I was recently quoted about 875.00 for the timing belt and water pump on a 01 outback. (Joliet, IL)
That price included the timing belt and pump and the hydrolic tensioner though.
I spent about 600.00 and replaced the timing belt, all idlers, tensioner, water pump, thermostat, a.C. And power steering belt, upper and lower radiator hoses and fluid myself. Was a bit of a challenge and took the whole day but it all went fairly well.