Late night festivities are encouraged here, but raging parties on the streets of Chueca stop at the door—Hostal La Zona prides itself on class and safety.

Located between Puerta de Sol and El Museo Prado, the Lisboa is certainly clean and comfortable, thanks to the friendly proprietor.

The Nuria's location, on the bustling Calle de Funecarral, is fantastico: it's minutes from Gran Via and surrounded by the chic stores and cafes that make Chueca the 'it' neighborhood.

The friendly Angela runs this 10-room show. Rooms and bathrooms ... are absolutely spotless, and the shiny white bedspreads and wooden furniture are new.

The Hostal Persal is an 80-room Madrid classic, where an appealing minimalist aesthetic sets the tone.

Hostal Puerta del Sol is a gay-friendly hostal with a great attitude and an unbeatable perch just above Sol.

This two-star hostal sits directly above Gran Vía, in a building jam-packed with other hostals.

For travelers with wide eyes and a slim budget, Hostal Residencia Helena is a good choice for its high-rise perch.

Super cheap and located directly on Puerta del Sol, the Riesco provides a nice, air-conditioned stay near the heart of Madrid.

Located in Salamanca north of the center of Madrid on the most fashionable street in the capital is the 17-room, family-run Hostal Salamanca.

Hotel San Lorenzo, perched just off Gran Via, impresses to the nines with its country style and bargain rates.

There are dozens of family photos from across the decades lining the lobby's halls and walls. It will certainly make you feel right at home!

Owners Gabriel, Marcelo, and Ramon have put a lot of time, hard work, and fresh paint into their endeavor.

The Tijcal II isn't exactly chic, but it is cheerful. Everything is brand new, from the modern wooden furniture to the well-equipped baths.

Providing 46 rooms along the central Calle Principe, the Villar is noteworthy for its rock-bottom prices and nifty wrought-iron elevator.

Sleek and chic Ateneo provides 38 impressive three-star rooms just north of Puerta del Sol.

Dos Castillas is dependable and reliable. While it's a good deal for the money, don't come here expecting luxury.

Rooms at the Hotel Europa boast beautiful furnishings, fresh fabrics, marble baths, and tons of amenities from sofas to satellite TVs.

The three-star Hotel Ingles is a classic choice that has managed to keep its rates low, while new matresses and fresh paint keep aging rooms pleasant.

The 121-room Hotel Paris has an impressive art nouveau façade, fabulous views, and an incredibly convenient location directly on the Puerta del Sol.