I buy malt from a brewpub for $0.50/pound. hops by the pound and dry yeast for basic recipes. Even figuring equipment costs of $5 per batch, which is probably twice what it really is, I can easily brew 10 gallons of a standard porter, pale ale or oatmeal stout for under $25. I don't brew to save money, I never have, but the way I see it is that the money saved can be spent on my next beer focused vacation.
Sounds about right to me...I generally pay a similar amount for my malts (when I can), I buy hops in bulk, and have been using primarily the same yeast since 1989. I can make 5 gal of a standard brew for under $10.00 and some pretty hefty brews for the winter months for anywhere from $13.00 -18.00 per 5 gal. Not too many years ago (less than 10 years ago) , I was buying Crisp Maris for less than $18.00 per sack and the costs per batch were even lower.
Brewing at home began for me almost 40 years ago as a "can I do it" kind of challenge. The cost savings over commercial beer was never really the main issue, but it is a great benefit of homebrewing (and especially appreciated these days); for at least the last 15-20 years there has been no real reason to buy any commercial beer other than curiosity or research. It's actually been quite a LONG time since I bought a commercial beer that I wished I could emulate.