One place you could check out is 'Princeton Backpackers'. It's basically a student accomodation block where they rent out any spare accomodation as backpackers. Rooms vary hugely from terrible to great - the first room they'd allocated us was awful, boxy, dingy and dank, so after we whinged they showed us another one which was completely the opposite - Japanese style 3*+ hotel standard in a nice shiny new apartment-style shared area, plasma TV on the wall etc, I couldn't believe it was in the same block. And it was incredible value, I think $45 per night for a private room from what I remember. If you even think of staying here, go and look first and DON'T put any money upfront until you've agreed on a room to stay in - the first room we saw was awful, and I've since heard horror stories from others. But the room we had was great and cheap so could be worth a try.