Well, most PPC managers I know won't mess with clients with less than a $1,500 monthly ad spend. So a $1,500+ monthly budget is extremely common. That isn't to say people don't spend less out there, but they aren't considered "serious" players in any case. I'd expect to spend at least $1,000-$3,000 a month on PPC if planning on getting into any conventional niche. And of course some are MUCH more expensive also. If you're into something small or off-beat then you might get lucky with CPC prices and spend quite a bit less, but finding those niches is something of an art (and luck). Keep in mind this is a massive generalization about the market since we know nothing about your niche/site/goals.
CPC on Adwords seems to only climb higher as more and more people "give up" on SEO and out money toward ads.
-ThopHayt