Hi - I posted the below email address a month ago but it was in the midst of my complaining message about the Red Mt RV Camp so I thought I would do it again - along with a disclaimer that I have any vested interest.
The Avon Hotel is in the center of town. It is very barebones, older but totally quaint and clean. Owners Tom and Stephanie Burrell are huge Hardrock supporters and further discount for runners their already cheap rooms. They don't man the desk after early evening until around 8 AM but they will be cheering for you at the finish line and even take pictures with their digital camera and print them out. They try to put all runners on the top (3rd) floor for quiet (and extra exercise, welcome until post race). Some rooms have private baths, some share a shower and bath for prices in the mid $20's which I think is affordable enough to stay all week.
Email them in Oregon: tburrl@...