I'm in the US, and my four DDs spent less than that between them for their prom dresses over the years. Probably about $300 total, tops.
For footwear, they bought eveningy sandals at Target or a local thrift. DD1 bought a nice little gold evening bag at the thrift and all the others used it except DD4 whose dress was black; she bought a black one for $10.
They all got their dresses on the clearance rack in Macy's, year after year except one who bought an Asos dress online which I shortened for her myself. DD1 never wore hers again but the others have worn them to university formals.
They did their own makeup, got manicures and pedicures, and did their own hair or did hair with friends/ friends' mothers-sisters, etc.
They paid for everything themselves from earnings from part time jobs, and also all chipped in for a group limo.
To echo what a PP said about a class/income divide in budgeting - I have observed similar in my community. The people whose highest expectation of education was to graduate high school tended to go all out for prom, though ethnicity played a part too. Where I am, people with strong Italian and Greek heritage tended to do the same even if headed for university.