Can anyone suggest some good inexpensive places to stay in Panama Beach

The Chateau is a great hotel and relatively inexpensive, but they are pretty much booked for March, so if you are planning on going then you are S.O.L.
How cheap are you talkin? There are some motels around but they aren't on the beach and I don't think they will provide the atmosphere you are looking for. There is the Days Inn or Ramada Inn. Those are decent hotels for spring breakers and not too expensive. You kinda waited till the last minute on this one bro, but good luck.

STEVE-O

Hey there, try out VRBO.com
it is a site where you rent through the owners. They might have some left. I got a pretty cheap place at the summit condos.
$895 for the entire week!

Last year we stayed at the Seascape Hotel. It wasn't nice but it's right on the beach and was only $70 a night. The entire hotel partied all day and all night too.

Yo nathan! steve-o is EXACTLY RIGHT!! If you didn't wait so, late you could have gotten in a nice one before the prices shot up! That's what happened to me and my boys this year...I shoulda took control and made reservations early like last year...but we are staying at the DAYS INN and it's pretty inexpensive...close to HOOTERS, HARPOONS and LATITUDES! RAMADA INN is right next door.

Don't ask how because I'm not sure, but I just managed to get a room at the chateau, its only 744 for 6 nights, not bad.

a van down by the river