Discover the best cheap budget hotels and hostels in Mexico City. Save money with top central locations, excellent amenities, and easy metro access.Mexico City is an absolute feast for the senses, overflowing with world-class museums, magnificent colonial architecture, and some of the best street food on earth. Because the city is so massive, figuring out where to base yourself without draining your wallet can feel a little overwhelming. Fortunately, this vibrant metropolis boasts a fantastic selection of budget accommodations that deliver safety, social vibes, and modern comfort for a fraction of what you would pay in other global capitals.The key to a truly successful budget trip to Mexico City comes down to your immediate neighborhood. Staying steps away from a Metro station or a Metrobús line saves you hours of traffic delays and keeps your transportation costs incredibly low. Plus, picking a spot close to a local mercado (market), a large supermarket like Chedraui or Soriana, or one of the city's ubiquitous OXXO and 7-Eleven convenience stores means you can effortlessly grab affordable snacks, water, and quick meals.Here is an authentic look at the top 12 best cheap budget hotels and hostels in Mexico City that offer unmatched value for your next adventure.1. Viajero CDMX Centro Histórico HostelAddress: Calle de San Ildefonso 22, Centro Histórico, 06020 Ciudad de México, CDMXApproximate Price: $15 – $25 USD for dorms / $65+ USD for private roomsLocation & Neighborhood: Right in the historic heart of the city. This area is heavily packed with stunning colonial-era buildings, local street vendors, and historical ruins.Facilities: Vibrant inner courtyard bar, beautifully designed co-working spaces, delicious on-site restaurant, 24-hour reception, and highly secure digital room access.Nearby Transit & Shopping: Only a short 5-minute walk to the Zócalo Metro Station. There is a convenient OXXO and a 7-Eleven just a block away. You are surrounded by legendary, budget-friendly taquerías and casual family-run diners.Why it is a Top Budget Choice: This property perfectly blends a sleek, artsy design with a social backpacker atmosphere. Being so close to the main square eliminates the need for expensive taxis or long commutes.Check the latest rates and availability on Agoda:View Prices on Agoda2. Casa Pepe Hostel BoutiqueAddress: Republica de Uruguay 86, Centro Histórico, 06000 Ciudad de México, CDMXApproximate Price: $18 – $28 USD for dorms / $75+ USD for private roomsLocation & Neighborhood: Perfectly positioned in the Historic Center, just a handful of blocks south of the main Zócalo plaza.Facilities: Sweeping rooftop terrace with a plunge pool, free cultural walking tours, custom privacy pods inside the shared dorms, an internal bar, and a shared guest kitchen.Nearby Transit & Shopping: A quick 4-minute walk brings you straight to the Zócalo or San Juan de Letrán Metro stations. A giant Chedraui supermarket is located nearby, alongside local 7-Eleven shops and cheap traditional lunch markets.Why it is a Top Budget Choice: It gives you a premium, luxury "poshtel" experience at standard budget hostel rates. The free daily walking tours add incredible educational value without extra cost.Check the latest rates and availability on Agoda:View Prices on Agoda3. Hostel Mundo Joven CatedralAddress: Republica de Guatemala 4, Centro Histórico, 06020 Ciudad de México, CDMXApproximate Price: $14 – $22 USD for dorms / $55+ USD for private roomsLocation & Neighborhood: Literally directly behind the grand Metropolitan Cathedral in the ultimate center of the historic zone.Facilities: Legendary rooftop bar with panoramic views of the cathedral, free daily continental breakfast, free Wi-Fi, secure guest lockers, and a bustling travel desk.Nearby Transit & Shopping: The Zócalo Metro Station is practically right outside your front door. There are multiple OXXO stores nearby, and you are surrounded by an endless sea of cheap street food stalls serving authentic tacos and tamales.Why it is a Top Budget Choice: The rooftop views here are absolutely unmatched for this price tier. Having a major metro station directly outside means you can glide smoothly to any corner of the city.Check the latest rates and availability on Agoda:View Prices on Agoda4. Hostal CASA MX Bellas ArtesAddress: República de Honduras 55, Centro Histórico, 06000 Ciudad de México, CDMXApproximate Price: $12 – $20 USD for dorms / $50+ USD for private roomsLocation & Neighborhood: Located close to the famous Plaza Garibaldi (home of the Mariachis) and the beautiful Palacio de Bellas Artes.Facilities: