborough had a total of 35,975 homeowners; 19,720 with mortgages and 16,260 without.   

Third in the ranking is St. Catharines-Niagara, Ontario, with 43.5% of homeowners having paid off their mortgage. Of the 126,980 homeowners in St. Catharines, 55,275 are mortgage-free and 71,710 are not.    

Victoria, BC and Windsor, Ontario round out the top 5!

If you’re wondering where Barrie, Ontario placed on the list. We placed last with 31.8% of homeowners having paid off their mortgage.  Of 57,315 households, 18,260 are mortgage-free and 39,060 are not – 68.2%. 

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