That is definitely a localized phenomenon. I don't live in the Valley and my expenses are generally lower than that. (Or at least they are if I translate my expenses into single life. Though my "rent"/mortgage is just straight-up lower than that and you'd probably cry to see what I get for it.)

I tend to agree with you. In your position, you need to really want to live in SV for it to be worth it; you're paying a huge premium for the benefit of paying that huge premium.