With something like a N100- or N150-based single board computer (perhaps around $200) running any number of open source DNS resolvers, I would expect you can average around 30 ms for cold lookups and <1 ms for cache hits.
Edit: How to serve the root zone locally with unbound. https://old.reddit.com/r/pihole/comments/s43o8j/where_does_u...
[0] dig axfr . @k.root-servers.net
[0]: https://root-servers.org/ [1]: https://github.com/jschauma/tld-zoneinfo
Even if a root server wasn't in the US, it will still be pretty slow for me. Europe is far worse. Most of Asia has bad paths to me, except for Japan and Singapore which are marginally better than the US. Maybe Aus has one...?
Incompetent admins. dnsmasq at least has an option to override it (--min-cache-ttl=<time>)