I would not pay that much, but that's just me. The place where my horses are at charges $100/month/per horse. And that includes being fed once or twice daily (I provide grain, they provide hay...my horses only need to be fed hay and grain in the winter tho), having blankets/fly masks put on, and they have constant access to 2 different pastures. They don't have stalls or an arena which works out because my horses don't like being confined to a stall and they prefer to ride either in the field or on a dirt road.
I adore the owners of the farm. They are a married couple who are my age (early 20's). They are both very knowledgable and the girl helps me out so much with my horses and their training. Myself, my mom, the other boarders, and the owners go riding together and we are like a little family.
With all that they provide I am shocked that I only have to pay a total of $200 a month. I do "tip" the girl whenever she helps with training.