Gilbert, AZ—85296
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 $543,000, with a year-over-year change of -3.5%. 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 | $543,000 | -3.6% |
| Single Family | $545,000 | -3.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $379,000 | 1.3% |
3 Bed | $463,000 | -4.1% |
4 Bed | $597,000 | -3.1% |
| 5 Bed | $810,000 | -1.3% |
% of Housing Stock
Rental Trends — Gilbert, AZ
As of July '25, Rentcast reports the average rent in Gilbert, AZ is $2,540, with a year-over-year rent change of 6.7%. Per bedroom, the median rent as of July '25 in Gilbert, AZ is 1-bedrooms: $1,650, 2-bedrooms: $2,100, 3-bedrooms: $2,420, 4-bedrooms: $2,880. The most common rental property sizes in Gilbert, AZ are 3-bedroom and 2-bedroom, accounting for 41.6% and 24.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,360 | $2,540 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,650 | $1,650 |
| 2 Bed Rent | $2,000 | $2,100 |
| 3 Bed Rent | $2,300 | $2,420 |
| 4 Bed Rent | $2,700 | $2,880 |
% 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 64. This is a increase of 13.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $587,000 | -6.0% |
Listing Count | 178 | 25.0% |
| Listings as % of Homes | 0.8% | 25.0% |
Days on Market | 64 | 13.0% |
Demographics — Gilbert, AZ
As of the latest ACS Survey released in 2023, Gilbert, AZ has a population of 52,100, which has increased by 19.3% over the past 5 years. Gilbert, AZ is a popular place for families, as children make up 29.1% of the population. The area has a highly educated workforce, with 49.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 52,100 | 19.3% |
% Under 18 | 29.1% | -7.9% |
% Seniors | 8.7% | 13.0% |
% WFH | 24.3% | 207.6% |
% w/ College Degree | 49.1% | 17.5% |
As of the latest ACS Survey released in 2023, Gilbert, AZ is a predominantly white area, with 66.5% of the population identifying as white. The white population has shrunk by 8.1% in the last 5 years. The second most common race or ethnicity in Gilbert, AZ is hispanic, making up 17.0% of the population. Foreign-born residents account for 8.1% of the population in Gilbert, AZ, and this percentage has decreased by 1.2% 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 | 66.5% | -8.1% |
% Black | 4.4% | 2.3% |
% Hispanic | 17.0% | 9.0% |
% Asian | 5.2% | 18.2% |
% Foreign Born | 8.1% | -1.2% |
Mortgage and Risk — Gilbert, AZ
According to HUD data as of 2023, there were 815 mortgage originations in Gilbert, AZ, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 23.0% 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. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 815 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Gilbert, AZ
As of 2024, the percent of homes in Gilbert, AZ under the Section 8 program is 0.7%. 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 | 39 |
Total Units Section 8 | 39 |
% Rentals under Section 8 | 0.7% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $660 | $1,650 | $2,310 |
| 2 Bedroom | $680 | $2,000 | $2,680 |
| 3 Bedroom | $1,310 | $2,300 | $3,610 |
| 4 Bedroom | $1,330 | $2,700 | $4,030 |
Affordability — Gilbert, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $543,000 |
| Median Household Income | $117,000 |