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Fremont , CA

Monthly Housing Development Update | July 2020

General statistics, market trends and outlook for housing development in Fremont, CA

City Housing Update for July 2020

Current Trends:

During this past month of June, the median rental price for a single family home in Fremont was $3,366 and median sale price for a single family home in the city was $1,137,800. There were approximately 416 homes listed for sale in the city at the end of June, compared with 357 in May. During the last month, homes sold within 8 days on the market and received 1 offers per sale on average.

City Housing Supply:

As of the end of 2017, the total count of existing housing units in the city was 76,279. Single family housing units make up the vast majority 71.48% of Fremont's housing units, 54,521 units total. Multifamily units make up 27 percent, or approximately 21,032. As of last year, the average housing density (people per household) was 3.11, compared with the state average of 2.97. At the end of the period, about 1,136 of housing units in the city were unoccupied.

Regulations & Outlook:

The City has not yet finalized updates to it's residential zoning code that fully comply with State Laws SB 1069 and AB 2299 which allow for Accessory Dwelling Units (ADUs) to be developed on most single family lots. More commonly referred to as “Granny Flats” and “In-Law Units”, in Fremont as many as 32,167 homes may now be eligible to add some form of second dwelling unit. These laws are intended by The State to boost opportunities for housing production in cities in an effort to address the growing housing deficits local communities face accross The State. Typically secondary units are constructed by homeowners in backyards, converted garages and basements of single family residences. These new regulations could now allow individual homeowners to play a significant role to increase housing production in Fremont over the coming years. Consider for example, if just one percent of eligible homeowners in Fremont built an ADU each year, it would contribute an additional 1,608 units to the city's housing stock over the next five years and create thousands of new local construction jobs.

Local News & Policy:

At this time, statewide standards will superseed any local residential zoning requirements for ADUs that are non-compliant with the state's minimum set of requirements. The current development standards for ADUs in Fremont, or any other CA city, can be found at the city zoning page link and search below. Recently More information on the latest local policies and requirements for ADUs will be available as they are passed. Check back each month for the latest changes in Fremont.

Get Involved:

For homeowners and local developers who are interested in getting involved in the ADU movement locally in Fremont, use Housable to get insights about the ADU housing development potential of specific properties. Housable provides zoning, permitting, estimation and design tools, many of them free of charge, to help homeowners at any step plan, permit and build their ADU projects. Use property design and calculation tools any time, get low cost insights about the ADU potetnial of your property and connect with local professionals who can help with the process when you're ready to get started. Stay up to date with the latest local trends in housing production and join the ADU movement to create more housing in Fremont, one garage, basement, or backyard at a time.

Exerpts From City Housing Reports

From 2010 through 2013, the City has acquired affordable housing units through various residential projects. In 2012/2013, the City added seven condominium units to its low- income category through Persimmon Park. In 2013, two affordable condominium units were acquired through the Durham Road Affordable Housing Plan. The City further added two condominium units to its very low income category through the Durham Road Affordable Housing Plan. The City has also invested housing in-lieu fees towards the development of affordable housing.

3.2 Summary As described above, the City has completed many actions to meet its housing goals and needs over the review period. While the City completed many programs and actions laid out in its previous Housing Element, due to the downturn in the economy, residential housing production decreased during the previous Housing Element cycle. As shown in Table 3-1, The City produce on average approximately 300 units per year between 2007 and 2010. Since 2010, the average has increased to reflect a rebounding economy. With less residential production in general, the production of affordable housing also diminished. About 55 percent of the units assigned to Fremont were constructed, but less than 20 percent of the total allocation of affordable units were constructed.

Housing to restructure their debt and obtain new tax credit financing to allow for a major rehabilitation of the Century Village Apartments. By agreeing to extend the loan term for about $4 million in previously-provided funding, the City helped facilitate significant investment into this aging complex. Mid-Peninsula Housing agreed to make the entire complex affordable, a net increase of 24 affordable units over the previously- required 75 affordable units. Rehabilitation was completed in 2013. 4.01-D: Mobile Home Preservation and Rent Stabilization

However, the incidence of overpayment is the highest for those of limited income. Lower income households typically 'overpay' for housing more frequently than moderate and above moderate income households. During the 1990s and 2000s, the price of housing in the Bay Area increased at a much faster rate than residents' incomes, so that the percentage of those overpaying households increased. In 2010, more than 35 percent of all households in Fremont were paying 30 percent or more of their annual household incomes on rent or mortgages and related housing expenses. Of this percentage, just over 11 percent were low and very low- income households. Considering that low-income households comprise 23 percent of total households in Fremont, this means half of low-income households are overpaying for housing.

1,714 very low-income units 926 low-income units 978 moderate-income units 1,837 above moderate-income units

Current Market Stats July 2020

Median Sales Price $1,137,800.00

Median Rental Price $3,366.00 Based on 840 sqft unit

Total Homes on Market 416

Average Days on Market 8

Average Offers per Sale 1

City Housing Stock 2017

Total Housing Units 76279

Single-Family Units 54521

Other Type Units 726

Unit Vacancy Rate 0.0149

Annual Units Produced (2017) 516

Go to Fremont ADU Zoning Page

ADU Services

A recent customer review:

"Thank you so much for getting all the plans to me by last Monday. This process is very new to me. Joanna was really helpful in a last minute request the city had! "

Cassie in San Jose, CA

Customer since January, 2020

Learn about ADU Services

City & State Housing News

State of CA ADUs Done Right « Council of Community Housing Organizations www.sfchronicle.com 03/12/2016

Go to Fremont ADU Zoning Page

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