I love listening to hip hop and would like some bass in my headphones as well as good sound quality. Any advice that would be fantastic please let me know.
Merrry christmas by the way.

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Sony MDR-XB500. That's not necessarily a recommendation, just a starting point. Also, while doing your research, you will generally want to look for headphones that have lower impedance if you want headphones that can be driven by a phone. Anything around 40 ohms or under should be fine, I've even read about headphones with an impedance of 50-60 ohms that can be driven by portable devices. But definitely try to stay around 40 or under.
BTW, you may not think $150 is that big a budget, but you'd be amazed at how many great headphones can be had for under that price. I'm already starting to like this interest because of that fact lol. I personally just picked up some great headphones for $129 (which I won't recommend to you because they aren't bass headphones, but for me they're awesome).
Don't imply that you can tell whether or not a headphone can be easily driven based upon impedance! This is a complete urban legend. Case and point: Look at the AKG K701/K702/Q701 or any Hifiman headphone -- they all have impedances from 30 to 60 or so, but are very difficult to drive. At the same time, the Sony MDR-V6 has 63 ohm impedance, but is incredibly easy to drive. Whether or not a headphone is easy to drive is dependent on a combination of the sensitivity (dB/mW or dB/V) and the impedance working together.

Sony MDR-XB500. That's not necessarily a recommendation, just a starting point. Also, while doing your research, you will generally want to look for headphones that have lower impedance if you want headphones that can be driven by a phone. Anything around 40 ohms or under should be fine, I've even read about headphones with an impedance of 50-60 ohms that can be driven by portable devices. But definitely try to stay around 40 or under.
BTW, you may not think $150 is that big a budget, but you'd be amazed at how many great headphones can be had for under that price. I'm already starting to like this interest because of that fact lol. I personally just picked up some great headphones for $129 (which I won't recommend to you because they aren't bass headphones, but for me they're awesome).
Sony XB series whichever you can afford. They'll great for hip hop.
You don't NEED a portable amp to make headphones sound good. You can POSSIBLY make a headphone sound better with a portable amp but you don't need it. Personally, I stay as far as from them as I can. Have you looked up the Sony XB series? They isolate sound fairly well for listening on the go and offer good bass for their price. And they're cheap. And they look good (subjective). That's enough ands for me personally.
Does the XB1000 have decent treble and good midrange detail? The XB500 is huge, and imo too large to be used comfortably as a headphone to walk around in. Perhaps you should try the JVC HAM750( $55) instead. The HAM750 is also superefficient, at 115 db/mw and 32ohms, so even the lowest powered portables can power it to earsplitting volumes.
http://store.jvc.com/product.asp?Model=HA-M750#specifications
One thing I have learned so far.. you can stare at specs and reviews until your eyes bleed and pick out something with a horrible fit for your head.

Don't imply that you can tell whether or not a headphone can be easily driven based upon impedance! This is a complete urban legend. Case and point: Look at the AKG K701/K702/Q701 or any Hifiman headphone -- they all have impedances from 30 to 60 or so, but are very difficult to drive. At the same time, the Sony MDR-V6 has 63 ohm impedance, but is incredibly easy to drive. Whether or not a headphone is easy to drive is dependent on a combination of the sensitivity (dB/mW or dB/V) and the impedance working together.
I'm aware that there are other factors, that's why I said that "generally" you want lower impedance and that sometimes there are exceptions.
I'll take the liberty of suggesting you real headphones. Other than the other head fier 100 that actually suggested workable M50's the other junior head fiers had really good input on impendance but suggestions.
Ultrasone HFI 580-$118 highly recommended
Audio Technica M50-$160
BeyerDynamics DT770- ~$160
nonaudiophile just plain bassy:
Sony MDRXB500/700
There are many threads on here. The HFI 580's are the crowd favoreite. some poeple that are checking these threads may note that i am suggesting the HFI 580's a lot...my answer is that every person comming here(me included back then) likes bass heavy music. the HFI 580's just deliver it beautifully
check out HFI 580 reviews. there are 3-4 on head fi.
Denon AH-D1100, closed and bassy, only $107 at Electronics-Expo, need to use the coupon code "BOUNTII".
Normal price for these is $150.