One of the best cost to utility ratios you can find in siding materials is that of vinyl siding. Vinyl siding is one of the cheapest you can get, but it is not necessarily the least durable. While there naturally are materials that are more durable, most notable, metal siding, vinyl will also stand up fairly well to the elements. Vinyl won’t rust, rot or attract bugs, so it will be lower upkeep than wood and metal in that way. It does, however, get brittle in very cold temperatures, so you would want to avoid bumping into it on a cold winter day. It can also melt when exposed to extreme heat, so you should refrain from having a grill or firepit too close to the home.
Installation of vinyl is also fairly easy, and you could replace single panels yourself, if necessary.
All in all, vinyl is definitely a good choice for the budget conscious homeowner.