The city of Fremont, CA is often known for its many fun things to do at places like Mission Peak Regional Preserve, Coyote Hills Regional Park, and the Quarry Lakes Regional Recreation Area.
Named after explorer John C. Frémont, the community is home to the Bay Area Rapid Transit System, which handles the ferries and other transportation to nearby cities like San Francisco.
What is the cost of living in Fremont, CA? Is Fremont an affordable place to live? Learn everything you need to know about the costs to live in Fremont such as groceries, transportation, the real estate market, and healthcare.
Fremont Cost of Living Index
Understanding how much it costs to live in Fremont will be essential to deciding whether you are able to afford moving to the city. By using the Fremont cost of living index, you’ll see the difference between local prices when compared to neighboring states as well as the United States average.
When considering the cost of living in Fremont, a few of the major factors include your living expenses, where you reside, and the other things you choose to spend your money on. These costs will change based on your roommates, spouse, children, and other people who live in your home.
The cost of living index in Fremont is more than 127% higher than the national average and about 77% higher than the California state average. As an expensive place to live, most expenses in the area will cost more than other parts of the state or nation. Fremont’s living costs have increased by nearly 7% in the past year.
Among the biggest factors that make Fremont a more costly place to live is the housing market, which is about 386% more expensive than the national average. Other expenses that will have higher prices in the area are transportation (24% higher), healthcare (3.5% higher), and groceries (14% higher)
Consumer Expenditures in Fremont (by % of Household Income)
- Housing 36.6%
- Transportation 12.7%
- Food 13.2%
- Personal insurance 12.6%
- Healthcare 5.6%
- Entertainment 4.4%
- Other 14.9%
Cost of Groceries, Food, Gas, & Household Items in Fremont
There are plenty of expenses to think about if you’re considering moving to Fremont such as gasoline, food costs, and utility bills.
The average cost of groceries in Fremont is slightly higher than both the national and state norms. You’ll find some of the average food prices are $3.18 for a gallon of milk, $3.17 for a loaf of bread, $2.86 for a dozen eggs, and $7.10 for a 5-lb bag of potatoes.
If you’re ever in the mood for eating out, you’ll no doubt want to know what to expect from local restaurants. A typical McDonald’s ¼ pounder meal in Fremont will cost about $9.75.
You’ll also need to think about the average cost of an electric bill in Fremont, which is about $155.49 per month. Other utility factors like your average water bill will play a role in your monthly expenses as well.
When it comes to local transportation costs, the current price of gas in Fremont is about $3.45 per gallon.
Cost of Items in Fremont:
- Milk (regular 1 gallon) $3.18
- Eggs (1 Dozen) $2.86
- Potatoes (5 lb bag) $7.10
- Bread (1 loaf) $3.17
- Beer (Heineken’s 6 pack) $5.00
- Average Cell Phone Bill $190
- Average Cost of Gasoline (per gallon) $3.45
- Average Cost of Utilities (per month) $155.49
- McDonald’s Burger Meal (1/4 Pounder) $9.75
- Movie Ticket (1st run) $13.50
Fremont Real Estate Market
The real estate market in Fremont is one of the most competitive in the entire country with the majority of homes getting multiple offers when they go up for sale. There is a homeownership rate of 60.7% in the city with a slight majority purchasing their homes instead of leasing.
The median home price in Fremont is $1,350,000, which is a 17% increase year-over-year.
Local homes for sale in Fremont, CA only stay on the market for an average of 10 days. An average of 192 homes sold per month in the last year for a median sale price per square foot of $844.
Depending on where you purchase your home, the average commute time in Fremont is about 33 minutes.
Fremont Rental Market – Average Rents in Fremont
Around 39% of residents living in Fremont rent their houses and apartments, which is slightly less than half the local population. The average price of rent in Fremont is $2,831 per month, which is a minimal change in the past 12 months.
Renting may be a more affordable place to start for newcomers moving to Fremont who are unsure of whether to buy or lease. In comparison, Fremont rent is an average of $104 less per month than San Diego rental costs.
Average Salary & Household Income in Fremont
The Fremont living cost only matters if you are bringing in enough money each month to afford the typical expenses throughout the year. You’ll have to consider the amount your household makes each month to determine if living expenses in Fremont are within a reasonable range.
The average salary in Fremont is $95,000 per year with a trend in wages that has gone down by 0.4%. Most recent statistics show the current average hourly rate is $23.46 per hour.
A more important number to consider when determining what you can afford is the median household income in Fremont of $144,118 per year. This will give you a better idea of what is necessary per year to live a comfortable lifestyle when living in the area. Fremont incomes are higher than the typical income in San Diego median income, which is $85,507 per year as an example.
Many of the common jobs people have in Fremont are computer technicians, business managers, financial analysts, architects, teachers, and salespeople. A few of the largest employers in Fremont include:
- Westcon Comstor AU
- Men’s Wearhouse
- Lam Research
Income, Sales, & Property Taxes in Fremont, CA
State Income Tax
California income tax rates are between 1% and 13.3%, based on your level of income. The income taxes in Fremont follow the same standards that have been set by the state.
The state of California has the 8th highest sales tax rate in the United States, which varies by county. While the city of Fremont doesn’t require its own sales tax, residents still pay the Alameda County rate of 3% and the California state sales tax rate of 7.25%.
- California State tax rate 7.250%
- Alameda County tax rate 3.000%
- Fremont tax rate 0.000%
- Total 10.250%
The high cost of housing in the area can’t always be blamed on local Fremont property tax rates since they are lower than the national average. While property taxes in Fremont are about 0.05% higher than the California standard, they’re also about 0.29% lower than the US average.
- Fremont property tax rate 0.780%
- California property tax rate 0.730%
- National property tax rate 1.070%
For example, for a property purchased at the local median home price of $1,350,000, your Fremont property taxes will be around $10,530 per year.
Fremont vs. San Diego Cost of Living
Since Fremont already has similar living costs to San Francisco, many people compare the cost of living in Fremont to San Diego, which is about 475 miles away.
The cost of living is 61% higher in Fremont than in San Diego with most expenses being more in Fremont.
A major part of this difference is the housing market, which is 42.6% more expensive in Fremont. Healthcare costs are also about 24% higher in Fremont.
In general, you can expect the cost of living in Fremont vs San Diego to be much higher across the board.
Does the Cost of Living in Fremont Fit Your Budget?
While it is a beautiful community with a huge variety of activities and nearby amenities, the Fremont cost of living comes with a pretty significant price tag. You’ll find most expenses in this affluent city tend to be higher than in many other parts of the nation.
If you feel like this area is the perfect fit for you and your lifestyle, the only step left is to get help with the relocation. Get help from the best Fremont moving company here at AMS Relocation for the easiest transition you’ve ever experienced. Give us a call today at (650) 000-0000 or complete the Request a Quote form above for a free moving estimate!