Vinyl and laminate tile is often considered an inexpensive alternative to other building materials. Early vinyl and laminate tile was certainly "cheap" in every sense of the word. Since they are both relatively new materials, to some extent they have been unfairly written off before they hit their stride.
Whether they are the best choice for every situation is left up to the homeowner installing them. This much, however, is certain: the popularity of both vinyl and laminate tile is growing. People certainly like the price, but there are other qualities as well causing such mass appeal.
Vinyl Tile When it comes to cost effectiveness, vinyl tile is at the top of the list. It is inexpensive to purchase, as well as install. Vinyl tile will not have the expanding and contracting issues of wood. It is very easy to clean and maintain; high end vinyl tile can last upwards of 20 years.
Homeowners installing vinyl tile will be happy to know that it is available in many different colors, patterns, and designs. Its installation varies, but in no case would it be considered "difficult," which makes it a great project for DIYs. Some vinyl tiles are self-adhering, while others require either a standard or spray adhesive. Though the vinyl itself is quite resistant to water, the adhesive used to put it on might not be. While it can certainly handle reasonable amounts of water, overexposure could cause problems.
Laminate Tile Laminate tile is glue-less and works using a groove-and-tongue locking system that requires no adhesive to install. It is a tough, durable material that is inexpensive to purchase and moderately expensive to have installed (though laminate tile can be installed by a DIY, as well).
Unlike vinyl tile, laminate tile doesn't generally come in a wide variety of colors and patterns. It is most often made to look like hardwood or stone (though there are many different kinds of stone and wood it can emulate). Some laminate tile looks enough like wood that it is very difficult to tell the difference between the two.
When it is installed in a very wet environment, laminate tile must be installed very carefully and the seams need to be sealed. Special installation techniques are used when it is installed in laundry rooms or bathrooms. It is especially susceptible to pooled liquid.
The Verdict Laminate and vinyl tile have come a long way from their less than spectacular roots. Both are durable and cost effective; both are unaffected by many of the problems associated with natural materials.
Unfortunately, neither (as of yet) is considered as desirable as the natural materials they are put in place of. If you are looking to increase the value of your home, they will not raise it as much as other materials. If you are looking for a good floor that will hold up to a lot of traffic and not cost an arm and a leg, laminate or vinyl tile is certainly an option to consider.

Jon Nunan is a freelance writer who draws on his experience in construction, ranging from landscaping to log home building, for his articles on home improvement.