Check on AirBNB as I'm sure you'll be able to find something in your price range. I think TIFF is going on as well still, so thats why hotel prices are absurd. Plus many Boston fans will be making the trip up north of the border. Usually otherwise you can get a great hotel downtown in the $150-200 range, though you just picked the wrong weekend. If you stay outside of downtown, just make sure you're close to a subway line, because public transit is pretty scarce in the city.
As for restaurants, can't go wrong with anything in the Trinity-Bellwoods area. It's about a $8-10 Uber ride from the Rogers Centre, and there are great restaurants and bars all over. Check out Bellwoods Brewery if you're into craft beer, plus they have a decent menu as well.