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Gilbert, AZ—85233

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$524,000
0.8% YoY Growth
Household Income
$105,000
23.1% YoY Growth
Days on Market
51
9.0% Longer YoY
Home Price Forecast
-1.1%
Median Rent
$2,500
12.3% YoY Growth
1-Bed Rent
$1,320
14.3% YoY Growth
2-Bed Rent
$1,900
31.0% YoY Growth
3-Bed Rent
$2,300
7.0% YoY Growth

Other Zip Codes in Gilbert, AZ

8523485297852988529585296
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Gilbert, AZ

As of May '26, the median home price in Gilbert, AZ is $524,000, with a year-over-year change of -0.8%. This indicates that home prices in Gilbert, AZ are flat. According to Zillow, the 1-year price projection is -1.1%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$524,000-0.8%
Single Family $528,000-0.8%
Condos $341,000-3.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$354,000-4.1%
    3 Bed
    		$474,000-1.2%
    4 Bed
    		$593,000-0.3%
    5 Bed $731,6810.3%
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    % of Housing Stock

    Studio
    1.3%
    1 Bedroom
    6.4%
    2 Bedrooms
    14.2%
    3 Bedrooms
    44.8%
    4 Bedrooms
    24.7%
    5+ Bedrooms
    8.5%

    Rental Trends — Gilbert, AZ

    As of July '25, Rentcast reports the average rent in Gilbert, AZ is $2,730, with a year-over-year rent change of 12.3%. Per bedroom, the median rent as of July '25 in Gilbert, AZ is studios: $1,500, 1-bedrooms: $1,320, 2-bedrooms: $2,450, 3-bedrooms: $2,400, 4-bedrooms: $3,120. The most common rental property sizes in Gilbert, AZ are 3-bedroom and 2-bedroom, accounting for 35.9% and 29.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,500$2,730
    Studio Rent $1,440$1,500
    1 Bed Rent $1,320$1,320
    2 Bed Rent $1,900$2,450
    3 Bed Rent $2,300$2,400
    4 Bed Rent $2,950$3,120
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    % of Rental Stock

    Studio
    3.8%
    1 Bedroom
    19.3%
    2 Bedrooms
    29.1%
    3 Bedrooms
    35.9%
    4 Bedrooms
    8.8%
    5+ Bedrooms
    3.1%

    Property Listings — Gilbert, AZ

    As of May '26, Realtor.com reports that the median days on market for a home in Gilbert, AZ is 51. This is a increase of 9.0% 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
    		$545,000-5.0%
    Listing Count
    		129-19.0%
    Listings as % of Homes0.6%-19.0%
    Days on Market
    		519.0%
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    Demographics — Gilbert, AZ

    As of the latest ACS Survey released in 2023, Gilbert, AZ has a population of 37,800, which has increased by 7.2% over the past 5 years. Gilbert, AZ is a moderately popular place for families, as children make up 23.1% of the population. The area has a moderately educated workforce, with 42.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		37,8007.2%
    % Under 18
    		23.1%-2.9%
    % Seniors
    		14.7%41.3%
    % WFH
    		21.2%241.9%
    % w/ College Degree
    		42.9%1.9%
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    As of the latest ACS Survey released in 2023, Gilbert, AZ is a predominantly white area, with 61.6% of the population identifying as white. The white population has shrunk by 7.6% in the last 5 years. The second most common race or ethnicity in Gilbert, AZ is hispanic, making up 18.2% of the population. Foreign-born residents account for 13.9% of the population in Gilbert, AZ, and this percentage has increased by 32.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		61.6%-7.6%
    % Black
    		4.4%63.0%
    % Hispanic
    		18.2%-9.0%
    % Asian
    		10.3%45.1%
    % Foreign Born
    		13.9%32.4%
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    Mortgage and Risk — Gilbert, AZ

    According to HUD data as of 2023, there were 701 mortgage originations in Gilbert, AZ, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Gilbert, AZ. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		701
    % Conventional Loans
    		84.0%
    % Government Loans
    		16.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		15.0%
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    Rentals and Section 8 — Gilbert, AZ

    As of 2024, the percent of homes in Gilbert, AZ under the Section 8 program is 0.4%. 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
    		19
    Total Units Section 8
    		19
    % Rentals under Section 8
    		0.4%
    % Occupied Section 8
    		83.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$770$1,320$2,090
    2 Bedroom$530$1,900$2,430
    3 Bedroom$970$2,300$3,270
    4 Bedroom$710$2,950$3,660

    Affordability — Gilbert, AZ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5
    Median Home Price$524,000
    Median Household Income$105,000

    Gilbert, AZ — ZIP Code Boundary Map

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    Frequently Asked Questions