There are three basic types of accommodation in Moscow: hostel, Soviet hotels, and expense account. The best thing, of course, is to stay with friends.
For a wealth of information, try G&R International, they can organize every type of accommodation.
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The Russian Home homestay program starts at $20/night with lots of extras thrown in, they’ll arrange your visa invitation, and accommodate just about any type of request, they seem ideal for the independant traveler. Russian Home Travel seems much more expensive and structured.
The hostel scene in Moscow is really limited. The best known is the Traveler’s Guest House.
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All Hotels in Russia has a great registry of hotels in Moscow, you should be able to tell from the photos which are the old Soviet style and which are the shiny new Western models. A classic is the Intourist hotel, right across from Red Square. The Intourist Agency site is also very useful, you can search for accommodation by price.
An interesting tour option (oh no!) is the Beetroot Bus, they call themselves the backpacker bus for Russia and have a good reputation for their package tours.