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I don't know that it's a common problem exactly.
You need to realise that generally the rod bearing hasn't failed because it's bad itself. Usually there are lots of other parts all battling to stay together and as soon as the weakest part finally lets go the engine stops. Fixing the part that actually failed is not the way to repair the engine since that simply moves the stress that caused the initial failure onto the next weakest link and you actually have a weaker engine than before you "repaired" it.
You will need to go right through it and replace anything that's worn due to the lack of lubrication that caused the failure. Depending on how long it's been bad that could be as simple as new bearings to a new crank or even to requiring a new head if the cam journals are chewed out.
Until you actually get inside it there's no way of knowing what it might cost.
Personally, I tend to figure on spending a grand anytime I have to open an engine up but it's just a wild figure plucked from the air - if I don't want to spend a grand just yet it's probably best not to open up the engine yet. Most times a couple of hundred should cover whatever is broken but you need to be aware that it can climb rapidly once you're in there