Gilbert, AZ Rental Market Trends
Gilbert Rent Report: November 2024
Welcome to the Apartment List November 2024 Rent Report for Gilbert, AZ. Currently, the overall median rent in the city stands at $1,746, after falling 1.2% last month. Prices are now down 3.4% year-over-year. Read on to learn more about what’s been happening in the Gilbert rental market and how it compares to trends throughout the broader Phoenix metro area and the nation as a whole.
Gilbert rents are down 1.2% month-over-month and down 3.4% year-over-year
The median rent in Gilbert fell by 1.2% over the course of October, and has now decreased by a total of 3.4% over the past 12 months. Gilbert’s rent growth over the past year has is similar to the state average (-2.5%) but has fallen below the national average (-0.7%).
Gilbert rent growth in 2024 pacing below last year
Ten months into the year, rents in Gilbert have fallen 1.9%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to October 2023 rents had decreased 1.3%.
October rent growth in Gilbert ranked #79 among large U.S. cities
Gilbert rents went down 1.2% in the past month, compared to the national rate of -0.7%. Among the nation's 100 largest cities, this ranks #79. Similar monthly rent growth took place in Raleigh, NC (-1.2%) and Cincinnati, OH (-1.3%).
Gilbert is the #24 most expensive large city in the U.S., with a median rent of $1,746
Citywide, the median rent currently stands at $1,447 for a 1-bedroom apartment and $1,580 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,746. That ranks #24 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,225 for a 1-bedroom, $1,380 for a 2-bedroom, and $1,394 overall. The median rent in Gilbert is 25.3% higher than the national, and is similar to the prices you would find in Long Beach, CA ($1,750) and Denver, CO ($1,739).
Gilbert rents are 22.5% higher than the metro-wide median
If we expand our view to the wider Phoenix metro area, the median rent is $1,426 meaning that the median price in Gilbert ($1,746) is 22.5% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -2.7%, above the rate of rent growth within just the city.
The table below shows the latest rent stats for 11 cities in the Phoenix metro area that are included in our database. Among them, Surprise is currently the most expensive, with a median rent of $1,768. Glendale is the metro’s most affordable city, with a median rent of $1,313. The metro's fastest annual rent growth is occurring in Surprise (2.1%) while the slowest is in Glendale (-4.9%).
You can also use the map below to explore the latest rent trends in the Phoenix metropolitan area.
Methodology
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Data Access
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
Top rent specials in Gilbert
Cities similar to Gilbert
Bedrooms
Amenities
- Gilbert Accessible Apartments (40)
- Gilbert Apartments with Balconies (239)
- Gilbert Apartments with Garages (235)
- Gilbert Apartments with Gyms (57)
- Gilbert Apartments with Hardwood Floors (54)
- Gilbert Apartments with Parking (258)
- Gilbert Apartments with Pools (214)
- Gilbert Apartments with Washer-Dryers (182)
- Gilbert Dog Friendly Apartments (131)
- Gilbert Furnished Apartments (33)
- Gilbert Luxury Apartments (354)
- Gilbert Pet Friendly Apartments (155)
Property Type
Cities
- Mesa, AZ Apartments (428)
- Chandler, AZ Apartments (278)
- Queen Creek, AZ Apartments (42)
- Sun Lakes, AZ Apartments (20)
- Cave Creek, AZ Apartments (13)
- Coolidge, AZ Apartments (30)
- Tempe, AZ Apartments (305)
- El Mirage, AZ Apartments (29)
- Wickenburg, AZ Apartments (16)
- Youngtown, AZ Apartments (11)
- Anthem, AZ Apartments (40)
- Florence, AZ Apartments (20)
- Marana, AZ Apartments (56)
- San Tan Valley, AZ Apartments (124)
- Carefree, AZ Apartments (21)
- Scottsdale, AZ Apartments (939)