How to Save Money on Rent & Accommodation | money management in canada

Find affordable student housing in Canada! Learn about shared apartments, student residences, and cost-saving rental tips in major cities. money management in canada

5/8/20242 min read

Introduction

Rent is one of the biggest expenses for international students in Canada. Whether you choose to live on-campus or off-campus, finding affordable accommodation is crucial to managing your finances. In this guide, we’ll explore the cheapest student cities, cost-saving rental strategies, and government resources available to help students cut down on rent expenses.

1. Understanding Rent Costs in Major Student Cities

The cost of rent varies depending on the city you choose. Here’s an estimate of monthly rent prices in some popular student destinations

Best Budget-Friendly Cities for Students

If you’re looking for a more affordable city, consider studying in Montreal, Halifax, or Calgary, where rent is significantly lower than in Toronto or Vancouver

2. On-Campus vs. Off-Campus Housing: Which is Cheaper?

✔️ On-Campus Housing (Student Residences)

✅ Convenient & close to university
✅ No need to pay for furniture or utilities
❌ Higher cost compared to shared apartments
❌ Limited availability

✔️ Off-Campus Housing (Apartments & Shared Housing)

✅ Cheaper than student residences
✅ More independence and space
❌ Need to pay for furniture and utilities
❌ Lease agreements can be complicated

💡 Money-Saving Tip: If choosing off-campus housing, consider renting a place further from downtown and commuting via public transport to save on rent.

3. Best Ways to Save Money on Rent in Canada

1️⃣ Find a Roommate

Splitting rent with roommates can cut your expenses by 40-50%. Look for roommates through:

Facebook Groups (e.g., “Toronto Student Housing”)
University Housing Portals
Websites like Kijiji & Roomster

2️⃣ Look for Student Discounts & Housing Assistance

Many universities offer subsidized housing for international students. Check your university’s housing office for available options.

3️⃣ Consider Homestays

A homestay means living with a local Canadian family, which is often cheaper than renting alone. It usually includes meals, saving you money on groceries too.

4️⃣ Negotiate Rent with Landlords

If you're renting long-term, ask for a lower rent in exchange for a longer lease. Some landlords are open to negotiations!

4. Where to Find Affordable Student Housing

Here are the best websites to search for student housing:

University Housing Websites (Check your school’s housing portal)
Kijiji.ca – Great for finding apartments & shared rooms
Facebook Marketplace – Many students list available rentals here
Rentals.ca – Helps students find budget-friendly apartments
Roomster.com – Useful for finding roommates

🚨 Warning: Be cautious of online scams! Never send money before seeing the place in person.

5. Government & University Housing Resources

International students can access government and university support programs for affordable housing:

Affordable Housing Canada (CMHC): Provides low-cost housing options for students in major cities.
University Housing Bursaries: Some universities offer housing grants or discounted student accommodations.
Tenant Rights & Support: Each province has tenant protection laws. If you face unfair rent increases or landlord disputes, contact your local tenant board.

Conclusion: Save Smart, Live Comfortably!

By choosing the right city, finding roommates, and using student discounts, international students can save hundreds of dollars on rent every month. Research your options early, and don’t be afraid to negotiate rent to get the best deal!

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