Montreal: - av salary: cad$70k -> $55k - av rent: cad$860 -> $656 - net: $47 128
SF: - av salary: $135k - av rent: $3.5k - net: $93 000
Taxes are very similar so let's keep them out.
Again obviously this is back of the napkin, and there are other factors, such as healthcare etc. but actually, unless you have a very specific situation (lots of kids, lots of health issues, etc) it still seems better to be in SF, COST WISE.
I'm not saying life is terrible in Montreal, I love Montreal :) But having done both, in the technologies sector, the difference is huge. If you work in another domain this is not true, but engineers are paid so much in the US, it's hard to beat.
Also out of pure patriotism we just have way too many Canadians leaving so they can make more money in the US... but there definitely is innovation here also (maybe even more innovation, just less capital) so people who don't need as much money but are anxious about their skills getting outdated can definitely stay in Montreal.
That's to expect when the average participant lives a single young male life in SV or a major urban city with a large tech presence and hasn't reached an age where buying homes, child care, commuting, retirement, etc. become actual issues.
This is not a bad tradeoff -- consider 5x the rent and 4x the house price in SF, which is a less safe city with much worse suburb to city transit options, and only what, 2.5x the salary?