That may be true. The lifestyle in Silicon Valley is pretty awesome. I've lived in and visited several world class cities and the Bay area outshines pretty much everyone. You might be able to increase your friend pool if you are a technical person. For example, MakerFaire is happening soon! Or you could go to Noisebridge in SF. I've had awesome random tech conversations with people at coffee places (MV used to be full of folks doing YC). The place has excellent weather (by my personal standards - I don't like rain and snow). You have Napa, Yosemite, Santa Cruz, Tahoe and a bunch of other places nearby for weekend getaways.
Other cities I can recommend: Vancouver and Dubai.
Vancouver is climatically bankrupt (exception: Apr - Oct, then its the most beautiful place, heaven on earth!). Costs are about half of what you're paying. I lived there for a decade and went to college there, let me know if you want to know more.
Other cities I can recommend: Vancouver and Dubai.