Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 273,136 people, 88,427 houses or apartments, and a median cost of homes of $539,268, Gilbert house prices are not only among the most expensive in Arizona, Gilbert real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Gilbert, accounting for 84.03% of the town's housing units. Other types of housing that are prevalent in Gilbert include large apartment complexes or high rise apartments ( 10.61%), row houses and other attached homes ( 3.28%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.71%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gilbert. Owner-occupied housing accounts for 74.04% of Gilbert's homes, and 70.29% have either three or four bedrooms, which is average sized relative to America.
Gilbert homes and real estate are some of the newest in America. 56.99% of Gilbert's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Gilbert real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 41.82%), and between 1940-1969 ( 1.13%).
In the last 10 years, Gilbert has experienced some of the highest home appreciation rates of any community in the nation. Gilbert real estate appreciated 141.79% over the last ten years, which is an average annual home appreciation rate of 9.23%, putting Gilbert in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Gilbert definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Gilbert appreciation rates have trailed the rest of the nation. In the last twelve months, Gilbert's appreciation rate has been -4.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gilbert were at 1.42%, which equates to an annual appreciation rate of 5.82%.
Notably, Gilbert's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arizona, our data show that Gilbert's latest annual appreciation rate is lower than 50% of the other cities and towns in Arizona.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Gilbert differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gilbert - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Gilbert real estate investment or home purchase decisions.
$3,869 / per month