I use the MRT50 Packable rain jacket from Cabelas. While it is slightly out of your price range let me add this.
I bought this jacket in 1996. Wear if dog training, dog judging, fishing, duck hunting, turkey hunting, and deer hunting. It has held up very well in all sorts of weather. Allows me to layer as needed to stay warm and dry in all those temps I run into. And is a great wind blocker.
And the whole jacket fits into its breast pocket which makes it packable.
I certainly got my moneys worth and was well worth the price I paid.
JW