WinnipegREALTORS® likes to say Winnipeg is one of the most affordable housing markets in the country. Earlier this month, when the April MLS® market results were released, an infographic showed that 50 per cent of the single family and condominium listings available going into May are priced under $300,000, with 22 per cent listed under $200,000. You will be hard pressed to find any major city in Canada with this significant percentage of listings available at these lower price points.

More evidence backing up this contention came recently by way of National Bank’s first quarter Housing Affordability Monitor Report results. This report measures housing affordability for 10 major census metropolitan areas (CMAS) in Canada. It tracks the condo markets and other dwellings which are largely single-detached or single-family homes.

Two key metrics that the National Bank calculates are how many months a median-income household requires to save for a minimum down payment (CMHC insured mortgage), and what is the monthly mortgage payment on a median-priced home assuming a 25-year amortization period at a 5-year term. In addition to these metrics, the National Bank compares the monthly mortgage payment for the representative or median priced condo property to the average rent for a two-bedroom condo in the same market.

What is most revealing — as can be seen in both of the infographics below — is how well positioned Winnipeg is to current buyers, offering very attractive and affordable ownership options.