The COST of Living in Winnipeg, Manitoba - The numbers broken down to live in this prairie province!

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  • Опубликовано: 1 фев 2022
  • Stick around until the end when we talk about home affordability based on household income! Winnipeg is known as one of the more affordable cities to live in, in Canada - but lets break down the cost of living in Winnipeg MB just so you can see what it is like living in this prairie province!
    Let’s start with the biggest expense you will likely incur, housing. In Manitoba, like elsewhere in Canada, you need a 5% down-payment to purchase a home. This percentage is based on the price of a home you are buying. Monthly payments are broken down in the video for purchasing a home, so check it out!
    Rental properties are also fairly competitively priced as well. The rental vacancy rate in Winnipeg is usually on the low side of around 3% per month, and an average monthly rental amount for a 2-bedroom apartment between $1000 - $1300.
    The next expense you are going to want to factor in is Transportation. Our public transit systems here are not great - and given our climate, waiting for a bus in the Winter is less than ideal. The majority of households here have two vehicles as a result. Depending on your personal situation, this might mean two monthly car payments. Other things to factor in here, are Winter Tires for that vehicle. While it is not a legal requirement, it is definitely a strong suggestion! Usually you can get several years out of your Winter tires as you swap them out with your summer tires in the spring. Gas prices in Manitoba do tend to be on the lower side when compared with other Canadian Provinces - and we don’t pay HST on our gas, we just pay GST (or 5%), which tends to make it far less expensive than our neighbours to the East (Ontario). It is not uncommon for people coming to Winnipeg from Northwestern Ontario to gas up at Prawda before heading back across the border, just because there are some savings to be had there!
    Groceries
    In Winnipeg, our pricing for most consumer goods are quite affordable. For a family of 4, living within Winnipeg, if you are good at meal planning, etc. then you should be able to feed a family of four for under $600 per month.
    Utilities/Cable/Internet
    It will depend on your provider, but we do pay higher than average fees for our mobile phones here. I think my monthly cell phone payment is around $70, but that is actually quite low because I have just continued to buy new phones over the years and not update my contract. For TV/Internet, it is usually around $120 - $140 per month to get connected.
    Healthcare
    Keep in mind that in Canada, we have universal health-care system. We do pay for it in our taxes, but we are among some of the lowest cost in all industrialized countries. We also happen to have some world-class hospitals, right within Winnipeg.
    Taxation:
    Our tax rates - We are one of the more highly taxed provinces in Canada - sitting at 8th most taxed in Canada, but the highest taxed of all the Prairie Provinces. See table here: www.taxtips.ca/taxrates/taxco.... The numbers that apply to you will be specific to your situation and income bracket, but if you are looking for a tax haven, Manitoba might not be it.
    Average Income:
    According to the 2016 Census, the median household income here before taxes is around $71,000. We are still awaiting the 2020 numbers but for now, we will use these numbers and go from there!
    In the video we break this down so that you can determine what kind of home you can afford at a variety of different price points! Just as a disclaimer, I am not a mortgage broker, and everyone’s situation is specific, so these next few metrics are VERY rough guidelines, just to give you an idea of affordability in Winnipeg. But please, consult with a mortgage specialist to determine what your mortgage affordability actually is and what you and your family are comfortable paying based on your personal situation. For example, a household income of $71,000 is very different for a couple than it is for a family of 5. So again, please realize that I am generalizing these next few scenarios.
    Let us know if we missed anything!
    If you’re new to my channel…. Hello! 👋🏽 I'm Jennifer Queen, a REALTOR® here in the Winnipeg area helping people buy & sell real estate 🏡
    👉🏽 If you ever have any 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗮𝗯𝗼𝘂𝘁 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗳𝗲𝗲𝗹 𝗳𝗿𝗲𝗲 𝘁𝗼 𝗹𝗲𝗮𝘃𝗲 𝗮 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 𝗼𝗿 𝘆𝗼𝘂 𝗰𝗮𝗻 𝘀𝗲𝗻𝗱 𝗮𝗻 𝗲𝗺𝗮𝗶𝗹 𝘁𝗼 Jennifer@JenniferQueen.com - 𝘐’𝘮 𝘢𝘭𝘸𝘢𝘺𝘴 𝘩𝘢𝘱𝘱𝘺 𝘵𝘰 𝘤𝘩𝘢𝘵 𝘢𝘣𝘰𝘶𝘵 𝘺𝘰𝘶𝘳 𝘳𝘦𝘢𝘭 𝘦𝘴𝘵𝘢𝘵𝘦 𝘨𝘰𝘢𝘭𝘴 🙏🏻⁣
    📣 ⁣𝗖𝗨𝗥𝗜𝗢𝗨𝗦 𝗔𝗕𝗢𝗨𝗧 𝗪𝗛𝗘𝗥𝗘 𝗜𝗡 𝗪𝗜𝗡𝗡𝗜𝗣𝗘𝗚 𝗬𝗢𝗨 𝗦𝗛𝗢𝗨𝗟𝗗 𝗖𝗔𝗟𝗟 𝗛𝗢𝗠𝗘?
    Check out our Website: jenniferqueen.com/communities... for a list of neighbourhoods we think would be great to call home! 🏡
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Комментарии • 39

