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There are some web hosting companies which offer webspace as low as $1-$2 per month. But their webspace is too small and you may not be able to host many websites under one account.
I think $5-7 per month for reliable, multipledomain with lots of webspace is quite reasonable to start with for shared web hosting.
If you are looking for dedicated hosting, the lowest I have ever seen is around $29 per month. It is serverpronto.
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