It is helpful to think of FPL player pricings in general categories. We must also keep in mind, of course, that the range of prices - and the average price level - varies for different positions. Value/price corresponds (or should correspond...) to points-potential; so, the different price strata across the different player positions are indicative of where most of the FPL points are expected to come from.
Also, it's really useful to keep in mind who seem to be the best options within each price category (and position) at any given point of the season, because it should be relatively easy to use your transfers to swap similarly priced players for each other, when one seems to be coming into better form than your present incumbent.
For defenders and goalkeepers, 4.5-4.9 million is mid-price, 5.0-5.4 is upper mid-price, 5.5-6.5 is premium (although I don't think I've ever seen a keeper priced higher than 6.0, and ir's pretty rare for defenders too); anything over 6.5 is super-premium. (there are rarely more than 1 oe 2 defenders who get priced at this highest level each season; this year, there are none). Under 4.5 million is cheap.
For midfielders and forwards, 6.1-7.0 is mid-price, 7.1-8.5 is upper mid-price, 8.6-9.9 is premium, 10.0 and over is super-premium; while 6.0 and under is cheap. (You can occasionally find some vaguely tempting prospects in these positions at only 5.0, or even 4.5 - but they're not usually worth it, except as short-term placeholders at the very start of the season, when budget can be super-tight; if you go for such a pick at first, to stretch the budget, you have to plan to move them out for an upgrade as soon as you reasonably can.)
With midfielders and forwards, there is usually a slight skewing towards higher prices for the forwards, with not only the few top-returning strikers being priced very, very high, but also most of the mid-price and upper mid-price options being a little higher than their equivalents in the midfield category. However, this is rather less pronounced this year, as fewer players than normal in either category have been assigned prices in the premium or high upper mid-price range.
You can't really afford to indulge in more than 5 or 6 premium or super-premium priced players; and no more than 2 or 3 of those can be super-premiums (arguably, none of them should be.... at least in certain years). And you'll almost certainly have to 'pay for' those more expensive picks by getting a good budget option from the cheap price bracket (or the bottom end of 'medium price') to balance each one of them.
Often, at the start of the season, you glance through the roster of players, and think, "Oh, I'd like a, and b, and c, and x, and y, and z,... and j and k and...." Guess what? You can't afford all of them! Budget is a beast! You have to make some hard choices at the start of the season: some players you really, really, really want... are going to have to be left out.

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