A new report shows Winnipeg’s rental market saw a major increase in rental supply over the last year, however, strong demand has kept vacancy low.
According to the Canadian Mortgage and Housing Corporation’s (CMHC) Fall 2024 Rental Market Report, Winnipeg’s rental supply increased by 5.5 per cent, which is one of the highest growth rates across all census metropolitan areas.
However, despite this growth in supply, high demand kept vacancy rates low as the city saw significant growth in people aged 15 to 24 and non-permanent residents.
The report notes that Fort Garry saw the highest rent growth, despite the fact that it accounted for 27.9 per cent of the increase in rental stock.
According to the CMHC report, an overall rent increase combined with lower vacancy rates for most affordable units has made rentals more expensive in Winnipeg. It found the average rent for a one-bedroom grew five per …