Housing market/California/ZIP 94538
ZIP 94538 Fremont, California
Oakland-Fremont, CA HUD Metro FMR Area · California. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 94538 · CA — sent to you.
ZIP 94538 · CA
ACS rent vs 2BR SAFMR
ZIP 94538 — Fremont, CA HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 94538
- 1-unit detached10,24041.9%
- 1-unit attached2,76211.3%
- 2–4 units8713.6%
- 5–49 units4,29817.6%
- 50+ units5,84123.9%
- Mobile4171.7%
2–4 unit share 3.6% · 5–49 unit share 17.6% · combined 2–49 21.2%.
Units by bedrooms
Rent burden
- ACS median gross rent $2,860 (all bedrooms, occupied rentals).
- Median contract rent $2,692.
- Renters paying ≥30% of income 41.8%; ≥50% 18.0%.
- FY2027 2BR SAFMR $3,540 (1.238× ACS median gross rent).
Population
67,704 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: -0.6%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 14 projects, 1,510 units.
- HUD project-based assisted MF: 7 properties, 255 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 1,604 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 94538 55.2% of occupied households are renters; vacancy is 5.2%; ACS median gross rent is $2,860; population changed -0.6% between the 2018 and 2023 ACS vintages; the housing stock includes 871 units in 2–4-unit structures and 4,298 units in 5–49-unit structures; 14 LIHTC projects totaling 1,510 units; FY2027 2BR SAFMR is $3,540 versus ACS median gross rent of $2,860. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
California research
ZIP 94538 is a Census / HUD profile for Oakland-Fremont, CA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 94538 — Fremont, CA HUD Section 8 Payment Standards / SAFMR·California ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is California research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 94538?
ZIP 94538 (Oakland-Fremont, CA HUD Metro FMR Area) has 67,704 residents, 23,149 households, a renter share of 55.2%, median household income of $144,451, and ACS 2023 median gross rent of $2,860. Vacancy is 5.2%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 94538?
ACS counts 97 units in 2-unit buildings, 774 in 3–4 unit buildings, 994 in 5–9, 1,778 in 10–19, and 1,526 in 20–49. Combined 2–49 unit stock is 5,169 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 94538?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $3,540. See the full schedule and 90–110% payment-standard band on the ZIP 94538 — Fremont, CA HUD Section 8 Payment Standards / SAFMR.
Does this California ZIP profile include Georgia listings?
No. ZIP 94538 is Census / HUD research for Oakland-Fremont, CA HUD Metro FMR Area. Jeff Crowe CRE does not list California property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.