I had a couple companies interested in recruiting me to the Valley in the mid 90s or so. One of the reasons I decided not to pursue was cost of living relative to the not inexpensive Boston area. And the companies even acknowledged that was the case.
Yep, I also had a job offer in the bay area in either '99 or 00' (time flies!) I was seriously considering. After doing the math, I'd have had to make almost triple my flyover state job at the time so I didn't pull the trigger.
That was probably an accidentally smart decision since months later the world imploded, and the company giving the offer went up in even more spectacular fashion that most.