I've got under $500 total in a Bear, Lights Out model, cabela's brand carbon arrows, cabela's brand broadheads, sights, quiver, etc.
It's not the fanciest thing, but I'm really just a rifle hunter who uses a bow to extend my season in VA. Works well for me, and I'd be more than comfortable shooting a whitetail at 35 yards. Thats all it takes.