Although Mexico City is not as popular as Cancun when it comes to tourism, it is a lovely city with a lot of things to do. When it comes to hotels, though, there isn’t much difference. The city has literally hundreds of hotels in all price ranges, from cheap places to stay to luxury hotels.
Just like in the case of Cancun, the area you want to stay in will dictate the price. Zona Rosa is geared towards the mid-range budget travelers; therefore here you’ll find plenty of affordable mid-range hotels. If you are looking for the high end hotels, Polanco district is where you want to start your search. Centro Historico is home to plenty of cheap hotels and hostels.
In this case, staying further from the city center won’t ensure cheaper rates. Actually, as mentioned earlier, Centro Historico is a great area to start searching for a cheap place to stay. And you have the advantage to stay close to the main sites.
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Price wise, you can find rooms in low-budget hotels for as low as US$7 per night (with shared bathroom), but those would be close to a hostel-type of accommodation. Rooms in mid-range hotels start at US$45 per night with AC, TV, ensuite bathroom and you’ll stay in the Centro Historico. In general, there are plenty of options for maximum US$100 per night per room, even in 3 or 4-star hotels.