Traditionally, baby showers include food, drinks, games, and gifts; however, the host must also budget for decor, invitations, prizes, favors, and, most importantly, a venue.

Aside from the inevitable baby showers that will happen en masse as the kids continue to get older and start families of their own, there are still plenty of birthday parties and weddings to be had.

Though venue expenses can add up, there are plenty of affordable—and even free—options available. Peerspace has compiled a list of five budget-friendly venues for under $150, with prices varying by ...