Depends on your preferences. Do you want to live in a Western style apartment or a Vietnamese house? Do you want a professional landlord? Do you want to live where many foreigners live or in a Vietnamese area? What is your budget? Do you want relative quiet? Do you need to live near your work? Do you want to live near a landmark? Do you want close proximity to Western restaurents?

Many people like to live near a park or a lake so they look at West Lake/Truc Bach or Lenin Park. If you want hustle and bustle and don't mind noise look at the Old Quarter. Also a good choice if you want close proximity to the most Western restaurents (also look just south of Hoan Kiem Lake for this). If you are on a tight budget then you will have to look further out and compromise on these local "amentities".

I am looking for a street that is somewhat quiet, and has cafes and shops within walkinng distance. I am also looking for a place that is no more than $500/month.

Hoan Kiem lake sounds good, does anyone know of available apartments there?