Retirement Costs in Manitoba

How much does it cost to retire in Manitoba?


What to know about this topic:


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Retirement living choices in Manitoba

In Manitoba, according to the CMHC’s 2021 Senior Housing Report, the average cost of renting a seniors’ housing space was $2,844, exactly $5 less per month than in 2020. The stability of rates here is rare among provinces. For that money, here's a look at services you can expect. According to the CMHC’s report, 100% of the residences surveyed included some form of a meal plan.

Other amenities and services offered include:

Vacancy rates and availability of senior rental units in Manitoba

Vacancy rates in 2021 increased for all unit types increased by 6.0 percentage points, to 8.7%. Winnipeg retirement homes had a vacancy rate of 8.2%. Rents remained relatively stable here, while outside of Winnipeg, rents decreased by an average of 14.3%  compared to 2020. Senior housing supply province-wide was a total of 5,080 total spaces, with 4,405 being in the city of Winnipeg.

The cost of long-term care in Manitoba

Long-term care costs vary depending on the type of suite, duration of stay and length of stay.  Approximate long-term care residence costs:

Daily Rate
Monthly Rate
Long-stay basic
$54 – $1620
Long-stay semi-private
$62 – $1863
Long-stay private
$72 – $2167
Short-stay
$35 – $1053

 

For information on budgeting and financial tips read Easing Your Financial Stress

In Manitoba there are a number of types of retirement communities, including active adultindependent livingassisted living and long-term care communities. Home care services are also a popular option for many Manitoba residents. The cost of each type of community or service varies greatly, depending on the level of care offered.

Once you have decided on services and amenities you require, the next step is to research all the associated costs and find a retirement community that fits in your budget. We provide an overview of how people in Manitoba typically pay for retirement living

Worried about outliving your retirement savings? Download our Reduce Your Financial Risk Tool for free financial tips and advice. 

For information about tax credits, support and subsidies for seniors in Manitoba visit these resources and associations:
Canada Revenue Agency

Take Comfort: retirement home reviews
Consult retirement home reviews before you choose a retirement community in Manitoba.







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