$175.00 to $200.00 is able to get you into a good rod, line, reel, and line backing. There are several combo set up available in this price range that include everything but the flies and casting lessons.
If you take a look is the areas Fred suggested, you could get yourself commpletely set-up for less. Remember, you don't need to have the most expensive rods and reels in order to get started and enjoy fly fishing.
You left out some important information for us to give good recommendations to you though. We need to know what fish you are gong to pursue, the size of the waters you are going to fish, and how much you want to spend or think of as expensive.