I would say Crown Plaza in Downtown.. may be expensive. Any other hotels are on wolf road... I have also heard of the motel 6...? not sure I live around the corner so i should know these things...
PS Albany is not that ghetto... some surrounding areas of the school aren't that nice, but I live around the corner and I wouldnt be afraid to walk there at night ( yes I am a petite female) but the city itself is awesome. I have traveled the entire country. Albany is great with access to upstate for awesome hiking, camping, skiing and access to NYC. The city itself is great... not to big not to small... affordable housing within walking distance to school, good bars, washington park...plus lots of schools in the area (SUNY Albany, RPI, Saint Rose, Hudson Valley, Sage, Russel Sage, Albany Law, Albany Pharmacy etc... so there is a young eclectic population of people here) PS I am not on the admissions committee or anything, I was just raised here and I love it, the school is expensive, but u will be happier than at some of the schools I have visited ie NYMC, Albert Einstein, Rochester, Upstate, Buffalo... ttyl