Peonies are my favorite flowers. I wish we could grow them on the Texas Gulf Coast, but it is too hot here. Peonies require freezing winters, so there are many parts of the country where they do not grow, and their blooming season is very short .... both factors probably contribute to making them expensive.
I lived for several years in Calgary, Alberta, Canada. There would still be snow on the ground in May when the peonies bloomed. They are very hardy in cold climates, and there they would be, pushing up through the snow, blooming their hearts out. They were particularly lovely in a large bed in a city park, surrounding a World War I remembrance cenotaph.
Cut peonies can be dried so you can enjoy them year round. I have purchased cut stems from a florist while visiting family members in Oregon and hung them upside down until they dried (the flowers, not the family members LOL!!!). They lasted for years, although the color faded over time.
I have also seen very lifelike faux stems at Michael's and Hobby Lobby, and have created beautiful lush arrangements for my home. The Peony brand florals from England sold on QVC are also lovely and very lifelike.
Our consolation in the South for not having peonies are the azaleas and hydrangeas, also beautiful. Those of you who have natural peonies are so blessed. Enjoy!