More hostel than hotel -- some of its 50 rooms have shared bathrooms -- the Murray Hill Inn is cheap for a reason: small, dated guest rooms; no gym; no breakfast; $7 per day fee for Wi-Fi. Its quiet location near great restaurants in Murray Hill is a plus, but nearby hotels -- like the Ramada Inn and La Quinta -- offer more.

This hostel in Murray Hill is a great option for visitors traveling to NYC on a budget, with shared rooms starting at just $50 per night, and private rooms for just a bit more. Many of the rooms are small, but clean -- there is daily housekeeping -- and efficient. As in other hostels, many rooms also share bathrooms in the hallway. There is no curfew or lockout, as the hostel is staffed 24/7, and in-room microwaves and mini-fridges help guests save on food (though there is no shared kitchen, unlike at some competitors). Additional conveniences such as free Wi-Fi and free pizza two nights a week are major draws, especially for cash-strapped travelers. Overall, this is one of the best hostels in New York, but it's also worth considering Hostelling International.