Smart Fit Alterations is a great, budget friendly option for all of your tailoring needs. I'm willing to drive out of my way from Phoenix to go to Smart Fit because I can count on a good alteration job, short turn around time (usually 1 week), and affordable prices.
I've had several pairs of jeans and dress pants hemmed here and been quite satisfied with the workmanship. The price for a regular hem is $10, which is hard to find anywhere else. It's only slightly more expensive if you want to keep the "original hem" ($16), but this involves folding over the fabric and sewing right above the original hem which isn't quite the look that I like.
The staff aren't always the most friendly, but I'm guessing that this is part a cultural difference and not any desire to be rude. For example, I asked for an itemized receipt before paying for my alterations and rather than walking me through all of the charges, the owner just said that I'd receive a receipt in my inbox - no further explanation was provided. Unfortunately, these encounters do detract slightly from the experience which is why I can't go a full 4-stars.