Last time I checked on materials it was about $330-400 here depending on supplier. Steel took a huge jump over the last few years. 3 years ago, I could have bought all the steel for roughly $175. I think steel prices are starting to come back down after the scrap went through the roof and is now back to a more reasonable level.
Takes about 6-12 hours to build with basic metal working skills/tools. Just make sure you know how to weld. Unless I figure my time at about 80-100/hr, it makes sense to me to build my own.