ZIP Code 94538 — Fremont, CA Home Prices (2026)
The typical home in ZIP 94538 (Fremont, California) is worth about $1,283,000 at roughly $732 per square foot — 10% more affordable than the Fremont median and 336% more expensive than the typical U.S. home.
How 94538 compares
ZIP 94538 is one of the more affordable ZIP codes in Fremont: its typical home value of $1,283,000 ranks #4 of the 4 Fremont ZIP codes we track (the citywide range runs from $1,283,000 in 94538 to $2,186,000 in 94539). Per square foot it costs about $732, against $810 for Fremont as a whole, $455 for California, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 94538 | $1,283,000 | $732 |
| Fremont, CA | $1,433,000 | $810 |
| California | $698,000 | $455 |
| United States | $294,000 | $195 |
Home value by size in 94538
Using this ZIP’s rate of about $732 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $732,000 |
| 1,500 sq ft | $1,098,000 |
| 2,000 sq ft | $1,464,000 |
| 2,500 sq ft | $1,830,000 |
| 3,000 sq ft | $2,196,000 |
Salary needed to buy a home in ZIP 94538
To buy the typical $1,283,000 home in ZIP 94538 with 20% down, you need a household income of roughly $349,000 a year (about $8,140 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $415,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $64,200 | $10,120/mo | $434,000/yr |
| 10% (+PMI) | $128,300 | $9,680/mo | $415,000/yr |
| 20% | $256,600 | $8,140/mo | $349,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 94538
At about $732 per square foot, here is roughly how much home different budgets get you in ZIP 94538:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $600k | 820 sq ft | below the local median — condos, smaller or older homes |
| $750k | 1020 sq ft | below the local median — condos, smaller or older homes |
| $1.00M | 1370 sq ft | below the local median — condos, smaller or older homes |
| $1.50M | 2050 sq ft | around the typical home here |
| $2.00M | 2730 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 94538 home.
Estimate a specific home in 94538
The estimator below is pre-set to ZIP 94538 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Fremont ZIP codes by home value
Where 94538 sits among Fremont’s 4 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 94539 | $2,186,000 | $832 |
| 2 | 94555 | $1,466,000 | $960 |
| 3 | 94536 | $1,400,000 | $787 |
| 4 | 94538 (this page) | $1,283,000 | $732 |
ZIP 94538 home prices: frequently asked
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See the full Fremont home values page, all California cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.