The gear is absolutely more expensive, from the pack to tent/hammock to stove to everything else.

It’s a never ending game of compromise and expense.

It depends how you do it. Ultralight gear is definitely more expensive because the designers use more expensive materials and really sweat the details. It’s also a lower-volume niche market than traditional camping/hiking gear.

Though you can also lighten up by just carrying less. This grandma thru-hiked the AT multiple times with little more than a shower curtain, blanket, bag of food, and sneakers.

Generally, yes, often an order of magnitude more expensive. A 4 pound tent you can probably get for a few bucks at a yard sale, but a 1 pound tent is probably $500. Walmart probably has 4-5 pound backpacks for $50, but a 1 pound backpack is going to be like $200-300.

That being said, a lot of it is mentality. Carrying lighter food, not carrying too much water, not bringing extra clothes.

Also, it’s totally possible to make your own ultralight gear for a big discount. I got into sewing and have made several decent 1.8 pound 50L packs for only about $80 a pop. Check out https://learnmyog.com/

I’d say gear is more expensive, often much more expensive. But UL often means less gear, so I guess that should be considered too. What I means is that you don’t need to buy a whole Triangia kitchen - just a burner, you don’t need a whole wardrobe of clothes - just the bare essential, etc.

I think it depends on the choices you make. For each expensive option there is usually a decent cheap option. Most people associate ultralight with over-engineered DCF and carbon fiber tents that cost $1000, but a sub-$100 tarp can work as well.