Spacious fitness gym area, massive outdoor sun terrace, full guest kitchen, vibrant bar, pool table lounge, and dedicated workspace pods.Nearby Transit & Shopping: Less than a 5-minute stroll to the Bellas Artes and Garibaldi Metro stations. A local 7-Eleven is located around the corner, and the historic Mercado de San Juan is within easy walking distance for fresh, affordable ingredients.Why it is a Top Budget Choice: It stands out as one of the few hostels that includes an on-site gym. The proximity to Bellas Artes means you are completely surrounded by affordable art exhibitions and gorgeous public parks.Check the latest rates and availability on Agoda:View Prices on Agoda5. Barrio Downtown Mexico City HostelAddress: Calle de la Palma 45, Centro Histórico, 06000 Ciudad de México, CDMXApproximate Price: $15 – $24 USD for dorms / $60+ USD for private roomsLocation & Neighborhood: Tucked safely inside a quiet pedestrian street in the Historic Center, providing a peaceful escape from the heavy city traffic noise.Facilities: Highly secure 24-hour reception, free breakfast options, cozy shared TV lounge, laundry utilities, and extra-large under-bed storage space.Nearby Transit & Shopping: Very close to the Allende Metro station. Multiple convenience stores line the block, and the surrounding avenues are packed with casual bakeries, quick coffee shops, and low-cost Mexican diners.Why it is a Top Budget Choice: Being tucked away on a pedestrian-only lane means you get a remarkably quiet night of sleep right in the middle of a bustling, energetic downtown district.Check the latest rates and availability on Agoda:View Prices on Agoda6. Mexico City HostelAddress: Brasil 11, Centro Histórico, 06010 Ciudad de México, CDMXApproximate Price: $13 – $20 USD for dorms / $45+ USD for private roomsLocation & Neighborhood: Housed beautifully in a restored 18th-century building just half a block away from the main Zócalo square.Facilities: Classic colonial interior courtyard, guest kitchen, complimentary luggage storage, free Wi-Fi, and bright, traditional Mexican art decor.Nearby Transit & Shopping: A short 3-minute walk to the Zócalo Metro hub. An OXXO store is situated right down the street, and the surrounding streets are iconic for cheap traditional clothing shops and inexpensive juice bars.Why it is a Top Budget Choice: The historical charm of the building gives you an authentic architectural experience on a shoestring budget. It consistently ranks as one of the cheapest and most dependable properties in the city.Check the latest rates and availability on Agoda:View Prices on Agoda7. Massiosare El HostelAddress: Revillagigedo 47, Centro Histórico, 06070 Ciudad de México, CDMXApproximate Price: $12 – $19 USD for dorms / $40+ USD for private roomsLocation & Neighborhood: Perched in a historic penthouse on the border of the downtown area, near the lush, green Alameda Central park.Facilities: Free hot homemade breakfast, a lovely rooftop terrace, two distinct guest kitchens (including a specialized vegetarian kitchen), and a cozy fireplace lounge.Nearby Transit & Shopping: Excellent transit access via the Juárez Metro station and the Metrobús lines. A massive Walmart is within walking distance for affordable grocery runs, and an OXXO sits on the corner.Why it is a Top Budget Choice: The dual kitchens are a massive bonus for travelers who prefer to prepare their own meals. The free, freshly cooked daily breakfast saves you a ton of cash right at the start of your day.Check the latest rates and availability on Agoda:View Prices on Agoda8. Hostal AmigoAddress: San Jeronimo 126, Centro Histórico, 06000 Ciudad de México, CDMXApproximate Price: $14 – $22 USD for dorms / $50+ USD for private roomsLocation & Neighborhood: Positioned in a youthful, highly active part of the historic district, known for its creative street art and alternative cafes.Facilities: Free daily breakfast, colorful shared bar lounge, helpful tour desk, laundry services, and highly creative, pop-art style room decor.Nearby Transit & Shopping: Only a brief 4-minute walk to the Isabel la Católica Metro Station. Multiple convenience stores and budget-friendly cantinas serve cheap local dishes and beers right in the immediate neighborhood.Why it is a Top Budget Choice: The staff here goes completely out of their way to create a welcoming, friendly environment for solo travelers. It is an incredibly safe and welcoming home base for first-time visitors.Check the latest rates and availability on Agoda:View Prices on Agoda9. Metro Hostal BoutiqueAddress: Guanajuato 84, Roma Norte, 06700 Ciudad de