94538 — Fremont, CA Home Values
Typical home value $1,307,411 as of June 2026 · 76th of 166 in San Francisco-Oakland-Berkeley, CA
Blue: typical home value (Zillow ZHVI) in ZIP code 94538, June 2021 to June 2026. This page shows observed data only; no forecast.
How 94538 compares in the San Francisco-Oakland-Berkeley, CA area
ZIP code 94538 (Fremont, CA) has a typical home value of $1,307,411 as of June 2026, ranking 76th of 166 ZIP codes tracked in the San Francisco-Oakland-Berkeley, CA area, more expensive than about 55% of ZIP codes in the metro. Prices here have moved -3.8% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +18.1%, from $1,106,992 in June 2021 to $1,307,411 in June 2026. Against observed rent, the typical home here sells for 34.9× the annual rent ($3,122/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the San Francisco-Oakland-Berkeley, CA forecast for a modeled outlook, or browse the full ranked list of ZIP codes in San Francisco.
Population and demographics
ZIP code 94538 has a population of 67,704, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 54.4% Asian, 18.6% Hispanic or Latino, 17.7% White, 3.8% Black or African American, 3.5% two or more races, 0.8% Native Hawaiian or Pacific Islander, 0.7% another race, and 0.6% American Indian or Alaska Native.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Lila Bringhurst Elementary | 45051 Wisdom Rd., Fremont, CA | 0.6 mi |
| Harvey Green Elementary | 42875 Gatewood St., Fremont, CA | 1.3 mi |
| E. M. Grimmer Elementary | 43030 Newport Dr., Fremont, CA | 1.3 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 94538?
$1,307,411 as of June 2026, the latest month Zillow has published observed data for.
Is 94538 an expensive ZIP code in the San Francisco-Oakland-Berkeley, CA area?
94538 ranks 76th of 166 ZIP codes in the San Francisco-Oakland-Berkeley, CA area by typical home value, more expensive than about 55% of ZIP codes in the metro.
How much have home values in 94538 changed over the past year?
-3.8% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 94538?
The typical home price is 34.9× the observed annual rent in this ZIP code ($3,122/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 94538?
67,704, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 94538?
Lila Bringhurst Elementary (0.6 mi), Harvey Green Elementary (1.3 mi), E. M. Grimmer Elementary (1.3 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 94538?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the San Francisco-Oakland-Berkeley, CA forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.