Let me level set by saying I went to a bootcamp and have two years experience. I make 165K (25% higher than 130) and my 3 close bootcamp colleagues all make around the same. I don’t work for some hot company like Google - 95% of people reading this haven’t heard of us. And just to be clear this is all liquid compensation (cash, bonus, and public stock equity).
So yes for me and my closest friends with comparable experience SF is by far the best option economically.
Note as others have mentioned; I don’t think that will be the case when I start a family.