If you are staying in Ames, I would recommend our Memorial Union. Well, they don't have the modern style accomodation, but it is cheap and good deal; I think it is $50/night for students and $70/night for non-student. Not sure how picky you are with housing, but I would stay there if I had to stay in Ames. Everything from MU is within walking distance, including all campus and all Greek housings. It is by our beloved Lake LaVerne, Campanile, Central Campus (which was designed by the same firm who designed Central Park in NYC) --> voted to be one of the best Campus in the nation, our Parks library with Grant Wood murals, etc.
Including: Campus Town (where the bars are located) and food, book stores.
Iowa State Memorial Union
Let me know if you have any questions