Wood is an extremely popular building material. Further, scratch building of ship models is more common than most other genres. Well, of course ships have been around longer than other materials.
Wood is cheaper, too, than styrene. However, if you need VERY thin pieces, styrene can be stronger. You do not need to be consistent with materials, Wood and styrene bond together quite well. I would use both- wood for interior structures, plastic for outside areas. It takes more priming and filling to make wood look like metal, easier to make styrene look like metal. I have sometimes used blocks of wood sheathed in 0.020 on metal hulled ships. For lower levels where there is no opening other than port holes, wood is very nice to use, and move to styrene for topmost decks where there will be more openings to interior.