Gilbert, AZ—85295
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gilbert, AZ
As of Oct '25, the median home price in Gilbert, AZ is $545,000, with a year-over-year change of -3.0%. This indicates that home prices in Gilbert, AZ are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $545,000 | -3.0% |
| Single Family | $550,000 | -3.0% |
| Condos | $410,000 | -3.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $387,000 | -3.7% |
3 Bed | $467,000 | -3.9% |
4 Bed | $589,000 | -2.6% |
| 5 Bed | $792,000 | -0.9% |
% of Housing Stock
Rental Trends — Gilbert, AZ
As of July '25, Rentcast reports the average rent in Gilbert, AZ is $2,490, with a year-over-year rent change of 7.8%. Per bedroom, the median rent as of July '25 in Gilbert, AZ is studios: $1,420, 1-bedrooms: $1,360, 2-bedrooms: $2,140, 3-bedrooms: $2,540, 4-bedrooms: $2,840. The most common rental property sizes in Gilbert, AZ are 2-bedroom and 1-bedroom, accounting for 27.4% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,490 |
| Studio Rent | $1,400 | $1,420 |
| 1 Bed Rent | $1,400 | $1,360 |
| 2 Bed Rent | $2,200 | $2,140 |
| 3 Bed Rent | $2,300 | $2,540 |
| 4 Bed Rent | $2,700 | $2,840 |
% of Rental Stock
Property Listings — Gilbert, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Gilbert, AZ is 59. This is a increase of 14.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 43.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $555,000 | -7.0% |
Listing Count | 183 | 29.0% |
| Listings as % of Homes | 0.9% | 29.0% |
Days on Market | 59 | 14.0% |
Demographics — Gilbert, AZ
As of the latest ACS Survey released in 2023, Gilbert, AZ has a population of 54,700, which has increased by 19.5% over the past 5 years. Gilbert, AZ is a popular place for families, as children make up 30.2% of the population. The area has a highly educated workforce, with 49.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,700 | 19.5% |
% Under 18 | 30.2% | -7.1% |
% Seniors | 6.3% | -8.7% |
% WFH | 22.9% | 247.0% |
% w/ College Degree | 49.4% | 8.8% |
As of the latest ACS Survey released in 2023, Gilbert, AZ is a predominantly white area, with 64.2% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Gilbert, AZ is hispanic, making up 19.8% of the population. Foreign-born residents account for 7.9% of the population in Gilbert, AZ, and this percentage has decreased by 13.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 64.2% | -5.4% |
% Black | 3.6% | -20.0% |
% Hispanic | 19.8% | 20.7% |
% Asian | 5.7% | 0.0% |
% Foreign Born | 7.9% | -13.2% |
Mortgage and Risk — Gilbert, AZ
According to HUD data as of 2023, there were 1016 mortgage originations in Gilbert, AZ, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Gilbert, AZ. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,016 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Gilbert, AZ
As of 2024, the percent of homes in Gilbert, AZ under the Section 8 program is 0.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Gilbert, AZ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $730 | $1,400 | $2,130 |
| 2 Bedroom | $280 | $2,200 | $2,480 |
| 3 Bedroom | $1,040 | $2,300 | $3,340 |
| 4 Bedroom | $1,030 | $2,700 | $3,730 |
Affordability — Gilbert, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $545,000 |
| Median Household Income | $116,000 |