Last time I was in Budapest it was for some two-weeks summer course at the Central European University. So I stayed at their student dorm. Which is one of the best student dorms, in Central Europe at least.
It's situated in eastern part of the city, not very close to the center but with very good connections. I think you can even rent a room here if you're not their student, but since rates start at about 50 Eur for a single room I guess this is not the best option unless you're staying here for free (as I did).
Unique Quality: Single rooms, air-conditioning, own bathroom, and the best: computer with free internet access in each room.
They have a resturant at ground level. Oh yes, and a pool. And tennis courts. .... nice student dorm, I'm telling you ;-)
Directions: Take bus no. 44 and 44/a (or 10-15 minutes walk) from the Red Line/M2 metro station at Örs Vezér tér.
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