At less than 1/4 mile from the Registan, Furkat is great in terms of location. They offer the usual amenities, like breakfast, free wi-fi, laundry facilities, and, unlike some other lodgings, they also accept credit cards. Rates vary from about $15 for a basic 5 bed dorm, up to about $37 for a single private room.
Click here for booking and more information on the Furkat Hotel at Hostelworld.com.