$5/lb is a LOT for raw... maybe not for a tiny toy dog, but a dog who is 10+ lbs is going to be eating hundreds of dollars a month! When I buy raw, it's very very cheap stuff. Either in bulk or creepy things that no one buys but are great for dogs (feet, necks, tripe, organs, etc). Nothing more than $1/lb. You can supplement a premium kibble with raw and give your dogs a lot of variety, without worrying about whether or not their diet is balanced.
There are plenty of premium foods that are inexpensive. I rotate Merrick GF and Taste of the Wild. Both are just $2/lb. I spend about $50/month on food for two 50 pound dogs.
Other expenses are up to you & your ability to bargain hunt. I buy flea/tick/heartworm medication only in the summer, so I only end up spending $50 per year on that. I buy Pet Armor (which is half the cost of Frontline with the same ingredients) for x-large dogs, then split each application between my 2 dogs. I buy them about 1-2 toys a month, never spending more than $10. I make their treats using organs and meat in the dehydrator, and save a lot on chews by feeding raw bones.
I feel like the majority of spending is when you first get the dog, getting a nice collection of toys, kongs, a crate, leash and collars, etc. Vet costs vary, but I get limited vaccinations so it's not too costly.
<3 Erica, Gonzo & Fozzie