Budget Travel - Cheap lodging in paris

I'm going to paris in June for 5 days and was looking at cheap lodging. I do not want to spend more than US$120 a night. Is apartment, hostel, or cheap hotel best way to go?
What sites are good for searching for cheap apartments?
Have people stayed at the cheaper hotels? Which ones are good?

Try this:

http://www.hostels.com/paris/france

You don't mention your dates, but for a random June week in Paris www.hotwire.com actually has a 3* within your budget.

Then there is www.venere.com, www.hostelbookers.com, and bidding via www.priceline.com for hotels and hostels. Sometimes a sweep with www.kayak.com will turn up a different option.

www.holidaylettings.co.uk and www.vrbo.com are sources for apartments, although sometimes they require a full week minimum.

Romelle

And if none of the above suit you, try an Etap, Ibis, or Formule 1.