Though nothing fancy, we really like Residêncial Florescente. It's clean, friendly, and very affordable—particularly considering the great location.

One of Lisbon's smallest hipster hostels, the friendly Lisbon Lounge sleeps 44 guests with icy-blue style in Baixa.

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.

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

The two-star Ibis Lisboa Liberdade offers 70 surprise-free rooms at generally low rates minutes from the Maquis da Pombal metro station and Avenida da Liberdade.

Although they're not the most exciting rooms this side of the Tejo, they are very spacious and come with a kitchenette.

Situated along the eastern edge of the Parque Eduardo, the three-star Hotel Miraparque offers full-service accommodation.

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.

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

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

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