Whats the cheapest flooring option for a high traffic area?
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linoleum or sheet vinyl
If you have access to something like Craig's list, Kijiji, or Letgo, you can often find people who are selling remnants from a DIY job. I bought this maple and oak for the cottage for less than what carpeting or vinyl flooring would have cost. Good luck!
Luxury vinyl tile should be cheapest option. Also, look to see if your area has any true discount flooring place. (one that specializes in left overs, and small amount inventory sales) In the Baltimore area, we have Wood Floors Plus. Craigslist is a good place to look as well.
Vinyl plank flooring is a great option. It comes in many patterns, is very durable and installs with only a utility knife. It is a floating floor, so it will go over nearly anything as well.
Thank you for the great ideas.