Then you have to do socks, shoes, belt, shirts and ties. But it's easier to find bargains for those.
My last suit was under $200. But that was just the suit and I think it was on sale.
2J, you're not going to get anything decent for under $150. But you could spend much more than that if you want. You ~could~ go the Penneys route. The Stafford line isn't ~bad~.
But really, for a suit you can tell if it's off the rack or custom fit. It's an investment. And if you go with something basic like navy, black or gray, it will last him for years.
Heh...Olive green. I had one of those once. But it was AFTER I had the navy, the black, the gray, the tan AND the blue and white seersucker...