Just shop around first to get prices. Poor in comparison to the nearby regions. At best, interesting to small critter hunters. At worst, just crappy. Accomodation variable but mostly average to upmarket prices.
Food is cheap for good local fare.
Alcohol can be expensive. Plenty of places in Singapore to stay all the way from the YMCA to Raffles hotel. Don't expect budget motels here though. Singapore is a food heaven with possibly too much choice. Whatever you want I'd say you can get it here.