Hotels and hostels in Taipei are of reasonable value, and standards tend to be fairly high, even at most of the places near the lower end of the spectrum. Food and drinks also come in a wide spectrum on the price scale, with famous street food and casual eats at amazingly low prices considering the quality. However, finding restaurants with English language menus in the lower price ranges is extremely challenging.
Hotels in Taipei are generally busy all year round so there isn’t much seasonal variance in price. The only period that slows down a little is from September through November, so it’s sometimes possible to get good deals then, especially at the higher end places. Prices at hostels in Taipei tend to stay steady all year long.