A January work term is the one people leave latest, because the placement is often confirmed late and it feels premature to look for a room before it is. That instinct is expensive. Housing for January is decided across October and November, and December is where the choices run out.
The window, and where you are in it
Winter term runs January to April. The search happens in October, and most people who end up somewhere good have decided by late November.
If you are reading this in September you are early, which is the correct place to be. Looking a month ahead of everyone else is worth more than anything you will negotiate later.
Looking before the placement is confirmed
You do not need a signed offer to enquire, view a room, or ask what is free for January. You need it before you sign a lease, because the application asks how you will cover the rent and a placement offer letter is usually the cleanest answer to that.
So the sensible order is: look now, view now, hold the decision until the offer lands. Ask what happens to availability in between — a straight answer to that tells you a lot about who you are dealing with.
What a four-month term costs here
The shortest lease is 4 months and it runs all year, not only across the summer. Four months is exactly one Ontario work term, which is why it exists.
Rooms start at $220 a week with hydro, heat, air conditioning, water and a gigabit line inside the rate. Move-in is $200 at application, $150 key deposit at signing which returns with the keys, first month's rent, and last month's rent if you are approved without a guarantor.
Compare that against sixteen weeks of a short-stay rental billed at tourist rates, or an unfurnished room where you buy a bed in December and sell it in April.
Arriving in January specifically
Two things worth planning that a May or September arrival does not.
Winter clothing. If you are flying in from a warm country, a Toronto January is not something to underestimate or to buy on arrival day.
The commute in snow. Line 6 runs from a stop about five minutes' walk away, which is a very different proposition in February from a fifteen-minute walk to a bus. Worth weighing when you compare addresses.