Gilroy, CA—95020
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gilroy, CA
As of Oct '25, the median home price in Gilroy, CA is $1,043,000, with a year-over-year change of -3.9%. This indicates that home prices in Gilroy, CA 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 Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,043,000 | -3.9% |
| Single Family | $1,055,000 | -3.9% |
| Condos | $553,000 | -4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $492,000 | -6.8% |
2 Bed | $684,000 | -3.9% |
3 Bed | $917,000 | -4.4% |
4 Bed | $1,104,000 | -3.8% |
| 5 Bed | $1,321,000 | -3.2% |
% of Housing Stock
Rental Trends — Gilroy, CA
As of July '25, Rentcast reports the average rent in Gilroy, CA is $3,330, with a year-over-year rent change of -1.8%. Per bedroom, the median rent as of July '25 in Gilroy, CA is studios: $1,900, 1-bedrooms: $2,150, 2-bedrooms: $2,610, 3-bedrooms: $4,010, 4-bedrooms: $4,330. The most common rental property sizes in Gilroy, CA are 2-bedroom and 3-bedroom, accounting for 34.9% and 24.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,330 |
| Studio Rent | $1,900 | $1,900 |
| 1 Bed Rent | $2,100 | $2,150 |
| 2 Bed Rent | $2,580 | $2,610 |
| 3 Bed Rent | $3,880 | $4,010 |
| 4 Bed Rent | $4,380 | $4,330 |
% of Rental Stock
Property Listings — Gilroy, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Gilroy, CA is 49. This is a increase of 32.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,250,000 | 5.0% |
Listing Count | 128 | 5.0% |
| Listings as % of Homes | 0.4% | 5.0% |
Days on Market | 49 | 32.0% |
Demographics — Gilroy, CA
As of the latest ACS Survey released in 2023, Gilroy, CA has a population of 67,900, which has increased by 6.4% over the past 5 years. Gilroy, CA is a popular place for families, as children make up 26.5% of the population. The area has a moderately educated workforce, with 27.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 67,900 | 6.4% |
% Under 18 | 26.5% | -4.3% |
% Seniors | 13.6% | 15.3% |
% WFH | 13.4% | 143.6% |
% w/ College Degree | 27.9% | 3.0% |
As of the latest ACS Survey released in 2023, Gilroy, CA is a predominantly hispanic area, with 57.2% of the population identifying as hispanic. The hispanic population has grown by 1.4% in the last 5 years. The second most common race or ethnicity in Gilroy, CA is white, making up 25.9% of the population. Foreign-born residents account for 23.5% of the population in Gilroy, CA, and this percentage has increased by 0.9% 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 | 25.9% | -18.0% |
% Black | 2.9% | 93.3% |
% Hispanic | 57.2% | 1.4% |
% Asian | 9.2% | 5.7% |
% Foreign Born | 23.5% | 0.9% |
Mortgage and Risk — Gilroy, CA
According to HUD data as of 2023, there were 761 mortgage originations in Gilroy, CA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Gilroy, CA. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 761 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Gilroy, CA
As of 2024, the percent of homes in Gilroy, CA under the Section 8 program is 17.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Gilroy, CA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,213 |
Total Units Section 8 | 1,193 |
% Rentals under Section 8 | 17.2% |
% Occupied Section 8 | 92.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $330 | $2,100 | $2,430 |
| 2 Bedroom | $240 | $2,580 | $2,820 |
| 3 Bedroom | -$270 | $3,880 | $3,610 |
| 4 Bedroom | -$390 | $4,380 | $3,990 |
Affordability — Gilroy, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.5 |
| Median Home Price | $1,043,000 |
| Median Household Income | $134,000 |