One possibility is a regular bike + trainer combo. Find a comfortable bike whether mountain, road, hybrid or cruiser. You can pick up a used magnetic trainer for maybe $20-50 or go all the way up to a smart trainer that automatically adjusts the resistance. Add in a speed sensor and maybe a cadence sensor and you can run Zwift, trainer road or another bike workout app if you want more structured.
you can easily take the bike off the trainer for outdoor rides.
Yep, if you want to own an actual bike and mix it up with indoor training, that's an awesome idea.
@rainafterthesun
In addition to the solid idea above, if you do want a stationary bike, just consider getting a good bike from Sunny, Schwinn - 40+ lb flywheel, magnetic resistance, belt drive are huge pluses, then if you want to use cycle shoes, SPD clips for the pedals, and probably a device holder/rack (the pedals you can add yourself, but there's plenty of options that include all the aforementioned right out of the box).
Add a cadence sensor (ex: Wahoo for ~$40), and instead of the Peloton cycle subscription for $39/month, get the app for iOS for $13/month. The bike should be under $700, plus the subscription, you're under $900 for the first year
The app works great, can be combined with heart rate sensors, records cadence including a later model Apple Watch, it integrated very cleanly into the Health/Workout apps. Plus, you get all the other non-cycle workouts (running, HIIT, Yoga, all sorts of good stuff).
I have a post back a few pages that goes into the non-Peloton cycle experience in a little more detail