My secondhand Giant hybrid was $150. The previous owner didn't use it much, so it pretty much was like having a new bike, without having to pay the $500 retail price from a bike shop. I've used it for nine years, so far, and it's taken me plenty of miles.
Although, my previous bikes as a kid and teen were Huffys and a better deal ($25 each, secondhand), which lasted me throughout my teens (without any problems with the parts), the hybrid is my favorite.