Since you have telecommunity flexibility use it. As for rental ideas it really depends on your 'actual' needs. What are your essential needs? Examples include:
- Reliable public transportation? Focus on the Penninsula, SF to Sunnyvale.
- Living space? Focus on renting a single family home in the South Bay like SJ, Milipitas, and Fremont.
- School district? Are you already trying to start a family? Even so, no need to buy a home. Check the local API reports for cities that meet your needs and cross reference it against 'comps' in your desired cities.
- Career opportunities? Do you intend to remain with your current employer? If not consider a lateral move to an employer in a larger city with better benefits and more flexibility.
- Community/entertainment? How important is walkability to resources to you? Do you care about parks, oceans, other cultural activities? The larger cities like SF and SJ have the most.
- Conveniences? How far are you willing to drive to buy groceries? Do you prefer to walk or bike to get things? Or are you ok with driving 20 minutes each way just to do one errand? Suburbs often requires more driving compared to living in SF or a city like Mountain View.
Sacramento is developing however, the API scores are not great and employers are not as high compared to other cities along the Peninsula. Also single family homes in Sacramento do not appreciate in value as quickly compared to those located along the Peninsula or up North. That said, you do not need to move to Sacramento or places like Tracey or Modesto, just to find reasonable housing that meets your needs. If you are open to it, expand your housing search to include the East Bay and not limit yourself to the Peninsula which remains much higher in demand.
OP given the facts you've shared, I strongly suggest you consider renting for now. The Bay Area real estate market remains hotter than nationally but inventory remains low. With this in mind, if you can wait to buy for the correction, wait and keep on saving. If you absolutely are set to buy reconsider a single family home and opt for a condo in an area that meets more of your needs. Feel free to PM with more questions.