On the other hand I was only saving around 10% of my income in. Nowhereville, Midwest (similar cost of living to Nowhereville, FL). I moved to the Bay Area. I'm still saving about the same rate, but it's a percentage of more than double the income.

I doubt 40% of Nowhereville, FL salary is as much as 20% of Bay Area salary for a large number of cases. Developer compensation in Nowhereville caps out much lower than it does in the Bay Area (I'm talking base salary): figure in RSUs and other benefits (e.g. job abundance) and it's almost a no-brainer that a move to the Bay Area is better.