2Be:
-- Like all cities the range varies. However, I'd plan on a minimum US$800-1000 if you're single and mobile and upwards of US$2000 if you're married with kids and want to live in and around the main island.
I'd recommend you do your research on
http://www.gohome.com.hk and keep an open mind. A lot of the outlying islands and new territories are very accessible.
-- Next. Use and abuse your HR department. They should be helping you narrow down choices. Use them for research purposes only .... my HR department put me up on Discovery Bay in my first year in HK and it was not really the choice I'd have made.
By the way, email me .... I used to live in Chicago -- Downers Grove area and Downtown. Would be able to make some estate agent recommendations to you if you plan to live in Central.