This page has been updated with CREA HPI Tool data for July 2026 (benchmark prices), and WRREB data released in March 2026 for the February 2026 period (average price and sales).
- MLS HPI composite benchmark: $392,900 (+3.0% year-over-year, July 2026)
- Single-family benchmark: $414,000 (+2.8% YoY, July 2026)
- Townhouse benchmark: $342,800 (+2.9% YoY, July 2026)
- Apartment benchmark: $236,600 (+2.9% YoY, July 2026)
- Average home price in Winnipeg (est., February 2026): ~$400,000 (est. from total dollar volume)
- Average condo price (February 2026): $284,086 (4% year-over-year increase – highest February on record)
- Total sales (February 2026): 786 (11% year-over-year decrease)
- Active listings (February 2026): 2,563 (-8% year-over-year)
- Months of supply (February 2026): 3.3
- Lowest mortgage rate in Winnipeg
MLS HPI Benchmark Price by Property Type – July 2026
These are the real MLS HPI benchmark prices for Winnipeg from CREA’s HPI Tool, the most current data available:
| Property Type | Benchmark Price | Year-over-Year Change |
|---|---|---|
| Composite | $392,900 | +3.0% |
| Single-Family | $414,000 | +2.8% |
| Townhouse | $342,800 | +2.9% |
| Apartment | $236,600 | +2.9% |
Average home price by property type in Winnipeg (February 2026 estimate)
These are the average home prices by property type in Winnipeg, from the most recent full breakdown (data released March 2026 for the February 2026 period).
| Home Type | Home Price | Year-over-Year Change |
|---|---|---|
| All Home Types | ~$400,000 | ~+1% (est.) |
| Detached | ~$458,000 | Even (per WRREB) |
| Attached | ~$340,000 | Est. |
| Condominium | $284,086 | +4% |
Condominiums reached their highest February average price on record. Detached prices were statistically even with February 2025. MLS® sales lagged behind 2025 but tracked more in line with 2024 levels.
Winnipeg market metrics
Key market indicators for Winnipeg as of February 2026:
| Metric | Value | Year-over-Year Change |
|---|---|---|
| Total Sales | 786 | -11% |
| Active Listings | 2,563 | -8% |
| Months of Supply | 3.3 | — |
| Total Dollar Volume | $314M+ | -10% |
While sales declined 11% year-over-year, the Winnipeg Regional Real Estate Board noted this tracking is more in line with 2024 levels. With 3.3 months of supply, the Winnipeg market remains balanced. The decline in active listings (-8%) while prices hold firm suggests continued tight conditions in the most popular segments.
How much income would it take to afford a home in Winnipeg?
This table shows how much household income it would take to afford a home based on February 2026 Winnipeg home prices.
| Home Type | Home Price | Mortgage | Income Required |
|---|---|---|---|
| All Home Types | ~$400,000 | $320,000 | $107,000 |
| Detached | ~$458,000 | $366,400 | $118,000 |
| Attached | ~$340,000 | $272,000 | $95,600 |
| Condominium | $284,086 | $227,269 | $84,900 |
Winnipeg is one of the most accessible housing markets among major Canadian cities. A household earning approximately $118,000 can afford the average detached home — compared to $271,717 in Toronto or $204,529 in Calgary. Condominiums are accessible to households earning as little as $85,000.
The income to afford calculation uses the following inputs:
- Down payment of 20% to avoid mortgage default insurance
- Mortgage rate of 4.04%
- Amortization period of 25 years
- Gross debt service (GDS) ratio of 32%
- Property tax of $354 per month
- Heating costs of $175 per month (slightly higher due to colder climate)
Key trends in the Winnipeg housing market
Affordability draws interprovincial migration
Winnipeg’s affordability advantage continues to attract buyers from more expensive provinces. With detached homes averaging approximately $458,000 — less than what a condo costs in Toronto or Vancouver — Winnipeg offers homeownership opportunities that have become unattainable in many other Canadian cities. This affordability narrative is particularly compelling for immigrants and young families who are transitioning from renting to homeownership.
Immigration driving demand
Manitoba’s Provincial Nominee Program has been a significant source of immigration, with many newcomers settling in Winnipeg. A large pool of recent Permanent Residents who arrived between 2021 and 2024 are now transitioning from renting to first-time homeownership, fuelling robust demand in the entry-level detached segment.
