I LOVE my 1UP USA rack. It is just a hair outside your budget but it's totally worth it. I went with it for a few reasons:
1. I live in Hawaii and I've watched folks have the straps or locks or arms snap off in their hands due to the sun exposure we have here.
2. I have seen racks rust out or corrode so bad that they are worthless or locked in place.
3. Folks buy the 2 or 4 bike rack thinking it will be what they need and then find they only use it for 1 bike.

The 1UP USA is built solid, it folds down easily and is easily removed from the hitch, folded and stored in your trunk or house. It's made in the USA, no plastic or rubber parts and it's expandable up to 4 bikes I think! We has used ours for carbon fiber tri bikes with 23c tires all the way up to cargo bikes with Big Apple tires. It's a great rack!

Denise