Pricing your gym: how to land on a number that doesn't leave money on the table or scare people off

New gym in a mid-cost-of-living city. Considering $150-200/month. Locals have told me $200 is "too much" but I've also been told my retention numbers will be better at $200 than at $150.

The right number depends on what you're competing against. Big-box gyms at $80 = different game than premium gyms at $250. Where do you actually fit?

Curious what other gym owners landed on and what worked.