and to answer your question, total price for decent level filming gear is: All the way from very little to a lot.
These are random numbers:
Lets say you decide on a Red Epic Camera as your flavor.
The body is what $30k?
Then you need to buy all the accessories to go with it. Large amounts of batteries, redcards. Lets say you add on another $4k.
All the other things to go with it (I'm really not camera dept, so I'm so fudging it here) maybe another $10k.
So $45k later, you've got your camera.
Did I forget to mention, if you're using a red, your editor and grader (assuming you do it yourself) should really have a Red (named something) video card, costing just under $7k ($5k for the cheap version).
Did we mention the amount of hard drive space required to store, on top of that, the backups required? hmm...
So now we have a camera and all that, what are we shooting.... oh, that's right sound. A sound setup can cost you a lot of money. Cheap ones you can get away for a few thousand bucks, and you always need more and more gear.
Dolly, Jibs, Crane, sliders etc. Adding up.
Ready to shoot?
Oh wait, the picture is all dark... We need lights!
Ok, got a bunch of lights... Now lets shoot.... Awwww crap. Doesn't fit in my car anymore. Gotta buy/hire a truck.
Ok, ready, lets go shoot... Where are you shooting? Location? What are you shooting, got a script? Who are you shooting? Got actors?
Feel like we're missing something here... Oh yeah, that's right, who's going to shoot this with you.... and what do you mean, they expect to get fed??? AND PAID? Dammit, I fed them. That's enough!
Ok... fine, got all that... now ready to shoot.
awwwww crap. A new camera just came out
Your question was similar to how long is a piece of string. You can shoot on a Canon 2ti with a few cheap lights from the hardware store, Zoom h4n, Rode Mic etc for really cheap. Will the end result be good? Possibly. It depends what you're shooting and on the quality of the people element really. Could the end result be better if we used an Alexa? Yeah, it could. It could also look like a polished turd too.
You could pick up the new Blackmagic Production camera. There are pro's and cons, like you need to grade it, though it only costs about $3k + accessories. You can pick up somewhat decent audio gear in the $2k to $3k range total. Light costs, that's outside my area of knowledge, but $2 to $5k though they'd last you a lifetime if you buy quality lighting gear. That goes with quality grip gear too. You'll still need good people to operate the equipment of the kids with the t2i will pass you by.