Winnipeg's average home price is $400,700 as of February 2026, up 1.7% year-over-year — making it one of Canada's most affordable major cities. Manitoba charges a land transfer tax on property purchases, though first-time buyers qualify for a rebate of up to $2,000. Best 5-year fixed insured mortgage rates in Winnipeg are around 4.04% in 2026. Winnipeg's market is known for strong rent-to-price ratios, making it attractive for investors and budget-minded first-time buyers who cannot afford Vancouver or Toronto prices.
Manitoba (MB): provincial LTT and rebates apply at closing — not in payment results. Defaults ~$400,700 / 20% down.
20.0% of home price
Monthly payment
$1,791.00
Your selected frequency (Monthly): $1,791.00
Bi-weekly: $826.16 · Weekly: $412.98
Principal vs interest (life of loan)
| Down | Down payment | CMHC | Monthly |
|---|---|---|---|
| 5% | $20,035 | $15,227 | $2,211.89 |
| 10% | $40,070 | $11,180 | $2,077.34 |
| 20% | $80,140 | — | $1,791.00 |
| 25% | $100,175 | — | $1,679.06 |
| Year | Average Price | Change YoY |
|---|---|---|
| 2024 | ~$382,000 | +2.9% |
| 2025 | ~$393,000 | +2.9% |
| Feb 2026 | $400,700 | +1.7% |
| Purchase Price | LTT Rate |
|---|---|
| First $30,000 | 0% |
| $30,001–$90,000 | 0.5% |
| $90,001–$150,000 | 1.0% |
| $150,001–$200,000 | 1.5% |
| Over $200,000 | 2.0% |
On Winnipeg's average home of $400,700, Manitoba land transfer tax is approximately $5,764. First-time buyers qualify for a Manitoba LTT rebate of up to $2,000, reducing net LTT to approximately $3,764.
| Home Price | Minimum Down Payment | CMHC Insurance Required |
|---|---|---|
| Up to $500,000 | 5% (e.g. $20,035 on $400,700) | Yes |
| $500,001–$999,999 | 5% on first $500K + 10% on remainder | Yes |
| $1,000,000+ | 20% | No |
At Winnipeg's average price of $400,700 with 5% down ($20,035), your insured mortgage is $380,665 plus CMHC premium (~$15,227), totalling approximately $395,892. At the qualifying rate of 6.04% (4.04% + 2%), you need gross annual income of approximately $75,000–$85,000 to pass the stress test — among the lowest income requirements of any major Canadian city.
The average home price in Winnipeg is approximately $400,700 as of February 2026, up 1.7% year-over-year. Winnipeg is one of Canada's most affordable major cities, with detached homes averaging around $450,000 and condos around $220,000.
Manitoba charges a land transfer tax ranging from 0% on the first $30,000 to 2% on amounts above $200,000. On a $400,700 home in Winnipeg, the land transfer tax is approximately $5,764. First-time buyers qualify for a Manitoba rebate of up to $2,000.
Best 5-year fixed insured mortgage rates in Winnipeg are around 4.04% in 2026, with some lenders offering 3-year fixed from 4.20%. Variable rates are typically lower, around 3.35%–3.50%.
To afford Winnipeg's average home of $400,700 with 5% down at 4.04%, you need approximately $75,000–$85,000 in gross annual income to pass the mortgage stress test. This is one of the most accessible income thresholds among major Canadian cities.
For Winnipeg's average home of $400,700, the minimum down payment is 5% — approximately $20,035. Since the price is under $500,000, the full 5% rule applies. CMHC mortgage insurance is required.
Winnipeg's 2026 effective residential property tax rate is approximately 1.0–1.3% of assessed value, with a 3.5% increase approved for 2026. On a $400,700 home, annual property taxes are approximately $4,000–$5,200.
Educational estimates only. Not a lender pre-approval.