Archery is one of those hobbies you can get started without spending a ton of money or spend a lot. If your looking to hunt they have setup for that that won't break the bank. Of course as time goes by you will upgrade. Competition bows will start getting pricey and the traditional long bows or recurve scan get pretty pricey as well. It's kind of one of those you can spend as much as you want to.
I used to bow hunt a lot back home but down here it is still do dang hot when bow season comes in I just can't get into like I used to. I do most of my hunting during muzzleloader with my flintlocks.