St. Thomas residents — compare top Canadian banks for savings rates, no-fee chequing, and mortgage options. St. Thomas is a growing city in Elgin County, attracting major investment including an Amazon distribution centre and the upcoming Volkswagen battery plant in nearby St. Thomas.
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 homes typically range from $450,000 to $600,000 and prices have risen as major employers including Amazon and the Volkswagen EV battery plant have announced operations nearby. First-time buyers may qualify for the Ontario FTB rebate if purchasing below $400,000.
No. Only Toronto charges a municipal LTT. St. Thomas buyers pay only the Ontario provincial Land Transfer Tax.
St. Thomas has full-service branches of TD, RBC, Scotiabank, BMO, and CIBC. Libro Credit Union also has a strong presence in Elgin County offering competitive mortgage and savings rates.
The Volkswagen PowerCo battery plant, one of Canada's largest industrial investments, is expected to bring thousands of jobs to St. Thomas and area, increasing housing demand and supporting home price growth.