The average monthly rental price for a two bedroom apartment in Steinbach in October was $768.

Canada Mortgage and Housing Corporation has released figures for all major cities in Canada, including Steinbach. It says the average price for Steinbach in October 2015 was $744. In 2016 it climbed to $760 and then this year up to $768, an increase of about 1.1 percent over the same period a year earlier.

"That's pretty well bang on from what our numbers show that we keep track of here," says Waldo Neustaedter of Century 21 Gold Key Realty in Steinbach.

Neustaedter says that is a healthy price for the consumer, though maybe a touch on the low side for the owner of an apartment block. But he says that figure is probably influenced by the great pool of renters in this city. He says with good tenants it means there is not a lot of damage to property and that keeps rental rates lower.

According to Canada Mortgage and Housing Corporation, the average monthly price for a two bedroom apartment in Canada was $989 in October, up 2.7 percent from the previous year.

Meanwhile, as of October, there were 469 two bedroom apartment units in Steinbach, with a vacancy rate of .3 percent. The vacancy rate one year ago was 1.7 percent, and two years ago was 5.1 percent.

"We were overbuilt there for a little bit," notes Neustaedter, responding to the drop in the vacancy rate over the last two years.

According to Neustaedter, a vacancy rate of around 1 percent for Steinbach is not bad, though he admits it is maybe currently a little on the low side. However, he says that number could be a little off, noting not everyone is registered with Canada Mortgage and Housing Corporation.

"I think that we're pretty well on pace and don't need to get overzealous and build a whole bunch of more accommodations to raise our vacancy rate," he says.

Neustaedter says there is a good selection of apartment units currently on the market in Steinbach. He credits the construction of Park Place off Parkview Crescent which is a higher end apartment, but says there is a need for more affordable living in Steinbach.