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ZIP Code · CA

ZIP 94538

Part of Fremont, CA
Pop. 67,781·Alameda County·303rd most expensive ZIP in California
Median rent (all units)
$3,122/mo
Year-over-Year
+9.6%
Month-over-Month
+2.8%
vs US Median
+$1,157
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 94538 · $3,122
More expensive than 92% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$2,710
1 BR
$3,010
2 BR
$3,680
3 BR
$4,710
4 BR+
$5,580
Research median
$3,680/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$37,464/yr
At $3,122/mo median
Location
StateCA
CountyAlameda County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 9.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+9.6% YoY, +2.8% MoM), not inventory.
Demographics

Who lives here

ZIP 94538 (Fremont, CA) is majority renter-occupied, has a median income above the national average, 54.8% of residents hold a bachelor's degree or higher.

Population
67,781
Median income
$147,301
Median age
36.7
Renters
55.3%
Age distribution
21.3%
25.3%
30.8%
Under 1821.3%
18–3425.3%
35–5430.8%
55–6410.9%
65+11.7%
Gender
50.6%
49.4%
Male50.6%
Female49.4%
Race & ethnicity
16.5%
18.9%
58.2%
White16.5%
Black3.7%
Hispanic18.9%
Asian58.2%
Other2.8%
Education (25+)
16.8%
17.6%
54.8%
No HS diploma10.7%
HS diploma16.8%
Some college17.6%
Bachelor's+54.8%
Housing tenure
44.7%
55.3%
Owner44.7%
Renter55.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 94538 in Fremont, CA has changed in 5 years

Rent
$2,476 → $3,122
up 26.1%
Income
$130,947 → $147,301
up 12.5%
Population
66,474 → 67,781
up 2.0%
Renter share
53.2% → 55.3%
+2.1 pts
Bachelor's+
52.7% → 54.8%
+2.1 pts
Median age
36.2 → 36.7
+0.5 yrs

Five years ago, renters in ZIP 94538 in Fremont, CA paid around $2,476 a month. That figure now sits near $3,122, up 26.1% from the 2021 baseline. On the earnings side, the typical household in ZIP 94538 in Fremont, CA now reports about $147,301, up from $130,947 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 94538 in Fremont, CA adding about 1,307 residents over the five-year window, up 2.0% on net. The renter share has risen from 53.2% to 55.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 52.7% to 54.8% across the same window. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 94538 in Fremont, CA reflects that arc in its own way.

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Local insights

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About renting in ZIP 94538

Last updated: July 20, 2026

ZIP code 94538 covers Fremont, CA. The median rent here is $3,122/mo as of July 2026. A 1-bedroom rents for a median of $3,010/mo. A 2-bedroom rents for a median of $3,680/mo.

At 25% of local median household income ($147,301/yr), ZIP 94538 ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 94538?

As of July 20, 2026, the median monthly rent in ZIP 94538 (Fremont, CA) is $3,122. This is based on aggregated data from public sources and community submissions.

How does ZIP 94538 rent compare to the US average?

ZIP 94538's median rent of $3,122/mo is $1,157 (59%) above the US national median of $1,965/mo.

How does ZIP 94538 compare to other ZIPs in California?

ZIP 94538 is one of the pricier ZIP codes in California, ranking #303 out of 907 ZIPs tracked at $3,122/mo.

How much income do you need to rent in ZIP 94538?

To keep rent at or below 30% of gross income, you would need to earn at least $125,000/year (~$60/hour full-time) to afford the median rent of $3,122/mo in ZIP 94538. The local median household income is $147,301/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 94538?

Rent in ZIP 94538 has increased 9.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 94538 an affordable place to rent?

ZIP 94538 is considered affordable for renters. At $3,122/mo, rent takes approximately 25% of the local median household income ($147,301/yr). The standard benchmark is 30%. ZIP 94538 falls comfortably within that range.

What percentage of ZIP 94538 residents rent vs. own?

According to Census data, approximately 55.3% of ZIP 94538 households are renters, while 44.7% are owner-occupied. With a majority renter population, ZIP 94538 has a strong rental market.

How does ZIP 94538 compare to the rest of Fremont?

ZIP 94538 is more affordable than Fremont overall. At $3,122/mo, it's $186 below the Fremont citywide median of $3,308/mo.

When was rent data for ZIP 94538 last updated?

Rent data for ZIP 94538 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $3,122/mo, rent takes ~25% of ZIP 94538's median household income ($147,301/yr). The standard benchmark is 30%.

ZIP 94538 25%Benchmark 30%
State income tax1–13.3%
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Schools nearby

Public schools near ZIP 94538 (Fremont, CA)

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