Parchment manuscripts were indeed "fantastically expensive," but printed books in the time of Shakespeare were by no means cheap: remember hand-set type, and each page pressed individually (the facsimile edition of Shakespeare's first folio shows hand corrections on several pages because it would be too wasteful to throw away a whole page!). By then, too, they had linen paper -- a long, messy process before the Industrial Revolution.
It wasn't until a method for making paper from wood pulp was developed in the 18th century that book ownership spread significantly beyond the wealthy.
thanks for the info!