The Neill-Wycik Summer Hotel is first and foremost a student co-op, but given that many of its residents leave town when school is out, it takes on its identity as a hostel over the summer months. This place isn't in the best condition compared to others on the list, but the apartment style accommodations (there are private quad rooms) will appeal to those travelling in groups and the location is central enough Gerrard and Mutual) to make navigating the city a cinch. Rates range from $28 for a bed in a dorm to $53 for a private single to $120 for a private quad.