Jericó has several budget options for hotels. It’s best to go and ask around. Most of the accommodation is within a couple blocks of each other.
Hotel Portón Plaza and Hotel Atenas
We stayed at Hotel Portón Plaza. It sits just a block from the plaza. We got a double room for COP$80,000. Our friends stayed at Hotel Atenas, which had a double room for COP$50,000 including breakfast. Both hotels had decent wifi.
For lunch we ate at El Balcón on the plaza. They served decent meat and fish dishes at reasonable prices.
We ended up running a bit late for dinner and most of the restaurants were closed by 9pm, so we ate at Rapi-ya, a fast food joint on the plaza. Service was excellent and the food was also great. They had big selection on the menu of fast food and not so fast food.
To get to Jericó, you can take a bus from Terminal del Sur in Medellín with Transportes Jericó. Buses run from 5am to 6pm and cost about COP$13,000. A shared taxi with four passengers will run about COP$19,000.
If coming from the south, you can take any bus bound for Bolombolo via La Pintada and have the driver stop at the entrance to Jericó. You can then wait for a bus to pass by and hop on. It should cost about COP$6,000 from there.