There are two basic types: audio and video/audio. Some are analog, others are digital. All monitors operate within a selected radio frequency band to send sound from a baby's room to a receiver in another room. Each monitor consists of a transmitter (the child/nursery unit) and one or more receivers. Prices range from about $25 to $150 for audio monitors and about $80 to $300 for audio/video monitors.
It really depends on what you feel most comfortable with. There are audio monitors that allow you to listen to any noise coming from the nursery, vital monitors that track sleep and breathing and video monitors that add sight to sound. Babylist parents overwhelmingly choose video monitors. The security of seeing what your child is up to—like if they’ve gotten tangled in their swaddle, pulled their diaper off or climbed out of the crib—can be worth the extra cost of a video monitor.