I'm familiar with these opportunities. They are not entry-level positions, they are highly technical positions which require extensive architectural experience...the sort that individuals often have mid-career (often with children, braces, school tuition, medical co-pays, etc.)

So yes, $300k for a mid-career position is clearly not enough in the Bay Area. Could you raise a family in a 1BR, yes you can! But there is a "shortage" of people who want to raise a family in a 1BR. There is no magic here -- pay would need to be commensurate to experience + cost of living or people simply will not take the job.