Here in New York (suburbs, not in the City), independant trainers range anywhere from $40 to $80/hr. I charge $60 for in-home sessions, where I provide the equipment. I've seen training in gyms for up to $115/hr.
I also offer a complimentary consultation (recently, I'm trying to avoid the word "free", and of course, always avoid the word "cheap"), where we explain, discuss, and fill out about 15 pages worth of health & exercise history forms, and discuss possible goals. This is a sit-down discussion and takes usually 45 minutes, there's no exercise involved (Just to be sure, I'll usually wear nice jeans and a sweater, or something "office-casual").
For the first year I was training on my own, I evolved from doing a free 1-hour training session, to a half-price session, but I eventually decided that my training time is more valuable than that. The sit-down consultation gives a little better idea of a client's personality (and allows them to see yours).