The compression is actually determined by the distance from your subject, so a 50mm on APS-C would require the same shooting distance as a 80mm on a FF, and thus have the same compression. Depth of field will be different IIRC, because on FF you have a longer lens but are closer to the subject (also the Circle of confusion eehm contusion also plays into this equation).
Back to the original question:
50mm on APS-C is okayish for portraits, and also okayish as a low-light general purpose, but IMO not great for either one. For portraits is should be longer, for general purpose in low light it might be a little too long. I would also recommend the 85mm f/1.8 for portrait and low- light short telephoto, and something in the 30mm range for general purpose. The Sigma 30mm has many happy owners, maybe the old 28mm f/1.8 used is another option, or the 35mm f/2.
If it can be only one lens to cover both use cases, then the 50mm 1.8. 30mm is not a recommended portrait focal length.
I personally started with the 50mm 1.8, added the 85mm 1.8, and have not yet added a 30mm low-light. I might in the future, but I don't miss it desperately yet. Really depends on personally preferences. So far I make due with the 50mm 1.8
If you find a good deal or buy refurbished or used, you might get the 85mm and the 50mm within or slightly above your budget. You can then add a 30ish mm lens later if you miss that focal length





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