Community Info

There are many options for rental units available in Winnipeg including - apartments, houses, condos, townhouses, duplexes and shared accommodation.

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Winnipeg - Rental Market Trends1

Winnipeg came in well below the national average vacancy rate of 2.2 per cent. Winnipeg's vacancy rate remains consistently low - over the past eight years it has been at or below 1.5 percent. In 2008, Winnipeg recorded a vacancy rate of 1.0 percent. For 2009, vacancy rates in Winnipeg and the surrounding area will remain one of the the lowest in the country mainly due to non-construction of rental units and significant increase in migration.

Factors contributing to the low vacancy rate are Winnipeg's population increases over the past 7 years, consistently, Winnipeg is the destination for new immigrants who have a high propensity to be renters when they arrive in Canada. Second, people in Winnipeg like to rent. About 27% of Winnipeg's population is between 15 and 34 years of age. Third, there are less units to rent. According to Statistics Canada's Community Profile, the total number of rented dwellings has decreased by 2,000 units since 2001. There were rental buildings demolished or converted to condominiums use over this time and not enough new rental buildings constructed.

Rents will continue to increase in 2009. The average 2 bedroom apartment in 2008 was $769 increasing $30 from 2007. A two-bedroom unit that rented last year for $475.00, plus utilities, is now renting for $745.00, which is approximately a 45% increase. However, rent increases in purpose-built apartment rent units were moderate in most areas of the city including Lord Selkirk and Fort Garry.

1 - CMHC Winnipeg Rental Statistics 2008

 

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