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About Manitoba

More About: Living In Manitoba

Manitoba is one of the three prairie provinces and has a population of roughly 1.2 million. Here are some quick facts about the province:

  • About 60% of the province's population lives in the capital city of Winnipeg and its suburbs
  • Winnipeg has the coldest winters of any major Canadian city
  • Home to over 100,000 lakes, Manitoba has one of the highest rates of vacation home ownership in the country. This can likely be attributed to the province's housing affordability
  • Manitoba enjoys more than 2,300 hours of sunshine per year, with southern Manitoba seeing up to 16 hours of daylight during peak summer months
  • Manitoba's electricity rates are consistently among the lowest in the world

5 Things You Need To Know About Buying In Manitoba

  1. The average home price in Manitoba is roughly $255,000 – that's almost $150,000 below the national average. Manitoba remains one of the most affordable Canadian provinces
  2. Along with Alberta, the Manitoba real estate market has continued to see home sales increases in recent years, while the rest of the country has struggled
  3. Manitoba has benefited from an influx of new immigrants, which has placed pressure on housing demand and driven up prices and sales
  4. Housing starts in prairie provinces are expected to fall in 2015
  5. Mortgage interest rates are expected to increase, as Canadian exports, investments, job growth and incomes improve. Once the economy is back to a comfortable, healthy place, we should see mortgage rates start to rise.

Frequently Asked Question: What is a 'housing start'?

A 'housing start' is a term used in the real estate world to describe new home constructions. This is often used as an indicator of economic conditions. Generally, a prosperous region will have high levels of housing starts.

Manitoba Housing Statistics

The Manitoba housing market is one of the strongest in the country and is expected to continue to flourish. The province offers a high quality of life with affordable living.

Property Prices: Low Quality of Life Index: High
Cost of Living: High Traffic Index: Moderate

Buying Property in Manitoba – Important Links

Thinking of buying a home in Manitoba? Here are some important links to help you learn more about the province and get you started on your mortgage journey in Manitoba:

Get Manitoba regional housing statistics from the Canada Mortgage and Housing Corporation.

Ever wonder what everyday items will cost you in Manitoba? You can compare the cost of living across Canada and around the world here.

Are you new to Canada? Manitoba is very ethnically diverse and has a number of resources available to immigrants, aimed at providing a solid foundation for new Canadians.

Health care varies from province to province. Find out all you need to know about the Manitoba health care system and how to qualify for coverage here.

Get up to speed on provincial politics – learn more about the Manitoba provincial government here.

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Mortgage Help

  • What will my monthly mortgage payments look like?

    Calculate your payment schedule, how long it will take you to pay off your mortgage, and ways to save.

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  • How much of a mortgage can I afford?

    Want to set a budget for your home shopping? Determine how much you can afford - and how much it will cost you.

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  • How much will it cost me to break my mortgage?

    Thinking about breaking your mortgage early and wondering how much it will cost?

    Penalty Calculator »

Blog: MoneyWise


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