Go on ebay and search for Frogg Toggs. I bought a great set there for about $40 delivered. hey are great in the rain and breath well. Make sure you get something to cover your boots! Nothing worse than to be dry and have your boots and feet soaking wet..(ask me how I know ths...)

 

TourMaster if you want something that works for cheap and don't care how it looks.

 

There are several questions you need to answer. How will they be used; what climate are you in-warm vs cool vs cold; are you planning on keeping them with you all the time or only on trips.
For compact reasons and less cool/cold frogg toggs gets my vote. I personally prefer the pull over- they have a pocket in the front and when caught in heavy rain for a long distance there is no zipper to allow water in.
I have frogg toggs and first gear with gore tex. I prefer the first gear but they are not as compact but can/will keep you dry and warm and will not melt like the frogg toggs will. For summer months I keep my frogg toggs in the tour pax but in the cold winter I use my first gear jump suite good for down to 10 degrees. For trips my first gear riding pants. They will fold nicely and not tke up too much room. The Hd rain gear is good but first gear is less $$$ and does as good or better.
Now that I am retired I have to pay for them but much less than the stores.
jim

 

I picked up a pair of rain gear at Cycle Gear, I think the Jacket was 25 and the pants were 20. Used them 3-4 times now and have stayed dry. They ar black with some gray reflective trim.They pack up relatively small. We'll see how they hold up, but I am happy for now.