We will be able to answer you better, with a bit more information from you. What do you consider inexpensive? Do you want to be by the water? You say you want to be in San Pedro Town, but do you mean you want to be right in the thick of things in town, or do you mean you want to be able to walk to Central Park from your hotel?http://ambergriscaye.com/pages/lodge/lodging.html
scroll through the link, and you will see that there is a clickable subcategory for price range.
Also, if you pick a couple of hotels, we might be able to help describe them better for you, and that may help you in your decision making process.