Being near the ocean is a hard requirement. And weather that isn't terrible (bay area weather isn't actually very good, but it's also never terrible). Where else could one go?
Florida could be nice but it is low land being taken over by rising oceans so not a great strategy. Washington state coast sounds promising but there is snow up there, so a hard no. Oregon coast is pretty inhospitable for water sports. Southern California isn't particularly cheaper. Southern east coast (north of Florida) could work, but way too much racism so as a minority that's a pass.
SF Bay to Monterey Bay is a sweet spot in the USA that is hard to beat.
At some point you have to square with the fact that your 2 million dollar home in the bay area is an order of magnitude more expensive than a comparable home in a dozen more or less comparable places, given that you'd be working from home at the same rate anyway (in this hypothetical). And then you'd have plenty of money left over to fly back to the bay whenever you'd like.
I don’t think there are many places in America with good transit that are walkable so I think it’s going to be tough to find that for $200k. And if the solution is just to move somewhere so small you don’t need transit, then you lose out on the varied restaurants, cultural events, major airport, etc.
The better places for transit like NYC, SF, Chicago, and Denver are all major cities so you won’t find dirt cheap houses near the transit.
Chicago was the example that most came to mind as something with cheaper houses and transit, but without knowing it very well my sense from talking to people is that there is a lot of cheap housing in Chicago but living in the urban core isn't necessarily cheap.
(just kidding, we need all of you we can get)