ZIP Code · CA

ZIP 94704

Part of Berkeley, CA

Pop. 23,788·Alameda County·365th most expensive ZIP in California

Median rent (all units)

$2,946/mo

Year-over-Year

+2.9%

Month-over-Month

Stable

vs US Median

+$1,014

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 94704 · $2,946

More expensive than 90% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,960

1 BR

$2,180

2 BR

$2,660

3 BR

$3,400

4 BR+

$4,030

Research median

$2,660/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

October. Asking rents in ZIP 94704 usually run 2.7% below trend in October and 1.9% above it in April, about $136 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 94704 is at its highest level since Zillow's records here began in November 2019.

Past year vs. the rest of California

Rent in ZIP 94704 changed +2.9% over the year to September 2026. Across the 819 California ZIP codes Zillow tracks, the typical change was +3.2%.

Since before the pandemic

Rent in ZIP 94704 is 18.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 6 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($50,129) is $1,253 a month. That is less than HUD's Fair Market Rent for a studio ($1,960).

Rank in Berkeley

5th cheapest of 7 ZIP codes in Berkeley.

Cheaper nearby

ZIP 94703, 1 mile away, rents for 14% less ($2,544/mo), about $4,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 94704. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$35,352/yr

At $2,946/mo median

Location

CityBerkeley

StateCA

CountyAlameda County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.9% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 94704 (Berkeley, CA) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 72.4% of residents hold a bachelor's degree or higher.

Population

23,788

Median income

$50,129

Median age

21.9

Renters

87.6%

Age distribution

76.7%

Under 184.3%

18–3476.7%

35–5410%

55–643.7%

65+5.4%

Gender

45.7%

54.3%

Male45.7%

Female54.3%

Race & ethnicity

38.6%

16.1%

34.5%

White38.6%

Black5.4%

Hispanic16.1%

Asian34.5%

Other5.5%

Education (25+)

19.2%

72.4%

No HS diploma3.5%

HS diploma4.9%

Some college19.2%

Bachelor's+72.4%

Housing tenure

12.4%

87.6%

Owner12.4%

Renter87.6%

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

2021 vs 2026

How ZIP 94704 in Berkeley, CA has changed in 5 years

Rent

$2,433 → $2,946

up 21.1%

Income

$46,913 → $50,129

up 6.9%

Population

25,124 → 23,788

down 5.3%

Renter share

90.4% → 87.6%

-2.8 pts

Bachelor's+

71.6% → 72.4%

+0.8 pts

Rent in ZIP 94704 in Berkeley, CA has increased 21.1% since 2021, going from about $2,433 per month to roughly $2,946 today. Median household income grew from $46,913 to $50,129 between 2021 and 2024, a 6.9% shift. Rent outpaced income growth by roughly 14.2 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 25,124 to 23,788 between 2021 and 2024, a 5.3% change. About 87.6% of households rent today, against 90.4% in 2021. Taken together, the five-year picture in ZIP 94704 in Berkeley, CA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 94704

Last updated: October 17, 2026

ZIP code 94704 covers Berkeley, CA. The median rent here is $2,946/mo as of October 2026. A 1-bedroom rents for a median of $2,180/mo. A 2-bedroom rents for a median of $2,660/mo.

At 71% of local median household income ($50,129/yr), ZIP 94704 ranks as expensive compared to the national benchmark of 30%. Rents have increased 2.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 94704?

To keep rent at or below 30% of gross income, you would need to earn at least $118,000/year (about $57/hour full-time) to afford the median rent of $2,946/mo in ZIP 94704. The local median household income is $50,129/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 94704?

Rent in ZIP 94704 has risen 2.9% over the past year as of September 2026. That is the highest level since Zillow's records here began in November 2019.

When is the cheapest time to rent in ZIP 94704?

Asking rents in ZIP 94704 are usually lowest in October, about 2.7% below their yearly trend, and highest in April, about 1.9% above it. At today's median that is a gap of roughly $136 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 94704 compare to other ZIPs in California?

ZIP 94704 is in the middle among California ZIP codes for rent, ranking #365 of 898 at $2,946/mo. Over the year to September 2026, rent in ZIP 94704 changed +2.9%, against a typical +3.2% across the 819 California ZIP codes Zillow tracks.