I bought a damn good quality waterproof cycling rain jacket from eBay for $35. Only problem is... it's too damn hot for temps above 60°F and it's not breathable. Make sure the jacket is breathable. I ended up buying one of these for warmer temps....

https://www.adventurecycling.org/cyc...series-jacket/

My eBay Rain jacket almost caused me to have a heat stroke... but it's great for rainy weather and temps around 45-60°F.