Last updated
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 follow the national market: 4.39% fixed and 3.60% variable as of November 9, 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
| Down | Down payment | CMHC | Monthly |
|---|---|---|---|
| 5% | $20,035 | $15,227 | $2,191.15 |
| 10% | $40,070 | $11,180 | $2,057.87 |
| 20% | $80,140 | — | $1,774.21 |
| 25% | $100,175 | — | $1,663.32 |
Canadian mortgages use nominal rates compounded semi-annually (converted to an effective annual rate, then to your payment frequency). Chart shows cumulative principal and interest paid each year; ending balance trends down toward zero.
Total interest paid
$211,704
Total amount paid
$532,264
Principal + interest on the loan
Interest vs purchase price
53%
of home price goes to interest (illustrative)
Same loan amount, rate, and amortization as above. Semi-monthly and bi-weekly match your monthly cash flow; accelerated bi-weekly uses half the monthly payment every two weeks (13 monthly equivalents per year).
| Frequency | Payment amount | Total interest | Payoff time | Savings vs monthly |
|---|---|---|---|---|
| Monthly | $1,774.21 | $211,704 | 25 years | — |
| Semi-monthly | $887.11 | $210,799 | 24 years 11 months | $905 |
| Bi-weekly | $818.87 | $210,730 | 25 years | $974 |
| Accelerated bi-weeklyRecommended | $887.11 | $179,598 | 21 years 8 months | $32,106 |
Savings vs monthly shown on wider screens.
| 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 an example qualifying rate of 6.04% (a 4.04% contract rate + 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 follow the national market: 4.39% fixed and 3.60% variable as of November 9, 2026.
To afford Winnipeg's average home of $400,700 with 5% down at an example rate of 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.