In general, the municipalities in the Zona Cafetera have a wide range of accommodation options for foreigners. Manizales and Salento in particular have good, low-cost backpacking hostels. Only a handful of places offer dorm beds, the cheapest option for budget travelers. You will be surprised, though, how far your cash can go if you break from the backpacker route and search for your own accommodations in town.
It is a little more difficult to find cheap lodging in Armenia and Pereira, as these cities have less developed tourism infrastructures. If you plan on spending a night or two in either of these places, first go to the information booth at the bus terminal. This is the best place to get some good suggestions for accommodation and to pick up some business cards. It will also give you a chance to get your bearings and learn which neighborhoods are safe and which to avoid. As the entire region is temperate and often cool, you will appreciate that all accommodations have 24-hour hot water.