My own PA was around $1000 before (or perhaps even with) mics, stands, cables. My four cabs (Yamaha AS312 three way) are discontinued. I think they were more designed for DJ's. They're inefficient, but sound quite nice. I use them for bass practice as well, they have good low end and sound good for it, but I don't run anything but vocals through the PA when it's actually in use.
For small gigs, I couldn't find a pair of monitors I wanted, so I bought the second pair of AS312's and I mount them in these (Link Removed) for monitors. The set for the audience go on stands of course. I think I got the four monitors for a bit over $500, all used.
For a head I've got a six channel Yamaha powered mixer (EMX 66M - ~$350 new when I bought it, I think), which is 300 watts per side, 600 watts bridged to eight ohms. I rarely use the built in effects, but they're there if I need them, I suppose. The successor to my model has SMPS class D power. I'm not a tough guy, but I can hold it with my arm straight out for minutes at a time. VERY light.
I don't want any more PA than I have. I use it for playing back audio from my computer most of the time, bass practice when I'm in that room, small rehearsals (room limited, not PA limited), block parties and events that my wife does. It's the perfect size for my needs.
If I need more, I'll find someone from whom to rent. Anything larger would probably live in a trailer, invite "feature creep" ("Gotta get a new limiter!") and generally become more maintenance intensive. And I hate schlepping PA. If I had a nice big one I'd suddenly be in the PA business, supplying the rehearsal space, packing it up and moving it for our own gigs or renting it out to friends occasionally. I don't want to be that guy.
KO