I recommend using a pfsense or opnsense router for the best security. Depending on your connection speed, it may also provide better performance than off the shelf routers. Many off the shelf routers can only handle up to about 100Mb transfer rates because of a lack of processor power, where a pc based router is likely to have far superior performance. I have one set up on an AMD A4-5300 based system that cost me a total of about $100. (I already had the case, SSD, and memory. I only had to buy the power supply, motherboard, and CPU.)
As for the modem, that depends on how fast your connection is and will be. An 8X4 modem, like this...