St. Thomas residents — compare top Canadian banks for savings rates, no-fee chequing, and mortgage options. St. Thomas is Elgin County's city, historically important for railways and now growing rapidly.
Population ~42,000 · Updated 2025Rates and features as of 2025. Always verify directly with the institution.
St. Thomas buyers pay Ontario LTT only — no municipal land transfer tax applies here.
Rates: 0.5% ≤$55K · 1.0% $55K–$250K · 1.5% $250K–$400K · 2.0% $400K–$2M · 2.5% above $2M. FTB rebate: full ($4,000) if price ≤$368,000, partial up to $400,000, zero above $400,000.
Local answers for St. Thomas home buyers and savers.
St. Thomas home prices typically range from $450,000 to $580,000. The city has grown significantly due to proximity to London and a major Amazon fulfillment centre investment bringing jobs.
No. Only Toronto charges a municipal MLTT. St. Thomas buyers pay only the provincial Ontario Land Transfer Tax.
St. Thomas has TD, RBC, Scotiabank, and BMO branches, plus local credit union options. The growth from Amazon and other employers has expanded financial services in the area. EQ Bank and KOHO offer strong digital alternatives.
Amazon's major fulfilment centre investment brought thousands of jobs and increased housing demand significantly. This upward pressure has accelerated price appreciation, though St. Thomas remains more affordable than London or the GTA.