Winnipeg Rent Report, July 2026

Winnipeg remained one of Canada's most affordable and tightest rental markets through July 2026. The Canada Mortgage and Housing Corporation (CMHC) recorded an average rent of $1,404 per month across all purpose-built apartments in the Winnipeg CMA in its October 2025 Rental Market Survey, well below the national average asking rent of $2,037 for July 2026 reported by Rentals.ca and Urbanation.

The Rentals.ca and Urbanation National Rent Report for July 2026 did not break out a separate Winnipeg all-types city average, so this report leads with CMHC's authoritative in-place figures rather than an estimated asking rent. Nationally, the average asking rent was down 4.0% year-over-year, and Manitoba rents have been roughly flat to slightly down year-over-year in recent readings.

Vacancy stayed tight. CMHC measured an overall purpose-built rental vacancy rate of 2.8% in October 2025, among the lowest of any major Canadian metropolitan area. Low vacancy and low rents together are what make Winnipeg unusual: it is both affordable and hard to find a place in.

Winnipeg's per-bedroom rents are among the lowest of any major Canadian market. The table below shows CMHC's in-place averages for the 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

These are in-place averages across the whole rental stock, including long-tenured tenancies that are protected by Manitoba's 1.8% rent increase guideline. Asking rents on newly listed units can run higher, because turnover lets a landlord reset a unit to current market. Even so, Winnipeg's totals sit far below the national average asking rent, keeping it one of the most affordable major markets in the country.

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.

Winnipeg's rental market stayed tight in the October 2025 CMHC survey, with vacancy well below the levels seen in fast-building markets like Calgary. 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 and rents this affordable, well-kept units lease quickly across most of the city. That balance is the opposite of a high-supply market: the pressure is on availability rather than on price, which is why Winnipeg tenants often move fast when the right unit appears.

The near-term outlook for Winnipeg is continued affordability paired with continued tightness. In-place rents remain far below the national average asking rent, and Manitoba's 1.8% guideline caps most existing tenancies for 2026, so long-tenured renters are well protected from sharp increases.

Because vacancy sits near 2.8%, availability rather than price is the binding constraint for most tenants. New listings can carry a premium over CMHC in-place averages, but the overall market stays one of the most affordable of any major Canadian metro.

What this means for renters

• Rents remain among the lowest of any major Canadian market
• 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

• The 2026 guideline is 1.8%, effective January 1, 2026, for most existing tenancies
• 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 August 2026 report will publish on the last business day of August.