México, CDMXApproximate Price: $16 – $26 USD for dorms / $60+ USD for private roomsLocation & Neighborhood: Situated in the trendy, upscale Roma Norte neighborhood. This artistic area is famous for its leafy, tree-lined streets, independent art galleries, and hipster coffee shops.Facilities: Beautiful sun-drenched terrace, premium pet-friendly rooms, high-speed Wi-Fi, spacious modern lockers, and comfortable chic common rooms.Nearby Transit & Shopping: A short walk to the Niños Héroes Metro station and various Metrobús stops. A massive Soriana supermarket is nearby, alongside a local 7-Eleven. The neighborhood is packed with international food options, vegan cafes, and budget street-side torta stands.Why it is a Top Budget Choice: Roma Norte is typically a very expensive neighborhood to stay in. This boutique hostel lets you enjoy the beautiful, trendy neighborhood without paying premium hotel rates.Check the latest rates and availability on Agoda:View Prices on Agoda10. Roomies Hostel CondesaAddress: Chiapas 173, Roma Sur (bordering Condesa), 06700 Ciudad de México, CDMXApproximate Price: $15 – $25 USD for dormsLocation & Neighborhood: Located exactly where the stylish Roma Sur and Condesa neighborhoods meet, providing a safe, green, and highly pedestrian-friendly environment.Facilities: Beautiful outdoor rooftop garden, large communal kitchen, fast Wi-Fi, luggage storage space, and bright, modern bathrooms.Nearby Transit & Shopping: Easily walkable to the Chilpancingo Metro Station. A local Superama supermarket and several OXXO shops are within easy reach. The surrounding blocks feature casual burger shops, juice bars, and affordable local cafes.Why it is a Top Budget Choice: It serves as the perfect green escape from the intense concrete energy of downtown. You get to stay right next to Condesa’s beautiful public parks while paying a rock-bottom price.Check the latest rates and availability on Agoda:View Prices on Agoda11. Casa PanchaAddress: Avenida Tamaulipas 114, Condesa, 06140 Ciudad de México, CDMXApproximate Price: $22 – $32 USD for premium dormsLocation & Neighborhood: Located in the prime, elite heart of the Condesa district, surrounded by beautiful Art Deco buildings and vibrant neighborhood parks.Facilities: Premium handcrafted privacy bunks, complimentary gourmet breakfast, sleek co-working spaces, and organized local cultural workshops.Nearby Transit & Shopping: A simple 7-minute walk to the Juanacatlán Metro Station. A premium grocery store and an array of 7-Eleven outlets are easily accessible. Exceptional dining options, from local taco spots to artisan bakeries, sit right outside the door.Why it is a Top Budget Choice: While slightly higher priced than downtown dorms, it offers an absolute world-class boutique experience. It is the perfect blend of quiet luxury and budget hostel pricing in a prime area.Check the latest rates and availability on Agoda:View Prices on Agoda12. Hotel Templo MayorAddress: Calle de Alcaiceria 31, Centro Histórico, 06010 Ciudad de México, CDMXApproximate Price: $40 – $65 USD for private hotel roomsLocation & Neighborhood: Situated in the Historic Center, just steps from the active Templo Mayor archeological excavation site and museum.Facilities: Completely private rooms and bathrooms, beautiful rooftop terrace seating, 24-hour reception desk desk security, and free high-speed Wi-Fi.Nearby Transit & Shopping: An easy 6-minute walk to the Zócalo Metro Station. Surrounded by OXXO convenience stores and a lively network of local markets where you can grab incredibly cheap, authentic Mexican meals.Why it is a Top Budget Choice: If you absolutely prefer a private hotel room over a shared hostel bunk, this is one of the best budget values in the city. You get total privacy and hotel security at an incredibly reasonable price point.Check the latest rates and availability on Agoda:View Prices on AgodaFinal Tips for Booking Your Mexico City Budget StayTo lock in the absolute lowest prices for your trip to Mexico City, planning and booking your room in advance is highly recommended. Hotel and hostel rates can fluctuate depending on local national holidays, seasonal travel trends, and major city-wide concerts or events. By staying in any of these top-rated properties, you will save a massive amount of cash on transport and food while enjoying the very best of Mexico’s magnificent capital.To find the most up-to-date pricing, read real traveler reviews, and look for flash discount promotions, click the link below to view the latest live deals on Agoda.Find the Latest Deals and Room Prices in Mexico City on Agoda