Possible move to South Bay area, CA?

[B2B]

My husband is interviewing with Apple and Google right now and we are seriously considering making a move to the South Bay area. The thing is we've got a todller and a newborn. What's it like raising a young family in this area? We live in Vancouver, BC right now in a 2500 s.f. heritage home. We are lucky to be in an extremely walkable neighbourhood full of lovely, single family homes with easy access to downtown and all the amenities. Not sure if it will be possible for us to find or afford such a thing in Cupertino, Mountain View or surrounding areas. I dream of living in Half Moon Bay but the commute looks killer. Any advice, guidance or experience anyone might have would be GREATLY appreciated. Thank you!
Thanks for the answers! I am flexible on established neighbourhoods versus new, although I do love my current heritage home. I think the walkability factor is the most important for us. I don't want to have to strap two kids into a car just to buy milk or go to the park. Since we'll be going down to just one income I think we can really only afford $3,500/month at the most.

PostalP: I already live in one of the least affordable cities in the world. Only Sydney and Hong Kong are worse (see Demographia survey). Come to Vancouver and we'll shock you!