Comparing raised beds on sticker price alone is misleading, because lifespan varies so dramatically between materials. The comparison that actually matters is total cost divided by expected years of use — cost per season.
Untreated wood: cheap upfront, expensive over time
A basic untreated pine bed might cost the least at purchase, but at a 5-year average lifespan, the cost per season is often comparable to or higher than more durable options once you factor in eventual replacement.
Galvanized metal: higher upfront, lower per season
Metal beds cost more initially but at a 15-to-20-year lifespan, the cost per season is frequently the lowest of any material once amortized, particularly for gardeners planning to stay in one location long-term.
Fabric raised beds: the lowest commitment
Fabric grow bags and fabric-sided beds are the cheapest option and the shortest-lived — typically 2 to 4 seasons before the fabric degrades from UV exposure. They make the most sense for renters or gardeners testing a new bed location before committing to a permanent structure.
The deciding question
The right choice depends less on budget alone and more on how long you expect to garden in that exact spot. Under 3 years in one location favors fabric or basic wood; a decade or more favors metal or composite, where the higher upfront cost is spread across many more growing seasons.