And by that definition, you could make it work with $4.2M in the Bay Area, but it depends on your lifestyle.
Even with a median home of $1.7M, assuming you own it, you'll still need $20K/year just for the property taxes. You'll need transportation, which will cost you about $5000/yr because you probably live in the suburbs so you either have a car or two or use a lot of Uber/Lyft. You'll need food, which maybe if you're super frugal you can get down to $200/wk per person, so lets say 2 people, that's another $20K/year. Let's say you use thrift shop clothing and can get away with paying only $500/yr for clothes. So we need about $45K a year after taxes. If you manage to get all your money from long term cap gains, you'll need pretax earnings of about $57,000/yr for subsistence living for two people, which if you can find a nice 5% per year return, you'll need about $1.2M.
So for two people to live a minimal lifestyle in a median home with an amazing investment return that is very tax efficient, you'll need $2.9M.
But most people want more than substance living, can't get that kind of return or tax efficiency, have more people in their family, and want more luxuries.