Lasers are better for text with spot color graphics, inkjet is better for photo printing.
You can get a Canon iP6000D for under $100. shipped from BeachCamera.com. It is a 6-color photo printer that uses the BCI-6 ink tanks, clones of which can be had for as low a $1. each. They are separate passive ink tanks for each color that can easily be refilled to save even more. Very reasonably priced prints if you can find good prices on decent paper. I found some Kodak EveryDay soft-gloss 4x6" for 7 cents a sheet (100 sheet packs). Those make for nice prints.
Some big box stores are also blowing out the iP6600 (which superceded the iP6000D) for about $90.AR as the iP6700 is already on the shelves. These also have separate tanks but they are chipped. Currently you have to move the chips from the OEM tanks to the clone tanks and the tanks are considerably more expensive. Given the time to mature in the market that the 6 series tanks have had, the price will get into the same ball park for the chipless clones. And clone chips are supposed to be "on the way".
.bh.