Los Angeles is a big city. The valley pretty much sucks - but apartments aren't as expensive as in Silver Lake, Hollywood or Los Feliz. However, those are the coolest places to live. If you choose Hollywood, try to stay west of Highland Ave. And don't go too far east of Silver Lake or you will end up in Echo Park.
Most newer apartments (read: A/C, amenities, gated entry & parking, elevators, ect.) are priced between $800-1350 for a one bedroom and $1050-2000 for a two bedroom. If you are into older buildings (read: hardwood floors, no A/C, "old world charm") the prices are lower.
Good sources for rental listings are Craig's List (
www.craigslist.com) or the Recycler (
www.recycler.com)
Good Luck!
