85298, Gilbert, AZ

Gilbert, Arizona is a city located in the Phoenix metropolitan area. According to the 2010 census, Gilbert has a population of 143,816. The 85298 zip code includes most of Gilbert and has a population of 97,912. Home equity is an important part of the American Dream and home prices are an important part of the economy in Gilbert.

The average home price in Gilbert was $157,000 in February 2016 according to Zillow. This is up from $153,000 in February 2015 and $141,000 in February 2014. The median home price was $151,500 in February 2016 which is also up from $147,500 in February 2015 and $134,500 in February 2014. There has been an increase of about 9% over the past two years for homes priced between $150K-$250K while there has been a decrease of about 3% for homes priced over $250K.

The percentage of households that own their homes outright (not including condos or co-ops) was 78% as of December 2016 according to Trulia. This is down from 82% as of December 2015 but up from 73% as of December 2014. The percentage that owns their homes with a mortgage was 22% as of December 2016 which is down from 24% as of December 2015 but up from 20% as of December 2014.