Gilbert, Arizona Housing Market Prices
Gilbert Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 54% above the Arizona median$567,335
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Median rent 37% above the Arizona median$2,109
Housing Market Overview
| Metric | Gilbert | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $567,335 | $367,851 | $248,835 |
| Price Trend (Annual %) | 10.5% | 11.9% | 7.5% |
| Median Gross Rent | $2,109 | $1,543 | $1,407 |
| Rent Trend (Annual %) | 6.1% | 6.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gilbert is about 54% higher than in Arizona. Rent is about 37% higher than the Arizona average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Gilbert, up about 10.5% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Gilbert rose about 65.7% between 2015 and 2024, from $1,273 to $2,109. Over the same span, rent in Arizona rose about 69.1%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Gilbert.
Buying the median-priced home in Gilbert costs roughly 22.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Gilbert. The price-to-rent ratio in Arizona is about 19.9.
| Metric | Gilbert | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $567,335 | $367,851 | $248,835 |
| Median Household Income | $122,991 | $80,381 | $80,455 |
| Price-to-Income Ratio | 4.6 | 4.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Gilbert rose about 184.7%, while median household income rose about 45.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Gilbert | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.2% | 60.3% | 58.5% |
| Rental Rate | 25.8% | 29.2% | 31.2% |
| Vacancy Rate | 4.0% | 10.6% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Gilbert has a homeownership rate of 70.2%, higher than the Arizona average of 60.3%. Its housing vacancy rate is 4.0%, compared with 10.6% in Arizona.
Housing Stock
| Metric | Gilbert | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.90 people | 2.53 people | 2.53 people |
| Median Structure Built Year | 2002 | 1991 | 1978 |
| Median Number of Rooms | 6.2 | 5.3 | 5.5 |
The typical housing unit in Gilbert was built around 2002. On average, 2.9 people live in a home with about 6.2 rooms, staying for about 11.0 years on average.
Gilbert, AZ Housing Compared With Nearby Cities
Gilbert, AZ is typical in size for this group, 272,475 residents against a local median of 269,220, so the measures below are close to a like for like comparison. The measure that sets Gilbert, AZ apart most is median home price: $567,335, 19% above the local median of $476,562.
The cities themselves spread $424,370 on median home price, so Gilbert, AZ sits at one end of an already wide local range rather than apart from it. Gilbert, AZ has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Gilbert, AZ | 272,475 | $567,335 #2/4 | $2,109 #2/4 | 73.1% #2/4 |
| Mesa, AZ | 504,945 | $308,232 | $1,616 | 64.5% |
| Chandler, AZ | 269,220 | $476,562 | $1,897 | 64.3% |
| Queen Creek, AZ | 67,869 | $732,602 | $2,168 | 89.4% |
Frequently Asked Questions
Common questions about the housing market in Gilbert, Arizona.
What is the median home price in Gilbert, Arizona?
The median home price in Gilbert, Arizona is $567,335, higher than the Arizona average of $367,851.
What is the average home price in Gilbert, Arizona?
The typical home price in Gilbert, Arizona, reported as the median sale price, is $567,335. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Gilbert, Arizona?
The median gross rent in Gilbert, Arizona is $2,109 per month, higher than the Arizona average of $1,543.
What was the median gross rent in Gilbert in 2020?
In 2020, the median gross rent in Gilbert, Arizona was $1,582 per month.
What is the price-to-rent ratio in Gilbert, Arizona?
The price-to-rent ratio in Gilbert, Arizona is about 22.4, meaning it would take roughly 22.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Gilbert.
Are home prices or rent rising faster in Gilbert, Arizona?
Both home prices and rent are rising in Gilbert, up about 10.5% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gilbert, Arizona?
70.2% of households in Gilbert, Arizona own their home, higher than the Arizona average of 60.3%.
What is the vacancy rate in Gilbert, Arizona?
The housing vacancy rate in Gilbert, Arizona is 4.0%, lower than the Arizona average of 10.6%.
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