If you are after a cheaper alternative to the Mil Spec high visibility vests, then look for a Xelement Orange HV vest. These are made with high quality materials which are in par with the Mil Spec vests.
Features include a back pouch, water resistance to light rain and meshed lining. An ID holder is included with the vest, but may require additional securing at the top otherwise you ID can fly out at higher speeds. The rear pouch is secured with velcro so is much better place to store your important items. There is also a zippered pocket on the front right hand side for quick access to your valuables.
The vest can be adjusted with side straps, but Xelement vests can be smaller than normal, so check first before you purchase online.
These vests can retail from between $25 up to $35, depending on shipping costs.