2" or 1.25" receiver? My experience is the ones like Vikb pointed out above are completely disposable. I definitely wouldn't buy one unless it was a last resort. They are very lightweight, and clamp down on the frame to hold things in place, which is not at all ideal.
Buy once, cry once is my opinion on bike racks. Sure they are more expensive now, but they will last longer than the cheap ones, and id be less inclined to worry about your bike falling off.
I bought my 1UP in 2013, and it is still going strong. If you can swing it, go for a premium rack.
PS I have an OG (original design where the bikes sit sideways) NSR 4 bike rack that I was considering putting up for sale. Just refinished it last year, and really haven't used it since. Id likely sell it for slightly more than your budget, but PM me if you are interested. It is a for a 2" hitch.