Winnipeg Rent Report, October 2026

Winnipeg's asking rents stayed well below the national level in October 2026. Rentals.ca put the city's average asking rent across all property types at $1,653 per month, in the city table of its Rentals.ca and Urbanation National Rent Report published November 5, 2026. On the same all-property-type measure, the national average was $2,036, down 3.2% year over year in the 25th consecutive month of annual declines.

On the apartment and condo measure, Rentals.ca listed Winnipeg at $1,614, among the most affordable rents in the country. Manitoba apartment and condo asking rents were $1,614, down 0.5% from September and down 0.5% from a year earlier, a much smaller annual decline than the national apartment and condo rate of 2.5%. Over three years, Manitoba rents are still up 6.9%.

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.

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

On asking rents across all property types, Rentals.ca's city table lists Winnipeg one-bedroom units at $1,416 (up 1.1% over the year) and two-bedroom units at $1,755 (down 3.6%). Larger units are holding up at the provincial level: Manitoba three-bedroom apartment and condo asking rents rose 1.5% over the year to $2,020, one of three provinces in the report where three-bedroom rents increased. CMHC's all-apartments average of $1,404 sits below the $1,653 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.

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. 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 reported that purpose-built rental apartments posted the smallest annual decline of the three property types in October, down 2.1% to $2,040, while condo rents fell 5.5% to $2,048.

Rentals.ca's November report says Toronto and Vancouver are turning first, with both posting their first annual increase in apartment and condo asking rents after long runs of decline. It says the markets that peaked first in 2023 are the first to stabilize, and that other markets are earlier in the same cycle. Winnipeg did not see the same boom and decline, and Manitoba's 0.5% annual decline in apartment and condo rents is far shallower than the national 2.5%.

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 (a $2,000 monthly threshold in 2027), buildings first occupied after March 7, 2005 (exempt for 20 years) and social housing are exempt from the guideline. Landlords must give three months' written notice, and rent can go up once every 12 months.

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
• Manitoba rents are only slightly below last year, so price to current comparables rather than last year's rent
• 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 November 2026 report will publish on the last business day of November.