Tesla factory expansions are nice, but I personally think the main reason Fremont is rising is due to school ratings and affordability for single income family. More and more school ratings are increased due to influx of new families, it is becoming a snowball effect now. Most families are still working in Peninsula or South Bay. If you were to work in Peninsula and looking for good school with single income, I think Fremont is the only choice. Same apply to people who work in South bay, but they might have more options with some neighborhoods in San Jose. I follow the rise of school rating in Bay Area, and I think that’s where the money is.
You can still find decent houses in Ardenwood with good neighborhood and schools:
Works in a lot of people budget of < 1.2m for single income earner.
This one will be > 2m or even 2.5m in South Bay, but schools are almost comparable