I don't really calculate price of wrapping paper per foot or gift, but...
Brown craft paper like used to wrap packages you're mailing from the dollar stores, Target or Walmart, decorated with stamps, stickers or markers, or simply a pretty ribbon and bow is an inexpensive wrap. Use different colored ribbon for different family members, easy and fun. You can also add a paper doily to fancy it up, packs of them can be bought cheaply.
The $1 rolls are still a good buy, I pick them up throughout the year...if you use it on 2 gifts it's $.50 apiece, not bad as opposed to buying a gift bag and tissue paper.
I also use newspaper, Sunday comics for kids, Sports for the guys, Life, Cooking or Entertainment for ladies...add red ribbon and bow, cute and cheap. You can tape two sheets together for large gifts, double (for nothing) to avoid see-through.
And when wrapping small gifts I use scrapbooking papers, the 12" x 12" size, I get them when they're on sale at Michaels for 5 or so for $1.