In a lovely wooded area of Fairmount Park, this handsome Hosteling International hostel is best for guests with their own transport. In its public areas, set with antiques, harp, oriental rugs and paintings, the place feels more like a B&B than a hostel; the dorms themselves are basic. There's also a great communal kitchen and free bicycles for getting around.
A downside is that the building is closed (and all guests have to leave) between 11am and 4:30pm and there's a 2am curfew, not that you'd want to be wandering around this isolated part of the park at that hour.
From the bus stop on the corner of Ford and Cranston Rds it's around a 1-mile walk to the hostel, which is at the end of Chamounix Dr.