best places to Airbnb in Manitoba
Key Takeaways
- Winnipeg’s stable economy, thriving job market, and high standard of living have allowed many Airbnb hosts and investors to generate a good passive income by owning rental properties.
- Learn the reasons why investing in rental properties in Winnipeg and nearby cities is a profitable plan.
- The best neighborhoods and nearby cities in Winnipeg are revealed – along with their respective data such as recommended property types, gross rental yields, Airbnb revenue and more.
Introduction
Bordered by the provinces of Saskatchewan, Nunavut and Ontario, Manitoba is the fifth most populous province in Canada,. It’s widely known as the “Gem of the Prairies”, offering wonderful landscapes conformed of prairie grasslands, arctic tundra, coastline, boreal forests and freshwater lakes. Manitoba has plenty of things to offer to visitors – from beaches, lakes and parks to cultural attractions and other exciting places to visit.
Among all the fascinating cities of Manitoba, standing out the most is the capital city, Winnipeg. Best known as the “Gateway to the West,” the city is the railway and transportation hub in the province.
While Manitoba is surely a catch for investors, you may still be wondering – what are the most profitable areas for real estate investing here, specifically around Winnipeg, right?
Here, we lend you a hand by giving out the best places to invest in Airbnb in the surrounding areas of Winnipeg, Manitoba. You will also get to know the main advantages that Winnipeg offers to real estate investors. Eager to learn more? Then continue reading!
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Why should you consider investing in rental properties in Winnipeg, Manitoba?
Investing in rental properties in Winnipeg or nearby cities of Manitoba will allow real estate investors to generate a nice passive income and ultimately achieve the desired financial freedom. Nevertheless, there’s still a question that needs to be answered – what are the advantages that Winnipeg offers to investors?
Check out some of the reasons why investing in real estate in Winnipeg, Manitoba is a great idea:
Healthy economy & job market
The “Gateway to the West” has a diversified economy and a strong employment market. The top contributors to the city’s economy are trade, education, health care, tourism, and manufacturing sectors. Currently, Winnipeg’s job market is thriving, offering plenty of employment opportunities to young professionals. The unemployment rate is 4.7% as of February 2023, which is slightly lower than the national average.
Another key factor that makes Winnipeg attractive for real estate investment is its steady population growth, which generates a strong demand for housing. Thus, investing in the rental market in Winnipeg allow investors to get a good return on investment.
High standard of living
Researching the living conditions of your target location is always important since it will let you know whether your investment will be situated in a good place or not.
Moving to Winnipeg means that you will have access to a great quality of life since it offers top-quality amenities, great recreational facilities, an exceptional education system and the best medical facilities in Canada. In addition to this, Winnipeg is also regarded as a clean and diverse city.
Affordable housing market
It’s widely known that most of the major cities in Canada have an expensive real estate market. However, the good news is that the metropolitan area of Winnipeg offers a stable housing market with affordable prices. The average property price is C$349,490, trending up 2.6% year over year.
Plenty of things to do
Winnipeg is the largest urban center in Manitoba. Yet, the city is located at the confluence of two major rivers, Red and Assiniboine. It’s surrounded by prairies, boreal forests, and crystal-clear lakes. Thanks to this, the city offers access to a variety of natural attractions where visitors and locals alike can enjoy exciting outdoor activities.
If you are looking for cultural activities, then you will also like Manitoba’s capital city! Winnipeg offers an exciting cultural scene with plenty of museums, art galleries and venues. The city also hosts a variety of events and performances annually, principally in the Centennial Concert Hall and the Manitoba Theatre Centre.
Is Airbnb Profitable in Winnipeg?
Don’t worry too much! Airbtics confirms that investing in a rental property around Winnipeg is indeed a rewarding experience.
However, if you’re still hesitating about purchasing an investment property, you can try doing rental arbitrage in Winnipeg, and it’s legal! But it’s also important to consider the Airbnb rules in Winnipeg to avoid major conflicts.
Winnipeg is a lucrative city with attractive investment opportunities. Despite that, real estate investors must consider other key factors like the property type and location to generate good profitability.
Based on Airbtics’ analytics tool data, an average Airbnb host can earn up to C$34,408 with a median occupancy rate of 75% for managing a 2-bedroom property in Winnipeg.
10 Most Profitable Locations to Invest in around Winnipeg, Manitoba
While there are many Airbnb host expenses to consider before owning a rental property, the most essential part is to analyze the property’s location.
Manitoba is the fifth largest province of Canada with 10 cities. On the other side, the largest metro area of the province, Winnipeg, has around 236 neighborhoods. So, you can guess that the profitability of each of them is different! For this reason, it’s understandable if you’re having a hard time choosing the appropriate location to set up your rental property around Winnipeg.
Check out the best neighborhoods and nearby cities in Winnipeg, Manitoba recommended for starting an Airbnb business:
1. Exchange District, Winnipeg
- Total Number of Airbnb Listings: 23
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$169,000
- Airbnb Annual revenue: C$31,593
- Gross rental yield: 18.69%
2. River – Osborne, Winnipeg
- Total Number of Airbnb Listings: 51
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$129,900
- Airbnb Annual revenue: C$24,123
- Gross rental yield: 18.57%
3. McMillan, Winnipeg
- Total Number of Airbnb Listings: 33
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$159,900
- Airbnb Annual revenue: C$26,189
- Gross rental yield: 16.39%
4. Central St. Boniface, Winnipeg
- Total Number of Airbnb Listings: 29
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$239,900
- Airbnb Annual revenue: C$37,446
- Gross rental yield: 15.61%
5. Portage – Ellice, Winnipeg
- Total Number of Airbnb Listings: 28
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$275,000
- Airbnb Annual revenue: C$37,123
- Gross rental yield: 13.50%
6. South Portage, Winnipeg
- Total Number of Airbnb Listings: 40
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$199,000
- Airbnb Annual revenue: C$24,059
- Gross rental yield: 12.09%
7. Waverley West, Winnipeg
- Total Number of Airbnb Listings: 70
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$224,900
- Airbnb Annual revenue: C$26,556
- Gross rental yield: 11.81%
8. Gimli, MB
- Distance from Winnipeg: 90 miles
- Total Number of Airbnb Listings: 34
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): C$199.000
- Airbnb Annual revenue: C$30,355
- Gross rental yield: 15.25%
9. Brandon, MB
- Distance from Winnipeg: 214 miles
- Total Number of Airbnb Listings: 61
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$192,900
- Airbnb Annual revenue: C$26,110
- Gross rental yield: 13.54%
10. Onanole, MB
- Distance from Winnipeg: 264 miles
- Total Number of Airbnb Listings: 65
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): C$459,900
- Airbnb Annual revenue: C$72,606
- Gross rental yield: 15.79%
Conclusion
Manitoba offers a few profitable cities with a variety of housing options and low prices. Thus, we can conclude that real estate investors can obtain a good cash-on-cash return by owning rental property in Winnipeg and nearby cities. But if you’re still having doubts about investing in Manitoba, we encourage you to analyze other best Airbnb rental markets in Canada.
Learning about the best places to Airbnb in Manitoba is a great way to start your journey to achieve financial freedom! Now, you should go further by taking advantage of the digital era. Check out the top analytics tools available such as our Airbtics’ Airbnb profit calculator. Jump ahead and boost your profitability now!
