The Rent Hacker Subscribe free →

East Bay guide · Tier A · Rank #27 of 87

House hacking in San Ramon (Bishop Ranch / CityWalk).

CityWalk, the Bishop Ranch office-to-housing conversion: about $5B and up to 4,500 units on the original plan, with ~367 delivered, ~1,055 under construction, and ~4,547 approved, next to about 30,000 in-ZIP Bishop Ranch jobs.

Status check: The 2026-07-15 refresh: CityWalk's scope expanded materially, from the original ~4,500-unit, ~$5B plan to a stated ~8,400-home target across Bishop Ranch, with 367 units complete, 1,055 under construction, and 4,547 more approved as of early 2026. Held at A: a strong single catalyst without a transit leg.

What's actually happening in 94583

  • Under construction / approved

    CityWalk / Bishop Ranch office-to-housing conversion: about $5B, up to 4,500 units on the original plan; ~367 delivered, ~1,055 under construction, ~4,547 approved. City of San Ramon

  • Existing anchor

    Bishop Ranch employment: about 30,000 jobs in-ZIP. City of San Ramon

  • Funded

    Eden Housing (200 affordable units) funded, start late 2026. City of San Ramon

  • Certified

    First certified Housing Element in Contra Costa / Tri-Valley. City of San Ramon

The numbers

Median price
Metro mid-band (no city median printed this run)
Market rent
2bd $2,800 / 3bd $3,300 whole-home (underwriting band)
Property tax (Contra Costa County)
~1.25% effective (San Ramon; adjacent Dougherty Valley Mello-Roos zones run higher)
Per-bed rent band
$1,050–1,400/mo per bed
ADU rent band
$2,100–2,700/mo
Whole-home rent band
2bd $2,800 / 3bd $3,300 whole-home
Underwriting vacancy
5% underwriting vacancy
Appreciation scenarios
1.0 / 2.5 / 4.0 %/yr (conservative / base / upside)

No rail: express buses and the Iron Horse Trail. Appreciation basis: CityWalk conversion arc; newer stock; Dougherty Mello-Roos next door. 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

House-hack to Bishop Ranch's internal live-work demand and watch the office-to-housing arc; newer stock keeps capex low.

What breaks it

  • No rail transit: express buses only
  • 94583 abuts Dougherty Valley, where Mello-Roos pushes rates past 1.50%: verify the TRA per parcel
  • The conversion arc is multi-year (first CityWalk residents 2027): credit only under-construction phases