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Rue Mouffetard Market - This is one of the oldest streets in Paris. There is a Comfort Inn on "the Mouff" that is reasonably priced. The street is fantastic, mainly pedestrian with lots of cafes, boulangeries, cheese shops, etc. You walk up to the Place Contrascarp, where Hemmingway lived. Near two metro stops. It really is a market everyday- fish, vegetables etc in little shops.
There are also some good restaurants in the area. Try Restaurant Lilane, 8 rue Gracieuse. 01 4 5 87 9 0 68, Métro 7 Place Monge.
Although advertised by many guides as open from Tuesday to Sunday you may find that the market is closed during the week. If you are looking for the market stalls it is probably best to visit on the weekend.