Yes, and the cost to rent an apartment is much higher than even New York... we are talking $2000 per month for a 600 sqft studio to be in a safe neighborhood. San Fran is the costliest place in the US to live.
This site has $50k salary in Peoria as $81k in San Fran so I was a little off, but if you look at the costs, it seems the $50k in Peoria is a much better quality of life.
When I was in SF, I thought that it would be a nice place to visit for a day or two. Good food. Pretty scenery all around - Sausalito and the Muir Woods and the PCH and Monterey, and, and, and.... I was younger, there was a thriving nightlife there.
I was out there for several months. After the first couple of weeks and I'd seen everything that I'd wanted to see, SF was just lousy. Dirty, got tired of being panhandled constantly, unsafe, just a generally unpleasant experience. If I'd not been on a (virtually) unlimited expense account, I'd have REALLY hated it, I'm sure.
And don't get me started on Oakland. :-)