1031 Exchange Gilbert, Arizona

 

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

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