Accommodation isn't cheap in Helsinki, but you will be hard pressed to find better value than the StayAt apartments. They are very central, just behind the parliament and a short walk from the city center. They are also huge, and include a bright, clean kitchenette, a free Internet connection, dozens of TV channels and everything you'd expect of a three star hotel.
The only downside is that the price is achieved by not having a full-time staff on hand. They disappear all night, and for the entire weekend. If you have any problems you have to call the HQ at Espoo. When I tried to do this on the holiday weekend, because I couldn't access the promised Internet, I couldn't get through. Thankfully I found a spare cable in the draw near reception, but if there had been a more major problem...
That's the risk you take, but the price makes up for it.
Directions: From the train station walk up Mannerheimintie past the Parliament, then left down Museigatan. From the airport, take the Finnair bus and get off behind the Scandic/Continental hotel. Follow the bus - it will take you straight to the hotel.
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Address: Museokatu 18, (formerly Accome Tolo Apartments), Helsinki, Southern Finland, 00100, Finland