My family just returned from our European trip. In Bacharach the B&Bs Rick Steves recommended were full so I found another place which I must say was fantastic and I highly recommend! It was the Bacharacher Hof. It was economical, clean, had a pool, right off the main street, and great breakfast. The owners, Dirk and Ellen were very very nice and helpful. They have a nice website if you are interested. I would definitely stay with them again!
I totally agree. We stayed at the Bacharacher Hof for 3 days this past May (2014) and it was very nice. If you need absolute quiet I would recommend getting one of the rooms that doesn't face toward the river (train), but with the shutters closed the train noise wasn't an issue for me. Walking around Bacharach was lovely, nearby was an ATM, a grocery (I am SO jealous of their wine selection/price) and sights in every direction.
Most of all - Dirk and Ellen were wonderful - Dirk provided my wife with the recipe for one of his wonderful dinner dishes and Ellen could not have been more helpful; she gave us excellent advice on the K-D cruise, local sights and even ghost-wrote a short speech (in German) for our traveling companions!
The hotel was comfortable, the restaurant superb - but Dirk and Ellen were the BOMB! :-)
The Bacharach lodgings near the rail tracks provide the perfect excuse for wearing the ear plugs you brought to Europe! I was able to sleep, no problem.
I would prefer not to be by the tracks, but there are no, or few, trains stopping in Bacharach from late night (maybe 10 or 11 PM) until around 6 AM the next morning). There are a few express or night trains, but since they don't stop, it's just a brief swoosh. There are some freight trains overnight, but, again, they don't stop.