My current bike cost ~250 including accessories, the bike itself was 180 (including tax).

I want to get something new in the 800-1200 range though. But I'll also be upgrading my locks when I do it (right now I use an onguard mini bulldog). I don't think theft is that bad on my campus though, there are bikes that are in good shape that I know have been locked with nothing but a cheap cable for weeks straight without even having the unlocked quick release wheels taken. The only reason my current bike was so cheap was that it was quite literally all I could afford at the time I bought it, not because I was afraid of theft.