My favourite hostel is the HI in Point Loma, San Diego. Cheap, clean, great quality mattresses, good kitchen, free brekky, comfy hammock in a nice little courtyard, a few decent restos and bars and a supermarket and library nearby. And non-ageist. You need to walk or take a bus to get to exciting neighbourhoods, though. And it's alcohol-free. There's also a very nice HI hostel in Santa Monica, but it's not as cheap. The hostel in Ottawa is a bit grim, but it's in a converted jail, which is cool, and it's very well located.
You might want to look into getting a membership in Hostelling International (HI) if you're going to hostel a lot. It saves you a few bucks a night. And, in Canada at least, it gets you a discount on Greyhound tickets!
For university accommodations, Solin Hall (McGill University residence) in Montreal is a converted factory in the now-hip St-Henri neighbourhood. You can get a multiple-bedroom high-ceilinged loft apartment at a reasonable rate, but only in the summer. I've also stayed in very well-priced university residences at the University of Western Ontario, Moncton, Memorial (Newfoundland), Ottawa, UBC (Vancouver), and the London School of Economics. Pro tip: look into longer-term rates. A week is usually cheaper, and a month is much cheaper because technically you're a tenant rather than a "hotel" guest, so there's no occupancy tax. Also, look into what's included with your payment -- sometimes you get gym or pool privileges.
That's all I've got. I assume that most people already know about airbnb and the like, and that most of you don't want to sleep in airports. :-)