Good question. I'd like to hear about balcony composting too.

I think there is a compost forum here, but usually takes up to a yr to make usable compost. You can also buy special 'bins' to hold it.

I have heard about (but know little re.) 'blender compost' - take fresh kitchen waste, blend and use immeadiately! Not sure if this would be a health hazard though!

Vermicomposting (small container composting with worms) is possible in an apartment or condo. Check out the forum here on Gardenweb. For a good summary, also check out the website below...

Here is a link that might be useful: composting with worms

You could try this setup; I haven't tried it myself, but it looks interesting.

Here is a link that might be useful: apartment composting

If you understand spanish, there is a web page that give options for making compost in your house. They have containers for composting of less than a square meter, and it also allows to have natural liquid compost. You can use all rests of vegs, coffe, infusions, newspapers and fruits. The web is www.compostadores.com