New York has some of the most expensive accommodation in the world. Expect to pay up to $50 for a hostel, $100-$200 for a budget room with shared bath, $250-$350 for a mid-range hotel with a decent room and a restaurant and/or room service; and much higher in a high end hotel. Most rooms below $200 in Manhattan are small with room for a bed, a tv, and little else. Be warned that the quality of hotels varies significantly and, in many cheap hotels away from the center such as along the West Side Highway or in the outer reaches of Queens, you may share the premises with hourly customers!

Room rates are typically quoted excluding taxes, so expect your actual bill to be higher than the quoted rate. Taxes include New York State and New York City sales tax (8.875%), a New York City Hotel Occupancy Tax (varies but, for rooms above $40, $2 + 5.875%), and a surcharge of $1.50. For a $100 per night room, expect to pay $117.75, after taxes are taken into account.

In Long Island City, Queens, there are 10-15 clean and safe hotels in the region just across the Queensborough/59th Street Bridge from Manhattan. Accomodation here can cost as little as $50 per night. This area is being developed by the city as its new "hotel zone." Take advantage of it! Since the subway runs all night, you can go out in Manhattan and come back at any time.
[edit] New Jersey

Just over the Hudson River and out of the city limits, in New Jersey, there are cheaper hotels, and Manhattan is easily accessible by a short 15-minute ferry ride, by train, by bus, or by a more expensive cab ride. However, public transit to and from New Jersey does not run as often as transportation within New York City, especially after midnight. Taking a cab to New Jersey can be difficult - at times, crossing the bridges and tunnels to New Jersey is painfully slow due to traffic.

Hotels close to Newark Airport can cost as little as $50 per night if booked online. However, to travel to Manhattan with public transportation can be complicated . Multiple transfers are required (airport shuttle to airport; #62 to Newark Penn Station; PATH train to the city), and services are of low frequency. Expect 1.5 to 2 hours each way from your Newark airport hotel to Manhattan.

Jersey City can be easier - it's only a short hop from there to Midtown on the PATH.

Another option for customers coming from Newark Airport is to stay in Staten Island. Some Staten Island hotels, such as The Hilton Garden Inn at 900 South Avenue, offer free shuttle buses or are on bus lines to the free St. George Ferry to Manhattan. Do be aware though that Staten Island is a lot farther than it seems from the main attractions.

It is highly advised to stay with someone you know who lives in New York. If you don't know anyone, you can look into a hospitality exchange. New Yorkers love showing off their city and understand that hotels are expensive. Taking an old friend out to dinner one night in return for accommodation is far more economical than staying in a hotel - and you will get a real take on New York as opposed to just the tourist attractions.

more information coming soon.