Background: In the last few decades, research related to balance in older adults has been conducted in lab-based settings. The lack of portability and high cost that is associated with the current gold standard methods to quantify body balance, limits their application to community settings such as independent living facilities. The purpose of the study was to examine the test-retest reliability and the convergent validity of static standing balance performance using an accelerometer device. Methods: A total of 131 subjects (85% female, mean age 80 ± 8 years) were included for the validity aim, and a sample of 38 subjects were enrolled in the reliability testing (89% female, mean age 76 ± 7 years). Acceleration data in the anterior-posterior and medial-lateral directions was collected for different standing balance conditions. Test-retest reliability was assessed over two testing visits occurring one week apart. Spearman’s rank correlation coefficient was used to test convergent validity at baseline. Results: Balance measurements showed good to excellent reliability in most of measured parameters and were correlated with mobility measurements. Conclusions: Using a portable accelerometer to quantify static standing postural control provides reliable measurements in community settings.