New or used?
Used gets you into the realm of wonderful tables- Systemdek, Rega P3, AR XA and XB, Thorens TD 160 and 125, and plenty of great Japanese direct drives- JVC QL-7, Kenwood 750, Sansui 838 and 929, Sony PS-8750, etc.
These can be had ranging as of late typically $200-$500.
New?
The value here is the venerable Technics SL-1200.
After that, you need to go to at least $650-$750 I feel to start competing.
Granted, the Rega RB 250 and RB 300 arms are a classic and strong performer, and I think the Music Hall arm is pretty nifty as well as the Pro-Ject arms.
You just need to move a bit up the model numbers, in my opinion, to get you true money's worth and a level of quality that becomes serious.
Good shopping could net you a new Technics for less than $500 (this past summer they were as low as $350) or a host of great lightly used tables from Rega, Systemdek, Pro-Ject, and more, over at Audiogon.