There are quite a few who live cheaply in the parks, loading docks, and doorways off Ballard Ave.
There are a lot of apartments for rent in Ballard too. Condo's are being built like crazy there. (Urban densification planning w/o parking accommodations = parking cluster-mess)
It's hard to say, w/o knowing what your acceptable accommodation needs are. For you to get an idea on housing check
www.windermere.com, or craigslist.org. There seems to be some more affordable houses between 3rd-15th ave NW (east west) and the 4500 to 9000 blocks (north-south) ...not view property, but close to central Ballard, w/o being in the densification zone.