No, not "everything else". Restaurants/coffee shops/clubbing may be cheaper too, children daycare too, even some groceries. And taxes, as already pointed out.

Just an example calculation: If you can save $1000/month on rent and another say $150/month on other living expenses. that's $13800 annually. That's about $138000 annually net salary right now ($124200 after the cut) to break even, or about $180K-$210K pre taxes and pre cut, living in San Fran. Now, if you move to an area with lower taxes that break even point will only go up.