Best Places to Live 2024: Winnipeg Real Estate

+Since housing prices in the Winnipeg real estate market hit high in early 2022, they have since stabilized and eased to levels appealing for cost-conscious households. Unlike other major urban centres, the Winnipeg housing sector now offers prospective homeowners the chance to take advantage of its affordability attractiveness, allowing families to live in some of the best neighbourhoods in Winnipeg. Is it any reason why Winnipeg’s population has ballooned in recent years?

Now that the Winnipeg housing industry has calmed down without violent swings in home prices, many households are eyeing where they could live in Winnipeg. Indeed, like everywhere in Canada’s housing sector, supplies continue to be the top concern gripping the city, potentially making it harder to locate the best neighbourhoods in Winnipeg.

Where are the best places to live in Winnipeg in 2024? Here are our top picks in Winnipeg for buying a house based on affordability, walkability, population density, cultural and ethnic diversity, accessibility, and proximity to work, transit, schools, hospitals, amenities, and parks.

Best Places to Live in Winnipeg

River Heights

The cost of housing in this neighbourhood is above average for the market, but its proximity to schools and hospitals separates it from others on the list. Stroll along the Assiniboine River as you take in some of the most beautiful homes in the city. There are single-detached homes for families and working professionals, from century homes to ’50s-style bungalows to modern builds. Just six kilometres from downtown, it is an easy commute into the city centre. It has the perfect mix of big box stores and charming boutique shops on Academy Road.

Norwood Flats

This neighbourhood is just south of Winnipeg’s downtown. Norwood Flats in primary residential homes built before the 1960s. Find character at a reasonable price in this historic area. It is a top pick for young professionals for its proximity to work and entertainment downtown. Plenty of school options and proximity to a hospital make it a top choice for families. Outdoor lovers chose Norwood Flats for its parks and walking trails along the Red River.

Osborne Village

This is a genuinely affordable region, especially for young people. This trendy neighbourhood is filled with cafes, pubs, fine dining, bookstores, and boutiques. It is a fun, energetic community that is popular with young professionals.

Osborne Village was the neighbourhood in Winnipeg that experienced the most condominium sales in March, with the typical prices ranging between $150,000 and $174,999.

Fraser’s Grove

Boarding the Red River, there are homes on the riverfront. Close to downtown and access to green space provide the best of both worlds. This is a popular option if you are looking for great value for a home.

Scotia Heights

This is another one of the best neighbourhoods in Winnipeg, with affordable home options close to the downtown core. This community is bordered by parks and the river, making it another excellent choice for outdoor lovers. It has many community organizations and a vibrant ambiance.

Wolseley

There are lots of character homes in this fun neighbourhood. It is considered a more affordable neighbour, River Heights. Zoned for residential and commercial pretty, you’ll find one-of-a-kind shops. Downtown is known as the Granola Belt for its organic grocers and trendy shops. It’s easy to walk and bike all through one of Winnipeg’s best neighbourhoods.

Riverview

Some would argue that this is one of Winnipeg’s best-kept secrets. It is best known for its character homes, green space, and amenities. Sitting just south of downtown, most of the homes in this neighbourhood were built in the 190s and earlier. There are condo options for those looking for a different opportunity. Osbourne Village is found just north of Riverview and is filled with all the charming shops you want.

Old. St. Vital

Established by French settlers in 1822, it remains a robust francophone neighbourhood. This large neighbourhood features a wide diversity of housing options with newer builds. The area has it all for family living, with public libraries, community centres, and public pools. Like Osborne Village, Old St. Vital was near the top of the list to register high volumes of condo sales in one of the best places to live in Winnipeg.

Crescentwood

Mature trees, bustling streets, and great patios are all in this historic neighbourhood. There is always something happening in this neighbourhood, whether you are looking for a night on the town or just to grab a coffee. Like most of the best neighbourhoods in Winnipeg, it features mature trees and abundant green space.

West End

This is one of the most affordable neighbourhoods and best places to live in Winnipeg on this list. This established neighbourhood is close to the downtown core and multiple hospitals. This eclectic neighbourhood has so much to offer.

Waverley West

Waverley West is a suburb just outside of Winnipeg that was approved by the provincial government in 2005. It is quickly becoming a much-desired neighbourhood of Winnipeg, which is supported by new real estate association data that show it had the most residential-detached home sales in March.

Most Liveable Neighbourhoods in Winnipeg

As listed above, the most liveable neighbourhoods in Winnipeg are all close to green spaces, parks, retail shops, and transit. They boast many liveability factors that appeal to homebuyers in those neighbourhoods.

Winnipeg Liveability Trends

Liveability in Winnipeg is expected to continue to improve. “Developers in the region know that Winnipeg residents, like many Canadians, enjoy their own neighbourhoods, so they keep this perspective in mind when building and planning. Gone are the days where neighbourhoods have the bare minimum; the focus now is adding value to the properties with great neighbourhood amenities.”

A Breakdown of the Winnipeg Real Estate Market

According to the latest numbers from the Winnipeg Regional Real Estate Board (WRREB), the Winnipeg real estate market has enjoyed a mix of higher prices and solid demand. The real estate association reported that the average price of a home sold in Winnipeg climbed four percent from a year ago in August to $415,717. Additionally, sales rose two percent year-over-year, totalling more than 1,000 units.

Detached home prices swelled six percent to $424,164, and transactions inched higher by nine percent to 7,046 units.

Condominium prices advanced seven percent compared to the same time a year ago, reaching $277,155. Sales also increased 11 percent to 1,542 units. Attached sales totaled 716 units, up 17 percent year-over-year. Average prices for attached homes jumped nine percent over last year to just below $364,000.

A part of the reason for the notable gains in prices was shrinking housing stockpiles. Active residential listings tumbled five percent, with a little more than 4,000 units on the market.

“For the seventh time in eight months of 2024, MLS® sales across the three main property types of residential detached, condominiums, and residential attached homes increased over last year,” said Daphne Shepherd, the 2024-2025 President of the Winnipeg Regional Real Estate Board, in a statement “On a year-to-date basis, MLS® sales for the main three property types are also up over last year. Condominium MLS® sales were the lone property type to rise above the 5-year average both in August and on a year-to-date basis, signalling steady demand in the condominium market.”

But while Winnipeg is one of the most affordable cities in Canada, it also has one of the largest residential property tax rates in the country. In 2024, the municipal property tax rate is 2.64 per cent. Because of rising inflation and financial pressures, city officials have had to respond with higher levies.

Winnipeg Liveability

Winnipeg is Manitoba’s capital and the province’s largest city, with a population forecasted to reach 892,600 in 2024. Touted as the “gateway to the West,” Winnipeg boasts a diverse economy in sectors including trade, manufacturing, education, and health care. The city is also culturally diverse, with over 100 languages and nationalities represented here. Winnipeg is known for its unique winter experiences, colourful arts and festivals scene, unique neighbourhoods, and access to green space. Restaurants, museums, theatres, sports venues, and nightclubs are hot spots among residents and visitors alike.

Affordability, beautiful scenery, and a growing economy. What more could you ask for?

Ready to explore the Winnipeg housing market, at ground level? Connect with a RE/MAX Agent to start your search today.