My nephew was recruited to Silicon Valley out of college - $175K a year - masters in engineering and top of his class so I assume everyone doesn't make that, but him paying $400K would be the same as the average South Carolina Engineering grad making $70K and paying say around $160K for their first shack. You would think nothing of it.
I'd take the $70k/yr and $160k home, but that's just me. I would absolutely hate living in Silicon valley. WAY too many people and congestion. 5,774 people per square mile vs 51 people per square mile where I live. lol It would do me no good to have the higher income if I have no quality of life. I like my seclusion and tranquility.
I was stationed in Monterey for 1.5 years. It was fun for about a month, then I couldn't wait to get out of there. The congestion aside, it's the only place and time I was ever spit on for the sole reason of being in the military. I'll never go back.