There are many cigars out there that are much less than $20 a stick, but IMO are better than those that everyone gets at the local cigar store. It all depends on what you like.
If you like a mild smoke, the 5 Vegas Gold is awesome at about $6.50 to $7 per stick.
The Montecristo White is another great mild cigar, but is much more expensive.
For a medium cigar, I would recommend the 5 Vegas Red, CAO Black, Trilogy Tri-pressed corojo or the Punch Rare corojo (only the 2006 Magnum)
If you like the hard stuff, the best cigar for the money is the Indian Tabac Super Fuerte Toro Maduro. Other good full flavor cigars are La Flor Dominicana Double Ligeruo Chisel, Saint Luis Rey Maduro. For some big money, the Padron 64 anniversary is my all time favorite.