I know it’s a bit late to join the conversation, but I just had to weigh in! I’ve set up a home shrine (I prefer not to use the term “altar,” as an altar is used for sacrifice) on top of my dresser and only spend about $20 on the supplies.
I started by taking a white cloth and draping it over the top of the dresser. Any white cloth will do; the regulations of the cloth draped over the altar at church do not apply to a private home. You may choose to follow these regulations, but that will up the cost. If you do wish to follow the Church’s Mass regulations, you must use either linen or hemp, with no embroidery save for the edges of the cloth. I used a pillow case from a dollar store, which came to $1.50
After draping a cloth, I hung a crucifix above the center of the shrine. Crucifixes range greatly in price, from only about a dollar (I do not recommend these ones as they tend to be ugly) to several thousand. My crucifix is ceramic. I bought it at a thrift store for $5.00. I’d estimate it being about $60 new. If you already have a crucifix, though, there’s no need to buy another one. An alternative to hanging the crucifix on the wall, of course, would be to place a standing crucifix at the back of the shrine. Make sure, however, that it is centered! It may just be my personal preference, but Christ is THE mediator between God and man (even prayers saints offer for us are offered to God through Christ) and he should be the center of our worship.
Following the crucifix, I decorated the shrine with a few objects to add symbolic meaning and to use as aids to meditation: a statue of Our Lady (my favourite depiction of her is the Madonna and Child, so I use that) which I purchased new for $11.00, an “icon” of Jesus that I printed out from the internet, a rosary, and a bottle of holy water (free from my local parish!).
Candles/Incense are a must have. My mother is allergic to incense (unfortunately), so there is none in my shrine. But remember the words of Revelation 5:8, “Bowls of incense…which are the prayers of the saints.” Apparently, God considers lighting incense prayer. I do use candles in abundance. I spent a grand total of $4.69 on votive candle holders from a thrift store. I have three in the back of the shrine, one underneath the crucifix, and one to each side. I have another before the “icon” of Jesus, one before the statue of Mary, and one standing alone. It’s good to have a lot of candles, because then you can pray at night with the lights out and still be able to see. The sight of candles in a dark room is gorgeous, so you get the aesthetic benefit, too. Again, you need not follow Church regulations, as you are in a private home. If you want to follow regulation, however, you need beeswax candles. I just use tea/votive lights from the local supermarket.
In the center of the shrine, to add a little bit of liturgical color, I’ve laid the Liturgy of the Hours for the current season. If you want, you can place a piece of the Blessed Sacrament on your table for private adoration.
Arranging the items on the table can be difficult; on the one hand, you want as much stuff as possible, but on the other, you don’t want the shrine to seem haphazard and overcrowded. I’ve placed my statue of Mary on the left of the shrine with the rosary beside her., the crucifix on the center of the wall, and the “icon” on the right. This way, looking at the shrine from left to right, one will see three major events in Christ’s life: the nativity, the passion, and the resurrection. The candles can symbolically point to Christ as the “light of light” or “light to guide the gentiles.” The LotH serves as a reminder of the Church, which was established by Christ himself.
One final thing: do not forget to have your rosary, any statue, crucifix, or whatever blessed. It’s not necessary, and your prayers will not rise higher, but everything on the shrine will be consecrated, which makes the space feel more consecrated (I speak from experience). Most of my items were blessed by my priest, save for my rosary (given to me by the same priest), which was blessed by Pope Benedict XVI.
I know I’ve given a lot of detail, but this is something I’m passionate about, so I must beg your indulgence.
Pax!