I know what a Google (engineering) salary is, and even if you're paying half of a tech salary to rent, the other half is still a hell of a lot to have leftover for your average American.
To rephrase this: For the most junior (engineering) employees, a starting salary allows you to spend under the recommended maximum of 25-30% of your salary on rent to live in a decent 1BR apartment minutes from your office. You then receive significant bonus and stock on top of this. It's...not a problem.
L3 salary is $140k (from levels.fy). 30% of $140k allows for rent of $3.5k/m which is not actually all that generous. You're lucky to get a studio for that these days in Manhattan.