They are more of a convenience but are very close to must have. When you plan a dive with tables you are assuming a square pattern of diving with the deepest dive first. Dive computers will allow for up and down with deeper dives coming later in the dive. You can still dive with tables but computer so much more convenient especially with repeated dives on the same day.
The price is a subject of function. You will have to decide if you want a basic computer for time, depth, and temperature or other features like a countdown for remaining dive time, nitrox, other air mixes, etc. Air Integration is very convenient but also more expensive. It should at least be capable of nitrox so you can grow into your computer. Some will allow you to check your buddies air as well with air integration. A few will have a digital compass as one of the features. A very basic computer should not be too expensive.
As you gain experience you may also want to determine what algorithm the computers use. Some manufacters use a very conservative algorithm - Suunto in particular. If you dive with a buddy who has a more liberal algorithm your computer may be giving you an alarm and your buddy's computer may still be in a green 'safe zone.' Some Oceanic computers actually allow you to choose the algorithm, but as the features grow on the computer so does the cost.
You can get a console style with hose attatchment or wrist. The wrist mount has two basic style, console size which is larger and watch style which is smaller and slimmer. Watch style as name implies can also be used topside as a watch.
I currently use an Aeris XR-1. Very basic but still gives me everything I need on a dive, but I have to use a separate SPG for air. I found this particular computer online at scubatoys in their open box demo area for $125. I will eventually upgrade to an AI computer soon, but will now have a back up. It works very well for now. I'ts too large and bulky to use as a watch, but for the the price would prefer the dive computer to dive watch and tables.
Good luck, safe diving.