Vermicomposting like was mentioned it great, should produce no odours and is easy and low -cost to start up.
You can also check out various websites to order apartment model indoor composters
or helpful hints for composting in apartments such as:
http://www.toronto.ca/compost/balcony.htm
http://journeytoforever.org/compost_indoor.html
if you do however have a small space in your yard where you can compost, a non-treated wood composter is much more preferable over a plastic composter. The quality of your compost will be much greater, you will get to spend time composting outside, and see how the process happens. Plus it will have contact with the earth which is much more favourable than contact with plastic. (This is with regards to apartment composter models, but vermicomposting is still a great way to do it)
hope this helps a bit
happy composting=
