The short answer is yes. The long answer is, of course, it depends on your spending habits. However, you can definitely find a nice shared apartment for under $10,000 per month. Transportation and food aren't really that bad here. Besides fancy restaurants and overpriced Western food, the regular Chinese restaurants, small South/Southeast Asian places, and supermarkets are pretty reasonably priced. Depending how many trips you take a day your expense for the MTR may not be more than $600 or so for a month. You can get a phone and prepaid sim card for cheap as well. It's mainly the housing that is expensive here and going out to bars/clubs and probably buying designer clothes though I do not have any first-hand experience in that department.