Market Overview
Winnipeg's asking rents held close to last year's level in August 2026. Rentals.ca put the city's average asking rent across all property types at $1,646 per month, down 0.6% from a year earlier, in the city highlights of its Rentals.ca and Urbanation National Rent Report published September 9, 2026. On the same all-property-type measure, the national average was $2,035, down 4.8% year over year in the 23rd consecutive month of annual declines.
Manitoba moved one way over the month and the other over the year. Provincial apartment and condo asking rents fell 1.5% from July, the largest monthly decline of any province, but were up 0.2% from a year earlier, making Manitoba one of only two provinces with an annual increase, alongside Nova Scotia (+3.1%).
Vacancy stayed tight. The Canada Mortgage and Housing Corporation (CMHC) measured an overall purpose-built rental vacancy rate of 2.8% in October 2025 for the Winnipeg CMA, its most recent authoritative survey.
Average Rents by Unit Size
The table below shows CMHC's in-place averages for Winnipeg's existing purpose-built stock as of October 2025.
- Studio (CMHC, Oct 2025): $914 / month
- 1 Bedroom (CMHC, Oct 2025): $1,232 / month
- 2 Bedroom (CMHC, Oct 2025): $1,570 / month
- 3 Bedroom+ (CMHC, Oct 2025): $1,849 / month
- All apartments (CMHC, Oct 2025): $1,404 / month
Larger units are firming at the provincial level. Rentals.ca reported that Manitoba three-bedroom asking rents rose 3.1% over the year in August, one of three provinces in its report where three-bedroom rents increased. CMHC's all-apartments average of $1,404 sits below the $1,646 asking rent because CMHC covers long-tenured tenancies in purpose-built apartments, while Rentals.ca's all-types figure covers new listings of every property type.
Neighborhood Breakdown
Central and character neighborhoods command Winnipeg's highest per-square-foot rents, while established family suburbs and value quadrants offer the largest rent gaps per bedroom. CMHC surveys rents at the CMA level, so the areas below are described by character rather than by a fabricated neighborhood average.
Higher-demand, walkable areas
- Downtown and the Exchange District, office core and heritage lofts
- Osborne Village, dense and walkable with a strong lifestyle draw
- Corydon and Little Italy, restaurant and cafe scene
- West Broadway and Wolseley, character housing near the core
Best-value areas
- Charleswood and St. Vital, established family suburbs with more space per dollar
- Transcona and North Kildonan, value quadrants that typically offer the lowest per-bedroom rents in the CMA
Neighborhood-level rent averages fluctuate with listing mix. For current rent tables by CMHC zone, see the CMHC Winnipeg rent tables, which are updated on CMHC's schedule.
Supply and Vacancy
Winnipeg's rental market stayed tight in the October 2025 CMHC survey. A 2.8% overall vacancy rate keeps landlords in a strong position and gives tenants a smaller window to choose from.
Vacancy by unit type (CMHC, October 2025)
- Studio: 2.8%
- 1 bedroom: 2.6%
- 2 bedroom: 3.0%
- 3 bedroom or more: 3.0%
- Overall: 2.8%
With vacancy this low, well-kept units lease quickly across most of the city, and the pressure is on availability more than on price. Nationally, Rentals.ca's September report names the record volume of apartment completions underway as one of the near-term headwinds for rents, and purpose-built rental apartments posted the smallest annual decline of any property type, down 3.3% to $2,038.
Outlook
Rentals.ca describes the national outlook as increasingly uncertain. Its September report points to new US tariffs and Canadian counter-tariffs, the record volume of apartment completions and a declining population as near-term headwinds, partly offset by pent-up demand entering the market as affordability improves.
Manitoba's rent increase guideline is 1.8% for 2026, and the province has announced a 2027 guideline of 3.0%. Units renting for $1,670 or more a month in 2026 (rising to $2,000 or more in 2027), buildings first occupied after March 2005 and social housing are exempt from the guideline.
What this means for renters
- Asking rents remain well below the national average on the same all-property-type measure
- Vacancy near 2.8% means good units move quickly, so be ready to decide
- Best value continues to sit in Transcona, North Kildonan, and the family suburbs
- Insist on a written move-in condition report to protect your deposit
What this means for landlords
- Plan renewals around the 1.8% guideline for 2026 and the announced 3.0% for 2027, and check whether your unit is exempt
- Low vacancy supports steady leasing, but condition and retention still matter
- Complete a written condition report at move-in and move-out on every tenancy
- Quality photos and detailed listings still win the competition for good tenants
SQRFT's September 2026 report will follow the next Rentals.ca National Rent Report, which covers September data.
What it means for you
Turn the market shift into a smarter decision
If you own a rental
LandlordsKnow the guideline. Manitoba's rent increase guideline is 1.8% for 2026, and the province has announced a 2027 guideline of 3.0%. Units renting for $1,670 or more a month in 2026 (rising to $2,000 or more in 2027), buildings first occupied after March 2005 and social housing are exempt from the guideline.
Compete in a tight market. Vacancy sits near 2.8% and Winnipeg asking rents are close to last year's level. Well-kept units in walkable areas lease quickly, so retention and condition matter more than aggressive pricing.
Get the paperwork right. Manitoba requires a written condition report at move-in and move-out. It is your best defence against a deposit dispute when a tenant leaves.
If you rent
TenantsWinnipeg is affordable by national standards. Rentals.ca put Winnipeg's average asking rent across all property types at $1,646 in August, against a national average of $2,035 on the same measure.
Expect a tight search. With vacancy near 2.8%, good units move fast. Have your paperwork ready and be prepared to decide quickly on the right place.
Protect your deposit. Insist on a written condition report at move-in under Manitoba's Residential Tenancies Act. It is the record that matters if your deposit is disputed when you leave.
TIGHT MARKETS STILL MEAN DISPUTES
Low vacancy does not remove friction. Deposits and condition reports are still where tenancies go wrong.
sqrft.ca gives Manitoba landlords and tenants a Manitoba RTA compliant lease workflow, a timestamped move-in and move-out inspection, and a full audit log per tenancy. Sign the lease, record condition at move-in and move-out, and keep every document in one place.