Median price, single detached, Brandon Area
$354,000As of Q3 2026.Source
MLS HPI composite benchmark, Brandon Area REALTORS
$348,900As of September 2026.Source
Average price, Brandon Area
$360,902As of September 2026.Source
Apartment HPI benchmark, Brandon Area
$204,100As of September 2026.Source
Population of the City of Brandon
51,313As of 2021 Census.Source
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Brandon is a regional centre where prices have climbed fast from a modest starting point. That helps owners whose homes were bought a few years ago, and it makes the dollar sums small enough that fees matter more than usual.

Brandon’s benchmark, median and apartment price

Brandon Area REALTORS, through CREA, reported a September 2026 MLS HPI composite benchmark of $348,900, up 8% from a year earlier. Single-family homes were $361,800, townhouses and rows $364,500 and apartments $204,100. The average sale price that month was $360,902, up 12.8%, on 69 sales, which was 14 fewer than the year before. For the third quarter the median single detached sale was $354,000, up 5.7%.

Fewer than 70 sales in a month is a thin sample. A single large sale moves the average, which is why we lead with the benchmark and the median. Brandon’s 2021 population was 51,313.

How much room a Brandon owner has at the median

Equity is value minus what you owe. Federal consumer guidance from the Financial Consumer Agency of Canada caps a second mortgage at 80% of appraised value less the balance owing. At the $354,000 median with a $200,000 first mortgage, room is $83,200. On a $204,100 apartment with a $140,000 balance it is $23,280.

Both examples above come out of one rule, and both show how quickly a modest balance eats the room. Work your own figures through the calculator before you talk to a lender.

Land transfer tax in Manitoba: a purchase tax, not a loan tax

Land transfer tax in Manitoba is charged on fair market value when title is registered. The first $30,000 is free, then 0.5% to $90,000, 1% to $150,000, 1.5% to $200,000 and 2% above that. A buyer at $354,000 pays $4,730: $300, $600, $750 and $3,080.

A second mortgage on a home you already own is not a purchase. We found no land transfer tax line for it, and your lawyer will confirm what registration costs. The Manitoba page covers the other costs.

Small-city lending questions

Lenders look at a smaller city with one eye on resale. Ask what they count as comparables, how recent they must be, and whether they treat an acreage or a home on the city’s edge differently. Owners with land outside town should read the rural property page, because lenders can treat those properties more cautiously. Owners who only want a lump sum for repairs or a debt can compare home equity loans and second mortgages. If credit has taken a hit, the bad credit page is blunt about cost and risk.

The provincial capital is the bigger market to the east, covered on the Winnipeg page, and Saskatchewan’s two largest cities are on Regina and Saskatoon.

Which Brandon homes are rising fastest

The September 2026 benchmarks by type give a clear picture. Single-family homes were up 7.6%, townhouses and rows up 8.4% and apartments up 15.2%, the fastest climb of the three, starting from the lowest price. The composite was up 8%. The average sale price of $360,902 sat $12,002 above the composite benchmark of $348,900, which is typical when a few larger homes sell in a month with only 69 sales.

Land transfer tax shows the same scale effect. A buyer of an apartment at the $204,100 benchmark would pay $1,732 in Manitoba land transfer tax: $300, $600, $750 and $82 on the last $4,100. That is a small number beside a purchase in a larger city, and so are most costs of borrowing here, though a flat lender fee takes a larger share of a smaller loan.

If you are comparing quotes, put each fee in dollars next to the loan size, not only as a percentage.

Get the offer in writing before you agree to anything: loan amount, fees in dollars, term and the end-of-term plan. A second mortgage that matures in a year or two has to be repaid or replaced, and in a small market there may be fewer lenders to turn to if conditions change. Keep your first mortgage current while you decide, since missed payments there limit every option.

Asking your own bank first, then a broker

A licensed mortgage professional can compare lenders for you, and many work across Manitoba by phone. Check their licence and regulator first. For a small, short-term need, a bank may be cheaper, so ask your own bank before you ask anyone else. If you would like a licensed professional to look at your Brandon numbers, see your options laid out.

A Brandon detached home at the Q3 2026 median, with a $50,000 loan

The $354,000 value is the Brandon Area Q3 2026 median for single detached homes, used as a stand-in for an appraised value. The $200,000 first mortgage and $50,000 new loan are made up. The 80% ceiling is the one the Financial Consumer Agency of Canada gives for a second mortgage.

Home value used
$354,000
Equity before the new loan
$154,000

$354,000 minus $200,000

80% of the home value
$283,200

$354,000 x 0.80

Combined loan-to-value with a $50,000 loan
70.6%

$250,000 divided by $354,000

Room left after the new loan
$33,200

$283,200 minus $250,000

Room under an 80% ceiling before the loan
$83,200

Equity of $154,000 leaves $83,200 of room, so a $50,000 loan fits with margin. The margin is what lets a lender accept a lower appraisal.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

A Brandon apartment at the September 2026 benchmark, with a $15,000 loan

The $204,100 value is the Brandon Area apartment HPI benchmark for September 2026, used as a stand-in for an appraised value. The $140,000 first mortgage and $15,000 new loan are made up.

Home value used
$204,100
80% of the home value
$163,280

$204,100 x 0.80

Owed on the first mortgage
$140,000
Combined loan-to-value with a $15,000 loan
75.9%

$155,000 divided by $204,100

Room left after the new loan
$8,280

$163,280 minus $155,000

Room under an 80% ceiling before the loan
$23,280

Low prices mean small numbers even with healthy equity. A $23,280 ceiling cannot absorb lender and legal fees on a big loan, so the cost of a small second mortgage is worth checking first.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

How fast are Brandon prices rising?

Brandon Area REALTORS reported the MLS HPI composite benchmark at $348,900 in September 2026, up 8% from a year earlier, and the average price at $360,902, up 12.8%. The benchmark is the steadier measure, because the average moves with the mix of homes sold.

Few sales a month: does that make borrowing against a Brandon home hard?

September 2026 had 69 sales in the Brandon Area, 14 fewer than a year before. Fewer comparable sales can make an appraiser cautious, so ask a lender what evidence they use for your street, not only the city.

Do Brandon apartments leave less room than houses?

Yes, in dollars. The September 2026 apartment benchmark was $204,100 against $361,800 for a single-family home, so the same percentage ceiling leaves a much smaller sum to borrow against.

Refinancing in Brandon: is land transfer tax payable?

Manitoba charges land transfer tax on transfers of title, using the fair market value at registration. A loan registered against a home you keep is not a transfer, so we found no tax for it. Registration and legal fees still apply.

Should I trust a Brandon price from a listing site?

Be careful. Listing sites show asking prices or tiny samples, and the figures we saw ranged widely. This page uses the Brandon Area REALTORS numbers published through CREA, and a lender will order its own appraisal anyway.

Nearby cities

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Sources