South Bay guide · Tier S · Rank #2 of 60
House hacking in San José (Berryessa / McKee / North Valley).
Owns the county's only operational BART terminus and its single largest entitled urban village: engineered growth that is already delivering rather than speculative.
Status check: Verified 2026-07-17: the city reached a tentative agreement to build thousands of homes at the Flea Market site, a commercial financing district was set up to fund ~$100M of infrastructure, and crews began clearing the site (700 homes, 280 of them affordable, in the first tranche). Progressing, if anything ahead of the doc; no change.
What's actually happening in 95133
- Operational
BART Phase I: the Berryessa/North San José terminus sits physically in-ZIP at 925 Berryessa Station Way, the county's first operational BART station, running since June 2020 with ~25,000 riders/day projected by 2030. VTA BART Phase I, Berryessa
- Adopted
Berryessa BART Urban Village: 270 acres, Council-approved 6/22/2021; capacity of 5,000–6,500 homes (25% affordable) plus 4.2M sf commercial and ~16,500 jobs, entirely within 95133. The single largest ZIP-specific density catalyst in the cached set; the city page was summarized via search, so the home count carries mild source-to-source variance (treat as order-of-magnitude). City of San José
- Approved, phased
San José Flea Market Southside Rezoning: ~3,400 units plus ~3M sf office/retail, the largest single parcel in the village; approved June 2021, phased. City of San José
- Approved
1655 Berryessa Rd (13 acres): up to 850 homes plus ~455,000 sf commercial; Council-approved. City of San José
- Entitled, pre-construction
VTA Transit Center TOD (Affirmed Housing, 3.3 acres): Phase 1 is 100% affordable, SB-35 entitled 2023, pre-construction 2026, with 600+ homes at full build. BART Phase II later extends south from this terminus, adding one-seat Downtown/Diridon access by 2035–37. VTA
The numbers
- Median price
- ~$1,198,000 (2026)
- Market rent
- 3bd ~$4,000/mo (metro by-bed read, confirm per parcel)
- Property tax (Santa Clara County)
- 1.50% median effective (per-ZIP read, 2026-07-10; verify the TRA per parcel)
- Per-bed rent band
- $1,150–1,500/mo per bed
- ADU rent band
- 1bd $2,200–2,600, 2bd detached $2,600–3,000/mo
- Whole-home rent band
- $3,900–4,200/mo whole-home (3bd)
- Underwriting vacancy
- 4% underwriting vacancy
- Appreciation scenarios
- 3.0 / 4.5 / 6.5 %/yr (conservative / base / upside)
Mid-range entry for the in-scope set, with the same tight metro rent dynamics. Appreciation basis: Operational BART de-risks the floor; the 270-acre UV and Flea Market buildout carry the base; Phase II adds the Downtown one-seat. 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
Buy an SFH-plus-unit (SB-9 or ADU; SB-35 already entitled the VTA parcel) in the walkshed of an operational BART terminus with a 270-acre urban village maturing around it. Tenants: East Bay and SF BART commuters plus North SJ tech workers. Hillside overlay only touches the eastern foothill fringe.
What breaks it
- Berryessa UV buildout is phased over 10–20 years: near-term supply is incremental
- The Flea Market redevelopment displaces a beloved institution; community and entitlement friction is possible
- McKee-corridor parcels vary in desirability block to block