Best Centrally Located London Hostel?

how much are you looking to spend per night?

There are lots of centrally located hostels: Clink 78 (in King's Cross, not the greatest area), Generator (Bloomsbury), YHA Oxford St, Dictionary (Shoreditch),etc See http://goo.gl/lXAOx Also check Hostelworld. You can sort by rating: http://goo.gl/juLph Hostelworld's 10 best London Hostels: http://www.hostelworld.com/hostels/London/England/Reviews

I was thinking $100-$125/night.

Thank you Margaret, I will check them out.

If you are looking at under $125, you might try www.airbnb.com. My fiance and I are renting a studio apartment with basic kitchen facilities near Victoria station for about that much.

Any of the YHA hostels should work for you.

For $125/night you can stay in a budget hotel or small B&B. Take a look at : Travelodge Covent Garden (try for the new wing): http://goo.gl/F5Jwv Ridgemount Hotel in Bloomsbury: http://www.ridgemounthotel.co.uk/ Judd Hotel in Bloomsbury: http://www.juddhotelbloomsbury.com/ Jesmond Hotel in Bloomsbury: http://www.jesmondhotel.org.uk/bed-and-breakfast Alhambra Hotel in King's Cross: http://www.alhambrahotel.com/index.html Hotel Meridiana in King's Cross http://www.hotelmeridiana.co.uk/ Cherry Court near Victoria Station: http://www.cherrycourthotel.co.uk/index.html You can find traveler reviews and pictures of these and other hotels at http://www.tripadvisor.com/ Bloomsbury is a very good location IMO--walking distance to several attractions and a short tube ride to many others. Covent Garden is also very good, but is a more expensive area, and the Travelodge rooms can be iffy. King's Cross is convenient, but not as nice an area as Bloomsbury. Victoria Station is good too.

I also like the St. Christopher's Hostels-7 locations throughout London, including a women-only facility next to London Bridge.