Under $4 per month:
If you are looking for completely unmanaged, cheap WordPress hosting and you do not need the absolute fastest, most reliable hosting in town, we highly recommend bluehost.
$1 per Month:
If you’re comfortable with getting your hands dirty with FTP and MySQL and Cpanel, I highly recommend www.nosupportlinuxhosting.com.
I have used both of these services for various clients and they work great for the price. In fact, I have had very little to no downtime on these sites that I’ve noticed.
If you have a mission critical site or are a freak for speed (like us) then you may want some higher end web hosting.