MV/Palo Alto: $1300 - $1900 (The range is wide but the more closer you want to live to downtown,the more expensive it gets. Furnished is going to add a huge cost and getting a 1 br will definitely hike it up even more)

Food: $200 (If you cook and eat very rarely out). However, the average cost of a "cheap" meal is roughly around $10, so do the math for how much that would cost per month.

Transportation: If you are going to live in the valley, you will need to get a car. Things are spread far apart and I am not even sure how good public transport is. If you wanted to come to the city (SF), every now and then, that would be roughly $14.00 by Caltrain for a day pass.