Web hosting is ‘the service providing space on the Internet for websites. When you make a website and want other people to see it, you will need to publish (or upload) it with a web hosting service.’ (midphase.com).
It can be done as cheap or expensive as you like (even free if needed!), so a better way to look at the cost of a hosting plan is through it’s value for money.
The usual way to pay for web hosting is through a recurring subscription. If you purchase such a subscription, you can expect it to include:
A unique domain name
Ability to host multiple domain names
> 99% uptime
In 2020, this should cost roughly $5 per month, anything less is good value for money, anything more should include some impressive additional features of its not good value for money.