My wife does a fair few small gardening jobs in a retirement village using astroturf, and everyone seems happy so far, although the oldest installation is maybe only 3 years old now. We have a rectangle of it on our veranda, which the dog likes, and it is very durable so far. How it will be in 5 or 10 years I cant say though.
I can tell you that it gets very hot in the summer sun, unlike proper grass, which stays fairly cool.
Re cost, the big B store has various types listed on their website.