Depends. For extract brewing you can easily do it for $100-150 if you bottle the beer(with your biggest expense being a large 5+ gallon kettle), adding another $100-150 if you keg.

Full grain brewing is significantly more expensive (unless you do the "Brew in a Bag" style) simple setups easily put you into the $400+ range. Purpose-built full grain brewing systems setup with pumps, three burners and kettles will set you back $2500-5000 depending upon how nice of a setup you get and the volume (15 gallons to 40 gallons), and that doesn't even include the fermentation equipment which for heated and cooled conicals can be $2000+.

Homebrewing has a very active higher end market which is only getting more active as it becomes easier for individuals to move from hobbyist to professional pico/nano/micro-brewer.