In Winnipeg, rent for a 1-bedroom apartment ranges from $900 to $1,300 per month, and a 2-bedroom can be $1,200 to $1,800. Detached homes typically rent for $1,600 to $2,500+.
Buying a home in Winnipeg costs around $350,000 – $380,000. With a 5% down payment and a 4.44% mortgage rate, monthly mortgage payments could range from $1600 to $2000 (including property taxes).
Renting might be a better option if you’re unsure about staying long-term or don’t have enough for a down payment. Buying makes sense if you plan to stay long-term, want to build equity, and your mortgage payments are close to rent costs.