I'm not sure about Web Hosting. Many of us use a dedicated virtual private server (VPS)
I use https://serverspace.io, I think Lemmy.ml is hosted with https://www.hetzner.com/
These are servers that you access via SSH and can install the instance inside of it. I personally install using docker compose, but there are some other methods that are claimed to be easier. The cost starts at ~$5 / month. Currently I pay about $15 / month. You would then rent the domain name from a domain name registrar (I use namecheap.com) and ask them to point the domain name to your server's IP address.