Let KAYAK do the searching
Based on KAYAK hotel searches, the most popular destination is San Jose (38% of total searches to Silicon Valley). The next most popular destinations are Burlingame (38%) and Mountain View (12%). Searches for hotels in Palo Alto (12%) are also popular.
KAYAK users have found double rooms in Silicon Valley for as cheap as $82 (San Jose) in the last 3 days. The average price is $256.