There is a lot of choice these days for bike stands, and they all differ in stability, portability, and usefulness. The key to picking the right one is to narrow your choice down to the style that works best for you, according to your needs and budget.
Here is a good guide to follow:
1. Decide if you are a real do it yourself kind of person and want to build your own bike stand or buy a quality manufactured one. If you are into cutting metal pipes and building your own, there is plenty of information out there on how to do this for around $30 in parts. These are not going to be so portable, and it really needs to be done correctly in order to hold your bike properly and stable. If this option is not for you, then you can move on to choosing a good manufactured one.
2. Ask yourself if you want a bench / wall mount repair stand or a fully adjustable one. A bench or wall mount stand is only if you have a suitable location to screw in a permanent clamp on your wall or work bench. They are great for stability and take up very little space but your bike will be held at the same height every time you work on it. Interestingly you are not necessarily saving money with this choice as bench or wall mount stands can cost as much as the fully adjustable ones, but it is possible to get a basic one from a good brand for under $100.
3. If you want more than a simple bench or wall mount for home repairs, the number one quality you should look for is stability. Your bike needs to be held firmly in place so you can work on it. Second and third qualities are that it should be easy to use and you can put it away when you are done with it. Look for a good sturdy tripod base stand that can fold up and be put away. It should have adjustable clamps, the ability to rotate your bike 360 degrees and adjust to whatever height you want to raise your bike to. The cost for this style can range from $120 to $300, but you can get a good sturdy one from a reliable brand like Park Tool for well under $200 unless you have some specialty needs.
4. If you are a racer, then you are probably going to need a racing stand which is going to cost around $200 to $300. Racing repair stands serve two purposes. They are super light and portable so that you can take it on the road with you and they usually hold your racing bike without grasping the ultra light frame tubes or sea posts. You sacrifice some stability with a racing stand, but in your case portability will likely be your main concern.
A good bike repair stand can be a one time purchase that will last you a long time. If you are into cycling and are going to be regularly doing your own bike repairs and/or cleaning, it is definitely a worthwhile investment.