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I'd start with a 1GB RAM or even half of that, just make sure that your caching system is not using more RAM than you can assign to that.
If you are looking for hosting on your own, find a basic VPS, which could cost $20/mo or even less. It will be key to have root access to the machine or have your hosting provider explicitly say that they support hosting Python/Django applications.
I'd start with a 1GB 1MB RAM or even half of that, just make sure that your caching system is not using more RAM than you can assign to that.
If you are looking for hosting on your own, find a basic VPS, which could cost $20/mo or even less. It will be key to have root access to the machine or have your hosting provider explicitly say that they support hosting Python/Django applications.