This is a nice place right downtown in the strip and very inexpensive. $15 per person. If you are willing to pay $60, you can get a private room with 4 beds.
You can check availability at this website.
Hosteling International is different from just staying at a Motel or Hotel. Though it is less expensive, it attracts a much better crowd of people. Feels more like being with a family, you meet people from all over the world, many Teachers etc...
Check if there is a curfew, some hostels lock the outside gate at night around 10 pm so it is difficult to drive in but being downtown means you can walk to wherever...
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