Best, cheap portrait lens (oxymoron, but needed)

What would you say the best lens for a portrait set-up would be? this will be my first lens, would a more or less "kit lens" work? I am looking at having about $200 (If I am lucky) to spend on the lens itself.
Any suggestions would be greatly appreciated, but I sure would like an explanation as to WHY you suggest the lens you do!
Thanks
Parker

Canon EF 50mm 1.8, which you already have on your wish list

Your gear list says you have a Nikon D50 and an 18-55 kit lens. So you should be able to see how a kit lens works for portraits already. They are OK, but only if you have a lot of light and don't need a terribly blurred background.

Can I ask why you are straddling two systems if you are on a limited budget? IT only makes it that much harder to put together a good kit. I think it is time to pick one or the other and get more or less a 18-55 IS/VR, 55-200/250 VR/IS and a 50mm f1.8. THat gives you standard zoom and telephoto with stabilization, and a short, fast portrait prime. Very versatile kit which should come in under $500 on either system. Sell all the lenses you have now and start with some newer, better lenses.

krb- thanks, that's what i was thinking
tkbslc- the nikon is moving out for canon to move in, it's just taking time, as soon as the lens comes back from the repair shop it (by itself maybe) or it and the camera, are going up on e-bay to fund a second lens, or extra "stuff" of the photographic nature (camera bag/cards/flashes/etc)

that 50mm F1.8 is the cheapests portrait lens you can get.

Canon 50mm f1.8

jpbimages wrote in post #9772358
krb- thanks, that's what i was thinking
tkbslc- the nikon is moving out for canon to move in, it's just taking time, as soon as the lens comes back from the repair shop it (by itself maybe) or it and the camera, are going up on e-bay to fund a second lens, or extra "stuff" of the photographic nature (camera bag/cards/flashes/etc)

In that case, my recommendation is the same. Best budget kit is definitely the 18-55 IS, 55-250 IS and 50mm f1.8.

Canon 50mm 1.8 is your best value. I love this piece of glass once you get your head around the focusing issue.

How about some Manual focus lenses? The Olympus 135 2.8 that I had was great, and it really is very easy to adapt to EOS. If you don't want manual focus glass, then as suggested the 50 1.8 is the way to go.

Dave

Yes, you don't have other choice other than 50 1.8 to fit in your budget, unless you go for some used MF lens.

for a crop camera the nifty fifty can't be beat for the price.

rokinon 85/1.4

50mm f1.8. Takes very reasonable pictures just in $80.

If you can stretch to it the Canon 85 1.8 is an amazing portrait lens which IMO would be better for portraits than the 50 as it will help you to blur the background around your subject and the perspective will help to flatter your subject due to the longer focal length. having said that, it is $170 over your budget unless you get very lucky with a 2nd hand model so at the end of the day I think you should go for the 50. I just thought I would through an alternative into the mix

If you can live with manual focus, the Rokinon 85mm f/1.4 is about $230 and is about 98% of the 85L in optical performance. It's manual focus, manual aperture, but it's a fantastic lens optically. Bokeh might even be superior to the 85L.