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Gilbert, AZ—85298

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$674,000
2.2% YoY Growth
Household Income
$147,000
38.6% YoY Growth
Days on Market
60
3.0% Longer YoY
Home Price Forecast
0.7%
Median Rent
$2,900
8.9% YoY Growth
1-Bed Rent
N/A
N/A
2-Bed Rent
$3,000
13.3% YoY Growth
3-Bed Rent
$2,600
1.4% YoY Growth

Other Zip Codes in Gilbert, AZ

8523385234852978529585296
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Gilbert, AZ

As of Dec '25, the median home price in Gilbert, AZ is $674,000, with a year-over-year change of -2.2%. This indicates that home prices in Gilbert, AZ are decreasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$674,000-2.2%
Single Family $674,000-2.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$521,000-2.4%
    3 Bed
    		$571,000-2.6%
    4 Bed
    		$693,000-2.1%
    5 Bed $826,720-1.7%
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    % of Housing Stock

    Studio
    0.3%
    1 Bedroom
    0.6%
    2 Bedrooms
    11.2%
    3 Bedrooms
    29.2%
    4 Bedrooms
    39.8%
    5+ Bedrooms
    18.8%

    Rental Trends — Gilbert, AZ

    As of July '25, Rentcast reports the average rent in Gilbert, AZ is $3,320, with a year-over-year rent change of 8.9%. Per bedroom, the median rent as of July '25 in Gilbert, AZ is 2-bedrooms: $3,070, 3-bedrooms: $2,800, 4-bedrooms: $3,340. The most common rental property sizes in Gilbert, AZ are 4-bedroom and 3-bedroom, accounting for 61.5% and 23.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,900$3,320
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent $3,000$3,070
    3 Bed Rent $2,600$2,800
    4 Bed Rent $2,900$3,340
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    % of Rental Stock

    1 Bedroom
    4.1%
    2 Bedrooms
    3.2%
    3 Bedrooms
    23.5%
    4 Bedrooms
    61.5%
    5+ Bedrooms
    7.7%

    Property Listings — Gilbert, AZ

    As of Dec '25, Realtor.com reports that the median days on market for a home in Gilbert, AZ is 59. This is a increase of 20.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$679,000-7.0%
    Listing Count
    		17014.0%
    Listings as % of Homes1.3%14.0%
    Days on Market
    		603.0%
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    Demographics — Gilbert, AZ

    As of the latest ACS Survey released in 2023, Gilbert, AZ has a population of 43,500, which has increased by 40.5% over the past 5 years. Gilbert, AZ is a popular place for families, as children make up 31.2% of the population. The area has a highly educated workforce, with 50.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		43,50040.5%
    % Under 18
    		31.2%0.3%
    % Seniors
    		15.9%8.2%
    % WFH
    		28.2%118.6%
    % w/ College Degree
    		50.7%7.6%
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    As of the latest ACS Survey released in 2023, Gilbert, AZ is a predominantly white area, with 72.3% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Gilbert, AZ is hispanic, making up 13.7% of the population. Foreign-born residents account for 9.5% of the population in Gilbert, AZ, and this percentage has increased by 6.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		72.3%-4.9%
    % Black
    		1.9%-32.1%
    % Hispanic
    		13.7%21.2%
    % Asian
    		7.6%7.0%
    % Foreign Born
    		9.5%6.7%
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    Mortgage and Risk — Gilbert, AZ

    According to HUD data as of 2023, there were 1490 mortgage originations in Gilbert, AZ, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Gilbert, AZ. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		1,490
    % Conventional Loans
    		90.0%
    % Government Loans
    		10.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		10.0%
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    Rentals and Section 8 — Gilbert, AZ

    Gilbert, AZ lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		5
    Total Units Section 8
    		5
    % Rentals under Section 8
    		0.3%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$2,520
    2 Bedroom-$70$3,000$2,930
    3 Bedroom$1,340$2,600$3,940
    4 Bedroom$1,510$2,900$4,410

    Affordability — Gilbert, AZ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.5
    Median Home Price$674,000
    Median Household Income$147,000

    Gilbert, AZ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Gilbert, AZ

    85297

    Gilbert, AZ

    85295

    Chandler, AZ

    85249

    Queen Creek, AZ

    85142

    Gilbert, AZ

    85296

    Frequently Asked Questions