The median home value in Palo Alto is $2.5M per Zillow; in neighboring Menlo Park with comparable schools it's $2M. If you cross I-280 for larger lot sizes (and generally, though not always, more house square footage) you'll see the median home value in Portola Valley is $3.8M. If you don't like those figures, you can look at Trulia's, which says the median sales price for Palo Alto is $2.5M and the mean listing price is $3M.
Note these are generally not luxurious properties at those prices. Many are small postwar ranchers or Eichlers (beautiful but a pain to update) that have not been renovated in decades. Some houses have negative value because they're teardowns; you'd buy the property for the land.
After taking into account housing costs and California's aggressively progressive tax regime, you may find that $250K salary does not go as far as you like. You may make 2x-3x as much--but your cost for comparable housing may be 10x-15x as high and your tax burden will be more oppressive as well.
Not to mention that as a programmer you have the option of working remotely (for a healthy 6-figure salary) for whatever low-cost place you like.
Regarding programmers doing remote work they are the exception, and probably account for 1-5% of all developers I would guess. Regardless, they are definitely not representative of the average developer - which is what we were discussing.