I usually say "Less than a house on the water." Then again, ours is an 89 272 Formula, so it cost quite a bit less than a 2002 new boat (Must be nice...don't you worry about the cops raiding your house in the middle of the night??? ) I've had a couple people say that the boat must cost a fortune, but I point out that they take a couple of weeks vacation, maybe to Disney and a cruise or Cancun every year. My boat costs less per year, I'm out every weekend and sometimes during the week, and I can write off the interest. And I'll get some of my money back down the road, since I bought it used and won't take that new boat depreciation when I sell it (something you drug dealers don't have to worry about.)
On the boat is one place where I feel none of the work week stress, get to hang out with friends, watch my kids grow up having a blast in the water, and that's worth every penny.