I use a lee challenger press (about $50)
It works really well for me, but since it is a single stage press, it is a lot slower than some of the fancier ones out there (but better to learn on). RCBS and Lee are the two main brands, and they are both good. Hornady is also excellent.
I use Hornady tungsten carbide dies (they are much better than normal dies) (about 30 bucks per set)
You will also need a powder measure, a primer pocket cleaner, a camfer tool, a reloading manual, bullets, powder, primers, etc.
You can get a basic reloading kit from lee for 120 dollars and that has just about everything you need to get started.
I live in a small apartment, and I have all my reloading equipment on a desk. It doesn't take up an excessive amount of space.
I would say you should expect to spend about 250 dollars to get a good setup for reloading handgun rounds (that includes enough powder, bullets, and primers for maybe a thousand rounds).
If you do the math, you will probably do more than break even after loading your first thousand. Just remember, reloading is a hobby, and it takes a lot of time.