Gilbert, AZ—85297
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 $588,000, with a year-over-year change of -3.3%. This indicates that home prices in Gilbert, AZ are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $588,000 | -3.3% |
| Single Family | $590,000 | -3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $475,000 | -4.2% |
4 Bed | $596,000 | -3.1% |
| 5 Bed | $771,000 | -2.0% |
% of Housing Stock
Rental Trends — Gilbert, AZ
As of July '25, Rentcast reports the average rent in Gilbert, AZ is $2,810, with a year-over-year rent change of 2.9%. Per bedroom, the median rent as of July '25 in Gilbert, AZ is studios: $1,310, 1-bedrooms: $1,470, 2-bedrooms: $2,280, 3-bedrooms: $2,380, 4-bedrooms: $3,100. The most common rental property sizes in Gilbert, AZ are 3-bedroom and 4-bedroom, accounting for 45.7% and 22.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,810 |
| Studio Rent | $1,310 | $1,310 |
| 1 Bed Rent | $1,500 | $1,470 |
| 2 Bed Rent | $2,280 | $2,280 |
| 3 Bed Rent | $2,300 | $2,380 |
| 4 Bed Rent | $2,680 | $3,100 |
% 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 76. This is a increase of 50.0% 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 51.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $731,000 | 9.0% |
Listing Count | 130 | 26.0% |
| Listings as % of Homes | 0.9% | 26.0% |
Days on Market | 76 | 50.0% |
Demographics — Gilbert, AZ
As of the latest ACS Survey released in 2023, Gilbert, AZ has a population of 35,500, which has increased by 7.6% over the past 5 years. Gilbert, AZ is a popular place for families, as children make up 33.0% of the population. The area has a highly educated workforce, with 45.5% 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 | 35,500 | 7.6% |
% Under 18 | 33.0% | -9.3% |
% Seniors | 8.4% | 47.4% |
% WFH | 22.9% | 131.3% |
% w/ College Degree | 45.5% | -6.2% |
As of the latest ACS Survey released in 2023, Gilbert, AZ is a predominantly white area, with 66.4% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Gilbert, AZ is hispanic, making up 15.4% of the population. Foreign-born residents account for 10.4% of the population in Gilbert, AZ, and this percentage has increased by 9.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.4% | -1.2% |
% Black | 3.1% | -27.9% |
% Hispanic | 15.4% | -13.5% |
% Asian | 8.0% | 9.6% |
% Foreign Born | 10.4% | 9.5% |
Mortgage and Risk — Gilbert, AZ
According to HUD data as of 2023, there were 726 mortgage originations in Gilbert, AZ, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Gilbert, AZ. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 726 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Gilbert, AZ
As of 2024, the percent of homes in Gilbert, AZ under the Section 8 program is 0.9%. 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 | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $840 | $1,500 | $2,340 |
| 2 Bedroom | $440 | $2,280 | $2,720 |
| 3 Bedroom | $1,360 | $2,300 | $3,660 |
| 4 Bedroom | $1,410 | $2,680 | $4,090 |
Affordability — Gilbert, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $588,000 |
| Median Household Income | $133,000 |