Tetron looks/feels like cotton, keeps the pleats like polyester (rightly so, as it is) even after machine washing and wears like iron. It doesn't get shiny in the knees. The Iwata brand is the way to go but for your budget try mugendo budogu
carries a tetron
P.S. I recently bought a 30 kan cotton hakama from Kiyota and love it inspite of the care it demands. I think it will only get softer and age better with time so it's worth it to me.