Rent, population, and median household income are important factors to consider for a 1031 exchange in Gilbert due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Gilbert, Arizona is a part of the Chandler/Gilbert Submarket submarket area, and contains 7 zip codes, including: 85233, 85234, 85297, 85299, 85296, and 85298.
Gilbert Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Gilbert, AZ submarket area was $1,383, which is 40.55% higher than 2014 average rent. This represents a compounded annual growth rate of 7.04%. 2019 vacancy in Gilbert, AZ was 5.60%.
The total population of the city of Gilbert, AZ has grown 19.11% since 2010. As of 2018, the population was 248,279. The median household income of the Gilbert was $92,350, which is 53.17% higher than the national average.
- submarket area Chandler / Gilbert Submarket
- avg rent $1,383
- rent growth 40.55%
- vacancy 5.60%
- median income $92,350
- population (2018) 248,279
- population growth 19.11%
- vs. nat'l avg 53.17%
- zip codes 85233 85234 85295 85296 85297 85298 85299
