Sony took the stage at GDC 2016 for their PlayStation VR Press Event and finally announced the information people have been waiting for: price and release date. While the release window was only announced as October 2016 (no concrete date, but a pretty tight release window), the price will be $399 USD when it launches.
For frame of reference, the HTC Vive is $799 USD and the Oculus Rift is $599 USD. This places PlayStation VR at a very competitive place, with a system that can already run the platform (PlayStation 4), that is also relatively less expensive than the hardware required to run the Rift or Vive. This pricing is relatively what Sony had already said it would be, when they announced it would be priced like a console.
We will have more information regarding the PlayStation VR and its launch as more info is released.
Source: The Verge Live Blog