Depends where you are, and what you're doing. That seems like a reasonable rate to me for a lot of things, but it's low in the bay area, and maybe it's high for other places.
I'm in New York, everything is expensive so I thought it was pretty reasonable. For example, one job I gave an estimate on, would easily be a 100 hour job. So I gave an estimate of $5000. They wrote back to me and said they got another offer for $1500.
I'll defintely try raising my price.
Any thoughts on good places to look for work. I have been primarily using Craigslist. I've been getting a good amount of replies. I do not like the sites that make you bid for the work. Seems like that requires a lot of effort, for low prices.
Craigslist is practically the bottom of the barrel for freelancing.
There's a ton of other services and non-traditional sources including tech blogs like Techcrunch and GigaOm (sounds nuts, but biz people go through them).
In NYC, $50 is definitely too low, I think. Of course you didn't say what it is you're doing (reworking PHP scripts, or writing financial models in OCaml, or whatever), which makes a difference too.