Gilbert, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Gilbert Neighborhoods Since 2000




Gilbert, AZ Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Gilbert Housing Market Information

With a population of 247,542, 73,617 total housing units (homes and apartments), and a median house value of $325,401, 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 85.99% of the town's housing units. Other types of housing that are prevalent in Gilbert include large apartment complexes or high rise apartments ( 9.39%), row houses and other attached homes ( 2.73%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.39%).

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 71.58% of Gilbert's homes, and 71.02% 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. 50.97% 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 ( 47.38%), and between 1940-1969 ( 1.25%).

Gilbert Home Appreciation Rates

Gilbert's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gilbert during the period has been just -1.58%, which is lower than 80% of US communities.

Appreciation rates are so strong in Gilbert that despite a nationwide downturn in the housing market, Gilbert real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gilbert appreciation rates continue to be some of the highest in America, at 7.65%, which is higher than appreciation rates in 85.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gilbert. Gilbert appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.

Importantly, this makes Gilbert one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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.

Average Home Values

 

Median Home Value:
$325,401

Gilbert, AZ HOME PRICES

Value Range
> $1,324,000 0.4
$993,001 - $1,324,000 1.0
$662,001 - $993,000 4.4
$529,001 - $662,000 6.8
$397,001 - $529,000 19.0
$264,001 - $397,000 34.1
$132,001 - $264,000 30.5
$66,001 - $132,000 2.0
$0 - $66,000 1.8

Very High for AZ
Very High for Nation

Value Relative to Nation Value Relative to State
14.0923473573186 10.1351351351351

Number Of Homes And Apartments:
73,617

Gilbert Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
69.31% 3.10% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,719 / per month

Homeownership Rate

Homeownership
Owners 71.58
Renters 28.42
Vacant 7.17

Housing Market Details

 

Age of Homes

AGE OF Gilbert HOMES
2000 or Newer 51.0
1970 - 1999 47.4
1940 - 1969 1.3
1939 or Older 0.4

Types of Homes

TYPE OF Gilbert HOMES
Single-Family 86.0
Townhomes 2.7
Small Apt. Buildings 1.4
Apt. Complexes 9.4
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Gilbert HOMES
No Bedroom 0.29
1 Bedroom 4.06
2 Bedrooms 11.87
3 Bedrooms 38.99
4 Bedrooms 32.03
5 or more bedrooms 12.77