Like most smart home tech, smart locks are getting more affordable all the time -- but that doesn't mean they're cheap. Between the conventional hardware (which often includes a deadbolt and other parts of the lock mechanism), the "smart" hardware (which includes computer chips and various kinds of radios) and the software (which includes digital security measures like encryption), a lot goes into a smart lock. So finding one for under a hundred bucks, which isn't unusual these days, is actually a solid deal.