You didn’t specify from where you are moving to San Jose. It is one of the most expensive place to live. Personally I think it is way too less. If you are willing to compromise on education and quality of living probably it may be Ok.
Hi Looks like you have not been in US before. Check this site for your take home salary. www.paycheckcity.com. Secondly check the site www.rent.com for the homes near your office. Since you have two kids, you must take 2 bed 2 bath apartment. Its a law here. Coming to school only multi-millionaires send the kids to private schools :). Public schools are way far ahead and than any best paid school in India. You will have to just find the schools for your locality. Look into www.greatschools.com for the school ratings. Each apartment will have specific schools based on your kids grade. When you call the apartment you can ask for which schools they belong to then check their rating in the website I have specified.