Ostello Cinque Terre (http://www.cinqueterre.ne...) is the largest hostel in the area and one of very good quality attracting people from all over the world. Includes dorm rooms with en suite bathrooms, laundry, food services, internet access, etc. It gets very busy in the high-season and they will not reserve less than a week in advance.
Unfortunately due to a political situation in Riomaggiore Ostello Cinque Terre (http://www.petitiononline...) was forced to close and has reopened as a hotel.