Hosting is relatively inexpensive for personal hosting (which is the level of hosting you would need since your not a business or anything). Generally speaking, you can usually find hosting for between $10-$20 per month. As for what hosting service to choose, the big thing to consider is depndability. After all, no one wants to visit a site or forum that is constantly down. I know that from personal experience.
Anywho, I have Hostgo, and as you all can tell its relatively dependable. That I know of there haven't been any downtime episodes or anything like that. I would recommend Hostgo, but of course there's a web full of hosting services you can check out. I would advise staying away from GoDaddy. I've been told of some unpleaseant things about them.