There is a wide range of inexpensive lodging in Vancouver. Most of those listed here are hostels, including three excellent
Hostelling International hostels, two downtown and one at Jericho Beach.
The downtown locations are conveniently located, and both have excellent facilities. The Jericho Beach Hostel, Canada's largest, is also one of its most interesting and best situated if you prefer the beach which is still only 10 minutes by free shuttle from downtown.
Your next best bet is probably Pacific Spirit Hostel located on the University of British Columbia campus. The ambiance is excellent and the rooms are comfortable.
Finally there is an assortment of inexpensive hostels, some of which are rather run down and not always in the best neighborhoods. However, they are popular with shoestring and adventure travelers. Unless otherwise noted, you might want to check them out before you decide to stay.
Jericho Beach Hostel has 286 beds. When other hostels are full, you can sometimes get accommodations here in the off season.
The only disadvantage to the Jericho Beach Hostel is that it's about ten minutes from the centre of the city. However, the hostel operates a free shuttle bus to downtown. Besides the beautiful location, this hostel boasts great facilities. It is, alas, not open in winter.
The Downtown YMCA has 113 clean, co-ed rooms with shared bath. There are no cooking facilities; however, there's a cafeteria that serves inexpensive breakfast and lunch. Rooms are about $38 for a single and $47 for a double. One of the best things about staying at the Y is the fantastic sport and fitness facility in the building, including a swimming pool. The use of the facilities is included in the price of a room.