Check out the wall-mounted dust collectors tested by the folks at Fine Woodworking Magazine in their latest Tools and Shops issue. Most are within your budget and would work fine for short runs of duct on one machine at a time.
I have had a Delta 1 1/2 horse power single stage DC which has worked well for years. Only modification since initial purchase was the installation of a pleated filter to allow the use of heavy duty trash bags.
For a small shop with limited electrical power, a single stage 110 volt unit should serve you well for a long time.
Time to start planning for a larger shop with dedicated electrical service.