Both, plus c) it's not perceived as being as cool as living in a trendier place and d) it's under-marketed relative to the bigger cities. Note also that Raleigh/Durham has a smallish tech hub and housing is cheap there too. Oh, and also e) the perception that nothing is interesting unless it happens in NYC or SF (or other mega-city).
If you're willing to live outside a tech hub (which has other advantages), you'll find that in most places in the US programmers make high salaries relative to the cost of living, but the focus tends to be on the few places that this is not true. Outside the top markets, $70k + bonus is more than enough to be comfortably middle class (and own a home and car if desired).
If you're willing to live outside a tech hub (which has other advantages), you'll find that in most places in the US programmers make high salaries relative to the cost of living, but the focus tends to be on the few places that this is not true. Outside the top markets, $70k + bonus is more than enough to be comfortably middle class (and own a home and car if desired).