7 Cheap Hotels Near Tower Bridge Worth Booking in London

St Christopher's Inn London Bridge - The Village is the closest property in this selection to Tower Bridge, sitting in Borough - roughly a 10-minute walk from the bridge along the South Bank. Its location puts Borough Market, The Shard, and the Thames riverfront literally within a few minutes on foot, which no other budget option in this guide can match. The hostel offers capsule pods for privacy, mixed dorms, and female-only rooms - a broader range of sleeping configurations than most London hostels at this price point. Belushi's bar on-site runs live music and late-night events, which makes it lively but also means noise is part of the deal. Guests who book directly get 25% off food and a welcome drink, which cuts the actual cost of a stay further.

• Capsule pod rooms for private sleeping in a dorm-price bracket
• Rooftop terrace for city views without extra spend
• Bar crawls and walking tours organised in-house

YHA London Thameside (official site) is set directly on the Thames in Rotherhithe, around 3 km from Tower Bridge by road but connected via Canada Water Tube Station (Jubilee Line) in approximately 10 minutes. It's the only budget property in this selection with actual riverside positioning, and the quieter Rotherhithe setting means significantly less noise than Waterloo or Borough options. All rooms include bunk beds and private bathroom facilities - an above-average standard for YHA properties - and the on-site Quays café and Traders Gallery restaurant eliminate the need to budget for every meal. The O2 Arena is a 5-minute Tube ride, and Canary Wharf is one stop away, making this a useful base if your trip extends beyond central sightseeing.

• Thames-facing location in Rotherhithe with quieter surroundings
• All rooms include en-suite bathroom facilities
• On-site restaurant and café - no need to eat out for every meal

PubLove @ The Steam Engine sits on a quiet side street in Waterloo, around 10 minutes' walk from Waterloo Station and about 20 minutes on foot from Tower Bridge via the South Bank. The hostel sits above a traditional pub with a 24-hour bar - useful for late arrivals, though it does mean a baseline of pub noise in the evenings. Free walking tours and free luggage storage are included, which meaningfully reduces day-trip costs. Dorm rooms range from 6 to 18 beds, and every room includes a free security locker. The Lambeth North Tube stop (Bakerloo Line) is nearby, putting Trafalgar Square, Piccadilly Circus, and Oxford Street within 12 minutes - making this a strong base for travellers who want more than just Tower Bridge on their itinerary.

• Free walking tours included - real value add for first-time London visitors
• Lambeth North Tube gives fast access to West End and central attractions
• 24-hour bar on-site for late-night arrivals and social evenings

The Walrus Bar and Hostel is positioned directly by Waterloo train station, placing it around a 25-minute walk from Tower Bridge along the South Bank - or a short Tube hop via Jubilee Line from Waterloo to London Bridge. The London Eye is 400 metres away and Big Ben is 700 metres, which gives this property a strong sightseeing return for its price bracket. The on-site traditional English pub runs live music, sport, and cocktails, creating a social atmosphere that suits backpackers rather than travellers seeking quiet evenings. City sounds - trains, traffic, and emergency services - continue until around midnight, so light sleepers should factor that in. Breakfast is rated highly by guests, which is notable for a hostel at this price level.

• 400 metres from the London Eye - unbeatable proximity for Westminster sightseeing
• On-site pub with live music and sport screens
• Highly rated breakfast included

YHA London St Paul's sits 5 minutes' walk from St Paul's Tube Station (Central Line), putting it on the north bank of the Thames - roughly 20 minutes on foot from Tower Bridge via the Millennium Bridge and Bankside. This is the strongest north-bank option for budget travellers wanting access to both the City of London and the South Bank without paying hotel prices. Tate Modern and the Thames riverside walk are 10 minutes on foot via Southbank, and the West End is 4 Tube stops away. The hostel has a library, TV lounge, and games room - more communal space than most budget properties in this price range - and a bar on-site for evenings. The London Dungeon, Southwark Playhouse, and BFI IMAX are all within 20 minutes on foot.

• 5-minute walk to St Paul's Tube - Central Line for fast cross-city travel
• Library, TV lounge, and games room for downtime between sightseeing
• On-site bar and luggage storage included

Victoria Inn is located in Peckham Rye, south-east London - further from Tower Bridge than other properties in this guide, with central London reachable in around 35 minutes by train. It sits above a pub on the edge of Peckham Rye Park, and rooms are en-suite with stylish design - a noticeably higher comfort level than the dormitory hostels elsewhere in this selection. East Dulwich and Peckham Rye stations are within 10-15 minutes on foot, connecting to London Bridge and beyond. This property suits travellers who prioritise quiet, local neighbourhood character, and private space over proximity to Tower Bridge specifically. The pub restaurant serves hearty food and the breakfast is rated highly - both useful for keeping daily costs controlled.

• En-suite private rooms - no shared bathroom facilities
• Peckham Rye Park directly on the doorstep for morning runs or downtime
• Highly rated breakfast and in-house pub dining

St Athans Hotel is a family-run budget hotel set across several Grade II Listed Georgian townhouses in Bloomsbury, within walking distance of the British Museum, University of London, and the British Library. Tower Bridge is around 40 minutes on foot or a short Tube ride via Central Line to Bank and then a walk south - not the closest option, but the Bloomsbury location provides strong value for travellers whose itinerary extends beyond SE1. Rooms range from shared bathroom configurations to private en-suite options, giving flexibility for different budget levels. Baby cots are available complimentary, making this one of the few budget properties in this selection that accommodates young families. The West End and Madame Tussauds are a short bus ride away.

• Grade II Listed Georgian townhouses - genuine architectural character
• Mix of shared and en-suite rooms for different budget thresholds
• Complimentary baby cots available on request