I will second both the Hosteling International suggestion, and the Couchsurfing one.
Couchsurfing is like AirBNB without the money. (People offer a place to stay for free.) The only thing about Couchsurfing is that most people only offer stays of a few days at most in any one place. But if your friends don't mind staying in different places, then it's definitely the cheapest option, and can be really nice meeting friendly, generous people.
Hostels are also the cheapest of the ones that cost money, and are very professionally run, and are full of people from all parts of the world. Usually you share rooms with several people, but you can book a room for a bunch of people at the same time, usually.
I haven't ever stayed in a La Quinta, but I am aware that they are known for being affordable, and since they are out of the way near Assembly Square, they are probably going to be extra cheap compared to anything anywhere near Davis.
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Couchsurfing is like AirBNB without the money. (People offer a place to stay for free.) The only thing about Couchsurfing is that most people only offer stays of a few days at most in any one place. But if your friends don't mind staying in different places, then it's definitely the cheapest option, and can be really nice meeting friendly, generous people.
Hostels are also the cheapest of the ones that cost money, and are very professionally run, and are full of people from all parts of the world. Usually you share rooms with several people, but you can book a room for a bunch of people at the same time, usually.
I haven't ever stayed in a La Quinta, but I am aware that they are known for being affordable, and since they are out of the way near Assembly Square, they are probably going to be extra cheap compared to anything anywhere near Davis.
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