I live in CA, and raise 4 kids while the total pay, including my wife's, just recently surpassed 150k (she works very low hours part-time). Not in the bay area though.

We would probably need about $20k more for the same lifestyle had we not gotten lucky with timing buying a house (we bought in 2011, right before a big increase in prices). Alternatively we could have kids sharing a bedroom and live otherwise the same.