Hmm, the best western in Kimball Junction right next too the outlets seems decent. Its got a bomb-ass pancake house in it and it seems like one of the better places to ball out on a budget at. You could easily pool money together and get a room.
Anywhere beyond the junctions going to be a lot more pricey seeing as they are closer to the resorts. Shit, there are million dollar shitshacks on main street, its definitely safe to assume you'd be paying a bit more for a room at one of the hotels near the resorts.
There is a hampton Inn i think right adjacent to the outlets across from a ruby tuesdays that might be a good option, too. Not to mention they are all near bus-stops so heading into town/the resorts will be super easy. The resort lots are a joke and fill up like a sporting event on some days if you dont get there in time, so bussing actually seems pretty legit.
Property management companies are expensive too so i wouldnt expect being able to find a condo for cheap, its during the season/peak season and its typically the most pricey time of the year rolling into Sundance and such.