Hung hom has been my favourite area to live in Hong Kong (I've only lived on Kowloon side because of work). The Whampoa area is close to the MTR and has a lot of decent shops and restaurants, and I like it because it's out on the street and not another bloody sterile shopping centre. In contrast to what someone else said, there are plenty of westerners who live in hung hom, plus a lot of Japanese. There are a couple of serviced apartments if you want to test out the area before you commit to anything.