A high quality vinyl fence will outlast a wood fence and retain its look. A good quality vinyl fence will retain it's color and durability. Lighter color are more resistant to chalking and fade, longterm. Go with a manufacturer such as Certainteed which have warranties
http://www.certainteed.com/CertainTeed/Pro/Contractor/FenceDeckRail/Warranty/
to which offer investent protection.
Wood or Vinyl?
Wood looks nice when installed and treated with the proper finish. Wood will require constant maintenance to keep it looking good and prevent decomposition--remember, wood is biodegradable and will do so, given enough time. Bugs like to make homes in wood too. In Utah's climate where I live, wood fencing needs to be treated every 2-4 years, depending on the type of finish. Using a stain/sealer with a 350 Sq ft/gal coverage rate, a cedar fence is porous and as it gets dried out and weathers, will soak up more stain, so your coverage rate may be more like 200 Sq ft per gallon. 2 coats will be required for the initial staining of a fence to do the job right.
Semi-transparent sealers/stains allow the natural wood grain to show through, but offer less UV resistance to fading/weathering than a solid bodied stain/sealer. Either way, wood requires regular maintenance to prevent the aging process and keep the finish looking good.
For a cedar fence: 100 ft L x 6 ft H is 600 sq ft x 2 sides =1200 sq ft / 200 sq ft coverage rate x 2 coats =12 gal of stain x $30/gal (Sherwinn Williams Woodscapes) $360.00 + paint thinner for cleanup, masking, airless sprayer rental.........you're really close to $450.00 plus your labor, just to finish the fence right. Plan on spending this about every 4 years to keep your fence in good shape.....$2250.00 plus labor for 20 yrs of maint. at current pricing.
10 years of painting experince made me choose vinyl for my fence. I made good money staining and sealing of cedar fences, decks and siding.
Vinyl fence comes in various shapes, sizes and colors, is easy to install (relative to ones ability to walk and chew gum.....) and will outlive a wood fence. Bugs won't be temped to make vinyl fencing a meal/condo. Just like wood, vinyl fence colors can fade over time and chalking will take place eventually but an occasional power washing with soap and water (5+ years?) will keep it looking clean and fresh. Climate and weather has less effect on vinyl than wood, but both are subject to UV rays.
Hope this helps.