Gilbert, AZ—85298
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gilbert, AZ
As of Nov '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 Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $674,000 | -2.2% |
| Single Family | $674,000 | -2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | 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% |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,900 | $3,320 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $3,000 | $3,070 |
| 3 Bed Rent | $2,600 | $2,800 |
| 4 Bed Rent | $2,900 | $3,340 |
% of Rental Stock
Property Listings — Gilbert, AZ
As of Nov '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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $715,000 | -5.0% |
Listing Count | 202 | 17.0% |
| Listings as % of Homes | 1.3% | 17.0% |
Days on Market | 59 | 20.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,500 | 40.5% |
% Under 18 | 31.2% | 0.3% |
% Seniors | 15.9% | 8.2% |
% WFH | 28.2% | 118.6% |
% w/ College Degree | 50.7% | 7.6% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
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 Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $674,000 |
| Median Household Income | $147,000 |