For an inkjet printer, Epson brand printers might be your best option. The printers are a reasonable cost while at the same time offering less expensive ink jet cartridges. Epson ink cartridges do not have the ink head on the cartridge, so you can find off brand cartridges for them for a very low rate. Also, the cartridges are easy to refill yourself if you choose to.
But overall, a laser printer in the way to go. You can get a Brother laser printer for less than $100 and get an off brand toner cartridge for only $30. The toner cartridge will last you for longer than you can image. Also, laser printers are easy to work on yourself.
I know a laser printer in that price range is a monochrome printer. But really, printing photos at home is not economical at all. You can get your photos printed at a drug store for less then half it costs you to print them on a home photo printer, also they will come out better.