Even if a market is "saturated" overall, there may be a niche you can exploit. The trick would be to come up with something that would make you different from the other players -- identify an area of specialty or a specific target audience where you could become the local expert and "go-to person", for instance. So, if you have an interest and talent in desktop publishing, then I'd say put on your thinking cap, come up with something "special" you can offer, and go for it!
If you have knowledge of graphic/web design, you may also want to approach local hosting/design companies to see if they have any need for freelancers. I know several smaller hosting companies in my area who offer site design and maintenance services to their customers and who have perennial difficulties finding talented and reliable people to provide even basic HTML coding services. Your startup costs for something like this would be essentially zero, assuming you have a computer and Internet connection already, and it could be a relatively quick source of revenue.
If you like to write and have magazine/newspaper experience, freelance writing may be another opportunity to investigate. The Writers' Weekly
website and newsletter has a lot of resources to help you get started with that. Again, assuming you have a computer and an Internet connection already, this is a near-zero startup cost idea.