The Pensão Praça da Figueira is a sure budget bet. It offers a wide variety of clean, pleasant rooms with good prices and a great location overlooking the square.

The Albergaria Residencial Insulana provides well-preserved rooms with great rates in the very heart of the Baixa grid.

If you can handle a lot of stairs and bare-bones furnishings, then a bougainvillea-lined terrace and fantastic views await.

The Pensão Residencial Santa Catarina has barebones, basic accommodation in the southwestern part of Bairro Alto.

The Pensão S. João da Praça offers two floors of simple-yet-comfortable rooms, just across the street from the Sé Cathedral.

From the hip lobby and modern rooms to the preserved 16th-century well and original, exposed stone walls, the Tejo offers something old, something new ...

The six-room Pensao Royal is situated on the third floor of a corner apartment two blocks from the Chiado metro stop.

The Pensã o Ninho das Águias, perched among the treetops of Alfama, offers phenomenal views at serious budget rates.

The 15-room Pensão Globo offers modest rooms on a quiet side street in northern Bairro Alto. With rates that stay pretty low and a scene-y location, it's a sensible choice for younger travelers who don't want to check in to a hostel.

The Poets Hostel has a cool, young vibe to it. It's "chill," not "party."

The Pensão Londres offers "old world" European charm at budget-friendly prices, along with some spectacular views of the city's rooftops.

Anchoring the leafy Praça da Alegria to the south, the cheery Residencial Alegria offers 35 fresh rooms with bursts of color at very reasonable rates.

We love the Pousada de Juventude de Lisboa. Yes, it's a hostel. But this well-lit, hospitable, cheerful and muito tidy spot has a lot going for it.

The four-story Residência Mar Dos Açores is the pride and joy of owner Honorario, who recently turned a hundred-year-old abandoned building into a tidy budget inn.