Cheap and an experience.
It was $20 a night plus a $2 key deposit, so you really can't beat that. Not in the best neighbourhood, but within walking distance of one. There were people loitering in the halls and cockroaches and a bum sleeping in the alley outside our window and the carpet was kind of greenish orange, but it was definitely an experience. I had a wonderful time. You are supposed to leave your key at the front desk (enclosed much like a gas station cashier station) when you go out and have them buzz you in. The clerks at the front desk were all very friendly.