  • @parifromprairie
    @parifromprairie 2 года назад +4

    Your videos are very informative and having lived in Winnipeg for almost 10 years now, I related with all the topics you talk about ☺️!

  • @nazmussakibpassion

    Hi Jennifer, thanks for sharing useful and informative video, I think you can share a updated video on this topic as many things has been changed during last couple of years. Look forward to have a refreshed version.

  • @garyj6378

    Amazing! Thanks for sharing the living costs of Winnipeg in such a detailed and vivid way. You have just boosted my confidence of moving from China to Winnipeg.❤

  • @druelleb9620
    @druelleb9620 2 года назад +1

    Thanks for the informative videos!

  • @waynek921
    @waynek921 2 года назад +2

    Jennifer these are great ideas for the next set of people that want to bye.. great work..

  • @harihar448
    @harihar448 2 года назад +1

    Thanks madam for informative video... Big fan 🙏🙏🙏

  • @loicepatana5078
    @loicepatana5078 Год назад

    Thanks

  • @asherpangu
    @asherpangu 2 года назад +2

    I don’t think wages too low compared to other cities though. For example, skilled workers like engineers make good money here and lots of opportunities (not just software). I used to be an engineer before I quit due to career change, and I made well above canada average. But it depends on the company too. My workplace paid more on wages but work environment wasn’t too great (manufacturing)

  • @babatundeoluseyi8013
    @babatundeoluseyi8013 2 года назад +1

    Thanks for the information Jeniffer. Please I want to relocate to Winnipeg with my spouse as an international student. Any advice from you

  • @emeyjee
    @emeyjee 2 года назад +2

    I find that the houses here are more expensive nowadays compared to other cities like Calgary and Edmonton. Example, Edmonton and Calgary sells condos in less than $200k and still looks ok and livable whereas here i saw a condo selling at an old building for $175k and looks horrible & terrible. Gone are the days that housing here in this city are “affordable”.

  • @olalekanojo7615
    @olalekanojo7615 Год назад +2

    Thanks for the detailed information. What’s the cost of renting a 1 bedroom bungalow apartment in the area?

  • @sweetseasawrow
    @sweetseasawrow Год назад

    Thank you!

  • @jameswilliam-xv2zs
    @jameswilliam-xv2zs Год назад

    How much is the rent? And what's the biggest change an American would have moving to Winnipeg?

  • @josevich
    @josevich 2 года назад +2

    How much data is in your $70 plan? Because I pay $40 for unlimited nationwide calls and text, and I have 10gb data. Plan doesn’t come with a phone though

  • @Europa1749
    @Europa1749 Год назад +1

    Just like the rest of the country, it's getting harder to own your own home in Winnipeg. Not really affordable.

  • @michaelcooke8665
    @michaelcooke8665 2 года назад

    How much would rent for a one bedroom apartment?

  • @user-hw5bh1gx6o
    @user-hw5bh1gx6o Год назад

    2bd in good area is 1600+ cad

  • @goat9199
    @goat9199 Год назад

    The COST of living here is much more than just financial.