Peninsula guide · Tier S · Rank #4 of 28
House hacking in Daly City (Westlake / Serramonte / Broadmoor).
The most aggressively upzoned city in the slice: a two-BART bedroom market where a Nov 2024 emergency ordinance and a 1,235-unit approved megaproject reset feasibility, at ~$1.2M.
Status check: Verified 2026-07-16: Serramonte Del Rey moved from entitled to active construction, with 122 units of faculty and staff housing under way on Parcel A and the Parcel B design approved. The emergency rezoning and the Serramonte Center expansion track exactly as documented, and Seton's rezoned parcels now have an interested developer (AHMC, 500+ homes). Kept at S.
What's actually happening in 94015
- Approved Feb 2024
Serramonte Del Rey Campus Redevelopment: ~22-acre former Jefferson Union HSD campus; ~1,235 rental units (20% affordable), up to 14 stories, retail plus childcare; Council approved Feb 26, 2024, on a ~10-year buildout (Eden Housing and The Core Companies). City of Daly City
- Adopted
Citywide emergency rezoning ordinance (adopted Nov 12, 2024): multi-family heights from 36 to 120 ft (C-MU up to 175 ft / 15 stories), density doubled with no cap in max-density zones, parking minimums and FAR eliminated, SFR minimum lot 2,500 sq ft. Unusually aggressive; it materially improves ADU, in-law, and small-multi feasibility. City of Daly City
- Operational
Two BART stations serve the ZIP: Daly City BART (a major intermodal) and Colma BART, one stop and about 10 minutes to Balboa Park and the SF core. City of Daly City
- In progress
Seton Medical Center area rezoning (~12 acres, 60 to 120 du/ac, 500+ homes), the Serramonte Center expansion (up to 328,600 sq ft retail), and Daly City BART Access / Pacific Plaza (3,000+ future jobs). City of Daly City
The numbers
- Median price
- ~$1.2M (Redfin, Jan 2026, +6.7% YoY, the fastest-appreciating in-scope ZIP)
- Market rent
- all-bed ~$2,337/mo (Zumper)
- Property tax (San Mateo County)
- 1.26% combined effective average (range 1.08–1.52% by tax-rate area; purchase resets the assessed basis to sale price)
- Per-bed rent band
- $1,050–1,450/mo per bed
- ADU rent band
- $2,300–2,900/mo
- Whole-home rent band
- $3,600–4,400/mo whole-home
- Underwriting vacancy
- 4–5% underwriting vacancy
- Appreciation scenarios
- 3.5 / 5.0 / 6.5 %/yr (conservative / base / upside)
RHNA 2023-2031 is 4,838 units; AB 1482 only. Appreciation basis: The emergency rezoning plus Serramonte Del Rey; fastest recent YoY at +6.7%. Rent bands are city-level medians; confirm the specific parcel before trusting any of them. Run your own scenario in the calculator.
The house-hack angle
SFR plus a legalized in-law: Daly City's ubiquitous in-law stock is now conforming under the emergency rezoning and SB 9. Small multi where the doubled density pencils. Broadmoor is a distinct enclave with its own police district.
What breaks it
- Western Westlake near Mussel Rock carries landslide and bluff hazard
- Serramonte Del Rey is early in a ~10-year buildout
- Seton Medical Center is financially stressed, a jobs-leg risk