Half way under the passenger side is your cat. Start it and let it warm up and then see how hard the air is coming out of the exhaust pipe. Like put your hand over it and see if tries to blow your hand off or if it just stops blowing. It should build up pretty decent pressure and try to push your hand off. If you cover it and your huffing noise gets worse then its for sure an exhaust leak and if it is indeed from that area you're saying, its your cat area. Take it to a muffler place and ask them to check it for you.
All the times I had exhaust work done, the most it cost was 200 bucks so if its bad, expect around that much. If its just a leak though, should only be 40 or 50 bucks to fix