I have a few rain coats. Two that are less than $100 are the Marmot PreCip and a ECWCS gore-tex hooded shell. Both are excellent coats for most uses and the military model is probably both cheaper and tougher than the Marmot. I have a gore-tex military coat in woodland camo that is ten years or more old and works very well. You can get them online inexpensively, say from $35 to $80 most of the time.
When I went to Alaska last year Caribou Hunting I searched EBay for a couple months and found a Columbia jacket for $39 and it worked great as we were rained on 9 out of 11 days North of the Brooks Range. Just put in a search of brands you would like and the size and within a few months you will have a quality jacket at a affordable price. Mine even came with the tags still on it as new.
Got to agree you need to narrow parameters. For something packable and used sporadically the Marmot is great. The military goretex is bulletproof and fairly cheap. For everyday hard use, Helly Hanson seems to be very popular.
Helly Hanson Impertech or three ply Goretex. One or two ply Goretex just doesn't cut it. Some good deals on surplus goretex especially fleck tarn from sportsmans guide or others. The rain gear for off shore fishermen like Gundren and others is the best but heavy and not ideal for hunting.
I have done well with The Precip jacket and Cabelas MT 50/50 but not for extended periods. I am liking a poncho for most of my use as it can protect the rifle as well and add to the camouflage effect too.
"When you disarm the people, you commence to offend them and show that you distrust them either through cowardice or lack of confidence, and both of these opinions generate hatred." Niccolo Machiavelli
My mainstay hunting rainwear are Cabelas Guidewear Goretex pants and jacket and still work fine after years of use but they are reserved just for rainy day deer hunting. Fortunately I have not punctured or ripped them. I realized that I was beginning to use them this spring for chores around the place during rainstorms and decided I needed to either buy another hunting set or something for home base. First looked for Military surplus and couldn't find a mens large in stock and gave up on that. Will revisit that idea again. Ended up going back to Cabelas and bought a jacket and pants from the Guidewear Rainy River with Gore-Tex Paclite line. The longest I've worn them has been for about three hours in a constant rain. No issues staying dry. They are lightweight but that's potentially a concern as I'm not sure of the longterm durability. If they last a year I'll be more than pleased.