ZIP 95035
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 95035 usually run 1% below trend in December and 1.2% above it in August, about $80 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 95035 is at its highest level since Zillow's records here began in June 2016.
Rent in ZIP 95035 changed +10.0% over the year to September 2026. Across the 819 California ZIP codes Zillow tracks, the typical change was +3.2%.
From 2019 to 2024, rent in ZIP 95035 rose 14.6% while median household income rose 35.1% ($132,236 to $178,654). Income kept ahead of rent.
Rent in ZIP 95035 is 28% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 14 months in a row, and rose in 12 of the last 12 months.
30% of the median household income ($178,654) is $4,466 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($3,790); a 3-bedroom is $5,010.
ZIP 95116, 7 miles away, rents for 19% less ($2,929/mo), about $8,200 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 95035. 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.
Who lives here
ZIP 95035 (Milpitas, CA) is majority owner-occupied, has a median income above the national average, 58.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 95035 in Milpitas, CA has changed in 5 years
Rent in ZIP 95035 in Milpitas, CA has climbed 32.6% since 2021, going from about $2,726 per month to roughly $3,614 today. Household income in the area moved from $149,223 to $178,654 across the same window, up 19.7% versus 2021. Rent outpaced income growth by roughly 12.9 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 79,769 to 78,810 between 2021 and 2024, a 1.2% change. About 41.5% of households rent today, against 36.9% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 53.5% to 58.2%. Reading these numbers side by side helps frame whether current listings in ZIP 95035 in Milpitas, CA look reasonable against where the market sat half a decade ago.
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Tips for renters in ZIP 95035
Last updated: October 17, 2026
ZIP code 95035 covers Milpitas, CA. The median rent here is $3,614/mo as of October 2026. A 1-bedroom rents for a median of $3,240/mo. A 2-bedroom rents for a median of $3,790/mo.
At 24% of local median household income ($178,654/yr), ZIP 95035 ranks as affordable compared to the national benchmark of 30%. Rents have increased 10.1% over the past year.
Frequently asked questions
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How does ZIP 95035 compare to the rest of Milpitas?
At $3,614/mo, rent takes ~24% of ZIP 95035's median household income ($178,654/yr). The standard benchmark is 30%.
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