I guess the old saying is true for me: if I have to ask how much it costs, I can’t afford it.
Even if I could it would not matter since I have no athletic skills anyway. Haha
The question was, "How expensive is figure skating?"
If you're a beginner, you can afford it. I agree with all the breakdowns so far on this thread, but figure skating at the beginning levels is not that expensive.
I apologize if I am assuming you're not currently a figure skater. I haven't been back on this forum enough to get to know people.
Beginning figure skaters generally start out in group sessions, which in our city run around $30 for four weeks. Your skate rental in our city is around $2-3. (Rental skates are usually pretty rough--a big incentive to look for some used figure skates, which for adults with reasonably "normal" feet is not difficult, as many people start skating and quit after a short time, and want to get rid of their skates. OR...like my husband, they die...I currently have two pairs of male figure skates (black) available, but they are a size 8 and very wide (my late husband had "hobbit feet"--so cute, but...hard for him to find shoes that fit!).
As you get more advanced in the Learn To Skate sessions, they will get more expensive, but they're still reasonably priced and you're still not paying for a private coach, or for competition fees, travel, skating club membership, etc. You will probably want to practice outside of your LTS session, but for a while, you can still do this on public skating sessions, which are very cheap.
It's only when you decide to progress to the more advanced skating that the costs will start to increase. But even then, until you are working on jumps like axel and the doubles, it's still not that expensive. A coach will charge $120/hour, but most lessons at the early levels are only 15 minute lessons, so around $30/lesson. Usually only 1 lesson a week while you are just beginning.
And if you are entering competitions at a beginner level, they're still a lot of fun and you'll still get nervous and excited--but they don't cost that much since they are generally at your rink or a nearby rink. (We are lucky to be in Northern Illinois and many suburbs of Chicago have a skating rink and offer a competition!)
It's just like anything else--the more advanced you get, the more it costs.
But if you love it--you'll find a way to make it work. One suggestion I would have is to move somewhere where cost of living is cheaper, and ice time/coaching/etc. is cheaper, too. A lot of smaller cities have great skating programs that aren't as expensive--unless of course, your goal is the Olympics! If that's your goal, be rich--and move to those Olympic training center cities!