Most decent 1911 pistols cost more than an entry-level AR-15. Counting Springfield Custom Shop work, I paid $975 for my 1911, and paid $1100 for my AR (had I been a bit more savvy, I would have built one from scratch myself - for about $300 less).
My current AR is a S&W M&P15 MOE, but I've changed it quite a bit from stock, and I'm not done yet. It's got a different stock, pistol grip, flash hider, front and rear sights, and trigger guard, and I've added a sling adapter, a red dot sight, and a front grip that I'm about to remove (because I don't care for it not that it's installed). I just ordered a stainless miid-length barrel for it, and I'll be using that to build a complete upper. I'm not a fan of the quad-rail appearance, and see no reason to have stuff like a bipod, flashlight, flare launcher, or toilet paper dispencer hanging off the forearm of the rifle. I like my rifles slim and trim.