I just renewed mine at $207.10, which has been going up something like $30 every year.. I started at $99 5 years ago. this is a big city Bally... of course, you can invest in a good set of weights, gat a tube and a stability ball - and you can do most workouts at home - but you'd miss out on all that testosterone and naked guys in the shower! So it's well worth it =)
really, the gym provides a social atmosphere and is conducive to really working out. I tried to work out here at the fitness room downstairs (I live in a twin 30 story tower complex) but it's just not the same. unless some hottie was running on the treadmill... see where I get my motivation ;-)
There are plenty of expensive foo-foo gyms here in my neighborhood, commanding as much as $200/month, but for that I'd expect a LOT (you can probably imagine).
Bottom line: you can't put a price on good health.