Very little in Whistler is cheap. Shoestring Lodge is the exception. This aptly named hostel provides comfortable accommodation in four-bed dorms and private rooms, each with TV and bathroom, for a fraction of the price of a hotel. There's a free bus for the short trip to the lifts every morning and local buses stop just outside. Bars and restaurants are within walking distance if the pub/part-time strip joint attached to the hostel doesn't appeal.
7124 Nancy Greene Drive; www.shoestringlodge.com/