What is your pipe from the compressor to the gun?
A good air handling system including pipe, traps and passive filters is usually a cheaper way if not used frequently or exclusively for painting. I have usually used a longer length of pipe at least 20-30 feet with water traps and then an inexpensive water filter and then the attachment the hose attaches too. It cools the air and the water goes in the traps and filter. The filters which resemble toilet paper can be exchanged and dried between uses. Before that the water was not just in the first couple minutes of spraying it was there all the time just not in the volume. We also made sure the compressors get drained frequently. By backtracking the pipe and using traps at each corner this type of system does fit in the average garage.
The length of pipe and traps also are used for all air use so we get the benefit of the set up for tools, air fills, and painting. I was surprised at the amount of water in the traps even when not painting since I had fought putting a good air system together for years. I have learned a lesson and use a good set up everywhere. The current system I have in the garage was a few hundred less than the air dryers at the time. HF is not a local business. In the main shop where we paint more often we have an air dryer on the paint air line, but for the three or four times a year we paint in the garage I do not miss having an air dryer.