As the title says, I'm looking fora decent mic for recording vocals and acoustic instruments, but am on a rather limited budget, so looking for something under $200. Any ideas?

I've been using a peavey studio pro cm1 for almost 10 years. it does require phantom power, but it's about as versatile and durable as they come.
https://www.amazon.com/Peavey-Studio-Ha ... B003A4J2FW

You could also take a look at the AKG Perception series, they are entry level but sound pretty decent for their price. I think the AKG P420 is priced $200 and it's a large diaphragm condenser with 3 switchable polar patterns, so it is pretty versatile.

^^^^ AKG make really solid, budget-friendly recording stuff. I'd look there first.

You can get an SM57 *and* an SM58 for under $200 (although shipping [and tax, if you live somewhere with sales tax] would push it over). This would give you both the industry-standard instrument mic (57) and the industry-standard vocal mic (58).

I second you sir, SM57 by shure is amazing!!! Though the 58 is more for vocals, the 57 is more versatile (from strings to percussion) and the sound that provides to low notes and growls is just perfect.

Well yes the 57 is pretty much the first microphone everyone gets, OP specified he wanted something for vocals and acoustic instruments so I imagined a large diaphragm condenser would be more versatile in this subject.

However a cool little trick you can do is combine a SM57 and a condenser microphone together, the 57 providing the low end the condenser the top end. It gets the job done, specially when you cant afford a Shure SM7 (which is stellar for growled vocals but a very expensive beast).

As for the SM58 well it's a legendary microphone for sure but the place it really shines is on stages, for studio and recording applications I would stick with the condenser!

Yes I already have a 57. Looking for something aimed specifically at vocal and acoustic recording, as I said. The AKG series looks promising.

Then just get the 58, which is designed specifically for vocals, and pocket your $100 extra (or spend it on acoustic treatment; unless you've got a professionally treated room, spending the money on throwing up some traps in the corners or otherwise improving your room on the cheap will be a bigger improvement than $100 on a mic nicer than the 57 and 58.)

Don't bother with a 58. Its almost identical to the 57 in terms of frequency response and polar pattern. Main difference is the 58 has a ball grille with built in pop-shield. Used to work with a guy who would take the grille off a 58 and mic up a snare, which you can of course do with a 57.

For under 200 bucks you could try:

https://www.lewitt-audio.com/microphone ... ct-240-pro

Condenser, cardioid polar pattern. Can be used across many instruments and voice of course (and they also look great especially in black!)
Austrian company. Heard many good things about em!

Sm 57. and I use the PG 57 that's even cheaper. boom good enough. I don't do any clean singing for anything so they great.

This! Lewitt stuff is great!