Tight inventory in the detached segment
Active listings in Winnipeg declined 8% year-over-year even as the spring market approaches. This persistent shortage — particularly in the detached segment — continues to support prices. The WRREB noted that recent Permanent Residents who arrived between 2021 and 2024 are now transitioning from renting to first-time homeownership, fuelling robust demand in the entry-level detached segment.
Economic resilience and diversification
Winnipeg’s economy is diversified across manufacturing, transportation, financial services, agribusiness, and government. Major employers include Great-West Lifeco, Canada Life, Richardson International, Boeing, and New Flyer Industries. This economic diversity provides stability through economic cycles, though the city’s export-heavy economy (particularly agriculture) can be sensitive to global trade conditions.
Notable areas in Winnipeg
Winnipeg offers a range of neighbourhoods at various price points:
- River Heights and Crescentwood — Desirable central neighbourhoods with mature trees, character homes, and walkable amenities along Corydon Avenue. Detached homes typically range from $400,000 to $700,000.
- Wolseley and West Broadway — Eclectic, artsy neighbourhoods near the Assiniboine River with older homes and a strong sense of community. Prices range from $250,000 to $500,000.
- Tuxedo and South Tuxedo — Winnipeg’s most upscale residential area with larger lots and high-end homes. Detached homes range from $500,000 to over $1 million.
- St. Vital — A popular family-oriented suburb in the south with a mix of older and newer homes. Detached homes generally range from $300,000 to $500,000.
- Bridgwater — One of Winnipeg’s newest master-planned communities in the southwest, popular with young families. Newer detached homes typically range from $400,000 to $600,000.
- Transcona — An established community on the east side with strong roots and affordable housing. Detached homes range from $250,000 to $400,000.
- North Kildonan — A suburban area in the northeast offering moderate pricing and proximity to the Red River. Homes typically range from $300,000 to $450,000.
- The Exchange District — Winnipeg’s heritage warehouse district, home to condos and lofts in converted heritage buildings. Condo prices range from $150,000 to $350,000.
Affordability comparison: Winnipeg vs. other major cities
Winnipeg’s affordability advantage is one of the most significant among major Canadian cities:
| City | Average Home Price | Income Required |
|---|---|---|
| Toronto (GTA) | $1,022,143 | $215,828 |
| Vancouver (GVA) | $1,165,300 | $286,589 |
| Ottawa | $641,436 | $142,484 |
| Calgary | $616,686 | $163,500 |
| Edmonton | $464,000 | $128,220 |
| Winnipeg | ~$400,000 | $107,000 |
A Winnipeg household needs roughly half the income of a Toronto household to afford an average home. This affordability extends beyond housing — Manitoba does not have the highest provincial income tax rates in Canada, and the overall cost of living is moderate.
Manitoba land transfer tax
Manitoba charges a land transfer tax on all real property transfers. The tax is calculated on a tiered structure:
| Property Value | Rate |
|---|---|
| First $30,000 | 0% |
| $30,001 to $90,000 | 0.5% |
| $90,001 to $150,000 | 1.0% |
| $150,001 to $200,000 | 1.5% |
| Over $200,000 | 2.0% |
On a home purchased at Winnipeg’s average price of ~$400,000, the Manitoba land transfer tax would be approximately $5,650. First-time home buyers in Manitoba may be eligible for a land transfer tax rebate.
Use our land transfer tax calculator to estimate the exact amount you would owe.
Related Winnipeg housing calculators
If you are buying a home in the Winnipeg area, these calculators can help you plan:
- Mortgage Calculator — Estimate monthly payments on a Winnipeg home
- Mortgage Affordability Calculator — How much home can you afford?
- Income to Afford Home Calculator — Salary needed at Winnipeg price points
- Mortgage Insurance Calculator — Calculate CMHC premiums for down payments under 20%
- Land Transfer Tax Calculator — Calculate Manitoba land transfer tax
- Closing Costs Calculator — Budget for all costs beyond the purchase price
- Mortgage Stress Test Calculator — Qualify under the stress test
- Mortgage Rates — Compare current mortgage rates
More housing market reports
- Manitoba Housing Market — Provincial overview
- Saskatoon Housing Market — Central prairie market
- Regina Housing Market — Saskatchewan’s capital
- Edmonton Housing Market — Neighbouring Alberta market
- Calgary Housing Market — Alberta’s largest market
- Canada Housing Market Overview — National trends, prices, and provincial comparisons
- First-Time Home Buyer Guide — Programs, incentives, and step-by-step buying process
Data Sources
The housing market data in this report is sourced from: