Discover the top 12 best cheap budget hotels and hostels in Montreal. Find prime locations, great amenities, and affordable prices for your next Canadian trip.Montreal is a city that effortlessly blends European charm with North American energy. From the cobblestone streets of Old Montreal to the vibrant, mural-lined alleys of the Plateau, there is so much to see, taste, and experience. But let’s be honest—traveling to a major city can quickly eat into your savings if you aren’t careful. The good news? You do not have to sacrifice comfort or a prime location just to save a few dollars.Whether you are a solo backpacker looking to meet fellow travelers, a couple on a romantic getaway, or a digital nomad needing a reliable base, Montreal has incredible budget-friendly accommodations. I have scoured the city to bring you this comprehensive review of the top 12 best cheap budget hotels and hostels in Montreal.Here is everything you need to know about where to stay, what is nearby, and why these spots offer the absolute best bang for your buck.1. M Montreal HostelAddress: 1245 Rue Saint-André, Montreal, QC H2L 3T1Approximate Room Price: $40 - $60 USD / night (Dorm), $100+ (Private)M Montreal is practically an institution for budget travelers. Located right in the heart of the vibrant Gay Village, it offers world-class facilities including rooftop Jacuzzis, coworking spaces, a bustling bar, and a fully equipped shared kitchen.The Neighborhood & Perks: You are a two-minute walk from the Berri-UQAM Metro station, which is the central hub connecting three major subway lines. For groceries, there is a Metro Plus supermarket just around the corner, along with a Couche-Tard (Montreal’s version of 7-Eleven) for late-night snacks. You will never run out of eating options with Sainte-Catherine Street’s endless cafes and bistros right outside.Why it’s the best location under budget: It connects you to the entire city via the main transit hub while offering resort-style amenities at backpacker prices.Check Latest Price and Availability on Agoda2. Auberge Saintlo Montréal HostelAddress: 1030 Rue Mackay, Montreal, QC H3G 2H1Approximate Room Price: $45 - $65 USD / nightIf you want to be right in the middle of downtown’s action, Saintlo Montréal is your spot. This hostel is famous for its exceptionally friendly staff, free daily breakfast, fast Wi-Fi, and fantastic coworking spaces.The Neighborhood & Perks: Situated perfectly in Downtown Montreal, you are just steps away from Lucien-L'Allier and Guy-Concordia Metro stations. A massive Provigo supermarket and a Pharmaprix are nearby for all your daily needs. The area caters to university students, meaning cheap eats, late-night pizza, and cozy pubs are everywhere.Why it’s the best location under budget: It sits right between major universities and downtown shopping districts, saving you daily transit fares since you can walk almost everywhere.Check Latest Price and Availability on Agoda3. Samesun Montreal CentralAddress: 1586 St Hubert St, Montreal, QC H2L 3Z3Approximate Room Price: $35 - $55 USD / nightKnown for its highly social atmosphere, Samesun Montreal Central is a favorite for young travelers. It features a great common room, an outdoor garden patio, and a communal kitchen.The Neighborhood & Perks: Located in the Quartier des Spectacles (the entertainment district), you are minutes from Berri-UQAM Metro. There is a nearby IGA supermarket and a 24-hour convenience store right down the street. For food, Rue Saint-Denis is packed with affordable pubs, sushi joints, and traditional poutine spots.Why it’s the best location under budget: You are quite literally at the doorstep of Montreal’s famous free summer festivals, meaning world-class entertainment won't cost you a dime.Check Latest Price and Availability on Agoda4. Alt Hostel (Auberge Alt)Address: 347 Saint Paul St E, Montreal, QC H2Y 1H3Approximate Room Price: $30 - $50 USD / nightStaying in historic Old Montreal usually requires deep pockets, but Alt Hostel breaks all the rules. It offers clean, minimalist dorms, free Wi-Fi, and a cozy lounge area overlooking the cobblestone streets.The Neighborhood & Perks: You are a short walk from the Champ-de-Mars Metro station. While large supermarkets are sparse in the old town, you are right next to local corner stores and the famous Bonsecours Market. Budget eating options include local bakeries, sandwich shops, and nearby Chinatown which is packed with cheap, delicious meals.Why it’s the best location under budget: It allows you to wake up in Montreal’s most romantic, historic, and typically expensive neighborhood for the price of a standard dorm bed.Check Latest Price and Availability on Agoda5. Auberge AlternativeAddress: 358 St Pierre St, Montreal, QC H2Y 2M1Approximate Room Price: $40 - $60 USD / nightHoused in a restored 1875 warehouse, Auberge Alternative is an eco-friendly hostel with an artsy, bohemian vibe. They offer organic coffee, recycling programs, and a beautiful communal kitchen.The Neighborhood & Perks: Located on the western edge of Old Montreal, the Square-Victoria-OACI Metro is your closest transit link. There is a convenient IGA grocery store a few blocks away. The area is filled with charming local bistros and quick-service cafes tailored to the nearby office crowds.Why it’s the best location under budget: It bridges the gap between the modern downtown business district and the historic old port, giving you prime pedestrian access to both worlds.Check Latest Price and Availability on Agoda6. Auberge du PlateauAddress: 185 Sherbrooke St E, Montreal, QC H2X 1C7Approximate Room Price: $45 - $70 USD / nightIf you want to experience Montreal like a local, you have to stay in the Plateau. Auberge du Plateau provides a colorful, homey environment featuring a fantastic rooftop terrace and free breakfast.The Neighborhood & Perks: Sherbrooke Metro station is just down the street. You will find a Provigo supermarket and plenty of 7-Eleven-style corner shops nearby. The real draw is the food; this neighborhood is the undisputed king of cheap eats, from legendary Montreal bagels to Portuguese chicken sandwiches.Why it’s the best location under budget: The Plateau is Montreal’s cultural and artistic heart. Staying here means the best affordable food and vibrant street art are right outside your window.Check Latest Price and Availability on Agoda7. Capsule Hotel MontrealAddress: 1753 St Denis St, Montreal, QC H2X 3K4Approximate Room Price: $40 - $65 USD / nightBringing a slice of Tokyo to Canada, this hotel offers private, modern sleeping pods. Facilities include air conditioning, fast Wi-Fi, secure luggage storage, and pristine shared bathrooms.The Neighborhood & Perks: Situated along the bustling Saint-Denis Street, the Berri-UQAM Metro is practically your neighbor. You have immediate access to 24-hour convenience stores and large grocery shops. The street is lined with inexpensive crepe shops, burger joints, and lively student bars.Why it’s the best location under budget: It provides the ultimate privacy of a hotel room at the price point of a shared hostel, located right in the city's main entertainment artery.Check Latest Price and Availability on Agoda8. Hotel Les Suites LabelleAddress: 1205 Labelle St, Montreal, QC H2L 4C1Approximate Room Price: $75 - $95 USD / nightFor those who prefer a traditional hotel experience without the hefty price tag, Hotel Les Suites Labelle is a winner. Rooms come with private kitchenettes, flat-screen TVs, and access to an on-site gym.The Neighborhood & Perks: Located in Ville-Marie (Downtown East), it’s highly walkable to the Berri-UQAM Metro. A large Metro Plus supermarket is right around the corner, making it incredibly easy to buy groceries. There are also plenty of fast-food chains and local diners nearby.Why it’s the best location under budget: The in-room kitchenette is a massive budget hack. Cooking your own meals while staying in a private downtown hotel room will save you hundreds on your trip.Check Latest Price and Availability on Agoda9. Auberge L'AperoAddress: 1425 Mackay St Suite 2, Montreal, QC H3G 2H6Approximate Room Price: $35 - $50 USD / nightAuberge L'Apero brings a distinct European hostel flavor to North America. It is a smaller, more intimate hostel with cozy dorms, a fully functional shared kitchen, and a lovely communal dining area.The Neighborhood & Perks: Tucked into the Golden Square Mile downtown, you are right beside the Guy-Concordia Metro. PA Supermarket—known for excellent prices on fresh produce—is just a few streets over, alongside several Couche-Tard locations. Thanks to the nearby university, you are surrounded by cheap falafel shops, ramen bars, and slice-pizza joints.Why it’s the best location under budget: It is arguably the most affordable bed you will find in the Golden Square Mile, placing you within walking distance of Montreal’s premier museums and shopping districts.Check Latest Price and Availability on Agoda10. Auberge Le TreehouseAddress: 1601 Rue de Lorimier, Montreal, QC H2K 4P8Approximate Room Price: $30 - $45 USD / nightAs the name suggests, Le Treehouse features beautiful, rustic wooden interiors that make you feel like you are in a cozy cabin rather than a major city. Facilities include a great outdoor terrace and a communal kitchen.The Neighborhood & Perks: Located in the Centre-Sud neighborhood, the Papineau Metro station is your closest link. A large Super C grocery store (known for budget-friendly prices) is within walking distance. The area features quiet, unpretentious local diners and fantastic bakeries.Why it’s the best location under budget: It offers a quiet, relaxed retreat from the noisy downtown core while still being just a 15-minute walk from the vibrant nightlife of the Gay Village.Check Latest Price and Availability on Agoda11. Hotel Ruby Foo'sAddress: 7655 Decarie Blvd, Montreal, QC H4P 2H2Approximate Room Price: $85 - $110 USD / nightIf you don't mind staying a bit further from the downtown core, Hotel Ruby Foo's offers unbelievable value. It feels like a mini-resort, featuring an outdoor pool, a high-end fitness center, and free parking.The Neighborhood & Perks: Situated in the Côte-des-Neiges area, the Namur Metro station is just a short walk away, taking you downtown in about 15 minutes. Epicure Supermarket is close by, as well as 24/7 convenience stores. The surrounding neighborhood is famous for massive, cheap Asian buffets and diverse international restaurants.Why it’s the best location under budget: If you are doing a road trip, the free parking alone makes this the best budget choice. You get premium resort amenities at standard hotel prices.Check Latest Price and Availability on Agoda12. The Little Prince RoomsAddress: 136 Rue Saint-Paul E, Montreal, QC H2Y 1G6Approximate Room Price: $65 - $85 USD / nightOperating somewhere between a hostel and a boutique hotel, The Little Prince Rooms offers private accommodations in a spectacular historic building. The facilities are basic but exceptionally clean, featuring modern private or shared bathrooms depending on your room choice.The Neighborhood & Perks: Deep in the heart of Old Montreal, Place-d'Armes Metro is just a short stroll away. While big supermarkets are out of the immediate area, there are several local corner stores. You are steps away from beautiful waterfront cafes and budget-friendly food trucks in the Old Port.Why it’s the best location under budget: Finding a private room in Old Montreal for under $100 a night is incredibly rare. This location allows you to step out of your door right onto the city’s oldest and most picturesque streets.Check Latest Price and Availability on AgodaFinal ThoughtsMontreal is incredibly generous to budget travelers if you know where to look. Whether you want to cook your own meals, walk to the biggest free festivals in the world, or sleep in a historic building, these 12 hotels and hostels prove that you can experience the magic of this Canadian city without breaking the bank. Safe travels, and enjoy everything Montreal has to offer!