Almost any large home improvement project requires that you hire someone to hang drywall. There's just no way around it. Drywall contractors vary in the prices they charge, however, so it's important when considering drywall cost to compare rates in order to get the best deal.
What It's Going To Cost
It's important to remember that prices for materials and labor vary from one locale to another, as well as from project to project, so the best way to get an idea of what any drywall project is going to run is to talk to drywall contractors in your area. Nonetheless, it's helpful to get a general idea of what a typical drywall installation is going to run, just so you have a frame of reference once you start talking to potential contractors. Drywall cost is fairly standard across the board. For your typical drywall installation you should expect to pay at least $1 per square foot. Maybe a little more, maybe a little less, but all in all this is a fair price.
You Get What You Pay For
As with any home improvement project, you should expect to get what you pay for when it comes to drywall cost, especially when it comes to installation. Remember, nailing up the sheets of drywall is the easy part. If that was all drywall installation required, drywall contractors would be out of a job. The trick is covering the nail holes and seams so that when you paint over it, there's little or no evidence that you've got anything but a solid, single wall beneath. If you try to cut corners here you're likely to get someone who does shoddy work when it comes to covering up the evidence, and you'll be reminded of your lapse in judgment every time you walk past the area where the cut-rate work was done.
More for Less
Finally, remember that the smaller the job in the drywall world, the higher the drywall cost is going to be. Expect to pay quite a bit more per square foot for a drywall patch than if you are having someone drywall your entire basement remodel. And remember that the best way to get an idea of drywall cost in your area is by talking to the locals. Check some references, get some estimates, and your drywall project will be underway in no time. 
Matt Goering, formerly a carpenter and house painter, is a freelance writer for the home improvement industry who has published over 600 articles.