Report: "Happy" Fremont has seen its homes double in value

Because of its proximity to Silicon Valley, home prices in Fremont have doubled in less than a decade, according to a new report by Point2.

Suddenly high-end, homes in Fremont went from $740,000 in late 2015 to $1.5 million as of February this year. And the reality is that overall desirability and high-paying jobs in the area will only continue to drive up demand and prices, according to the report.

But it's those high paying jobs that help make Fremont the happiest city in the country, according to WalletHub.

"Fremont is the happiest city in America, and one contributing factor is that the city has the highest share of households with an income above $75,000, at nearly 80%," reads the WalletHub report. "Studies have shown that increasing your income also increases your happiness up to $75,000 but not beyond. People in Fremont also have a high rate of life satisfaction, a low depression rate, and a long lifespan on average."

Fremont is among the trendsetters when it comes to home prices doubling. In the last 10 years the average home in the United States went from around $200,000 to $400,000, pushed by inflation, tight supply, and surging demand, according to the Point2 report. 

Ten years ago, demand had not yet intensified by a world-altering global pandemic, and the national home price hadn’t geared up for historical hikes. Generational housing issues weren't making headlines, and Millennials were just fresh-faced homebuyers anticipating a reasonably priced starter home. But, much like Millennials’ homeownership plans, a lot has changed since then.

Fluctuating mortgage rates, steep property prices, or supply deficits are no new challenges. But they have never unleashed such a rapid-fire onslaught on homebuyers in the country as they have in today’s housing market, according to Point2.