Real Estate Investing in Gilbert, Arizona (85234)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 85234 (Gilbert, AZ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 25.5 — hard to cash-flow at these prices.
What’s happening in Gilbert, AZ (85234)?
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Market Analysis: 85234 Gilbert
ZIP 85234 in Gilbert, AZ carries a notable set of headwinds. Home values near $555K and rents of $1,813/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 85234 clocks in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within AZ, ZIP 85234 trails on several market indicators that neighboring Maricopa County submarkets outperform. The gap is real and healthy enough to shape underwriting.
The 85234 ZIP's population of 49,040 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
Strategically, 85234 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Gilbert:
Property Strategy for 85234
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $329,351 | $2,270 | 5.0% | +7.5% | $164,676 |
| 3BR | $468,829 | $3,030 | 4.7% | +7.6% | $156,276 |
| 4BR | $588,726 | $3,360 | 4.1% | +8.0% | $147,182 |
| 5BR | $769,895 | — | — | +8.8% | $153,979 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 85234 Compare?
| Metric | 85234 | Gilbert | Phoenix-Mesa-Chandler, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $554,682 | $573,628 | N/A | $419,643 |
| 5-Year CAGR | 3.5% | 2.9% | N/A | 6.5% |
| Avg Rent | $1,813 | $2,144 | N/A | - |
| Cap Rate | 2.6% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 85234 (Gilbert, AZ). Anonymous, moderated, never written by AI.
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Property managers serving Maricopa County
Manage rentals here? List your business →Active Renter Property Management offers rental property management services in Phoenix, Arizona, including a 6-month tenant guarantee. summary from their website
Arête Realty and Property Management, LLC offers property management services and real estate expertise in Glendale, Avondale, Chandler, Mesa, Gilbert, Sun City, Paradise Valley, Scottsdale, and Peori summary from their website
Arizona Community Management Services offers a comprehensive suite of services for Association leaders, including board training, financial management, and covenants enforcement, with decades of exper summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $554,682 |
| Monthly Rent | $1,813 |
| Price-to-Rent | 25.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.6% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +3.5% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | -4.8% ▼ |
| 3-Year CAGR | -2.5% ▼ |
| 5-Year CAGR | -0.1% ▼ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 85234
Population: 49,040
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 85234
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,401 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Gilbert, AZ?
Median home price in Gilbert, AZ is near $555K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
Are there empty rentals in Gilbert, AZ?
Gilbert, AZ sees elevated vacancy, which is reasonable relative to the broader AZ rental market.
How qualified is the tenant pool in Gilbert, AZ?
The tenant pool in Gilbert, AZ is solid, supported by local employment and population fundamentals. Rents of $1,813/mo are well-absorbed by the market.
How strong are rents in Gilbert, AZ?
Investors in Gilbert, AZ typically see rents near $1,813/mo per month against $555K home values - a solid setup for rental cash flow.
Is Gilbert, AZ suited for a house hack?
The a challenging house-hack environment in Gilbert, AZ reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
You know 85234 now. You don’t know where it ranks.
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How 85234 ranks in Phoenix-Mesa-Chandler, AZ
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