Let KAYAK do the searching
Based on KAYAK hotel searches, the most popular destination is San Jose (58% of total searches to Silicon Valley). The next most popular destinations are Santa Clara (15%) and Palo Alto (14%). Searches for hotels in Burlingame (12%) are also popular.
KAYAK users have found double rooms in Silicon Valley for as cheap as $140 (Palo Alto) in the last 3 days. The average price is $585.