Rent vs buy in Gilbert, AZ
Gilbert, Arizona shows a typical rent of $2,079 /mo alongside a typical home at $565,459.
Renting comes out ahead by $26k over 7 years
Today's mortgage rate and 20% down, applied to Gilbert's typical rent and home value. The break-even point falls at year 10.
Estimates, not quotes. Opinion, clearly labelled, with the math shown. Adjust a number and the stamp changes.
- Renting leads by
- $26k after 7 years
- Break-even point
- in year 10 when owning catches up
- Real cost of owning
- $4,631 each month year 1, against $2,079 rent
Change my numbers
Gilbert's typical rent and home value are the inputs behind the stamp. Your own rent, price and years can flip the result.
Do your numbers differ from the city's?
Enter the rent, price and down payment you want to use. Those numbers move the stamp.
Is it cheaper to rent or buy in Gilbert?
Renting costs less by $26,309 over 7 years, after counting what you get back when you sell. For the first 9 years, renting costs less. By year 10, owning catches up.
Rent. Owning. Running net cost, by year.
Average rent compared with mortgage payment in Gilbert
Rent and the mortgage cover only part of what you pay. Here are all monthly costs in year 1, using Gilbert's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,079 | All of it, every month |
| Mortgage payment | $3,083 | $2,717 of it is interest in year 1 |
| Property tax | $198 | 0.42% of the value a year |
| Insurance | $90 | Census median for the city |
| Upkeep | $471 | 1% of the value a year |
| Owning, cash out | $3,842 | $366 of it builds equity |
| Lost return on the down payment | $919 | What your cash would earn yearly at 8.3% |
| Buying costs, spread out | $236 | 3.5% of the price over 7 years |
| True cost of owning | $4,631 | Cash out, minus the equity share, plus the two lines listed above. |
The figures supporting the Gilbert verdict
- Typical home valueZillow ZHVI, September 2026
- $565,459
- Typical rentZillow ZORI, September 2026
- $2,079 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Arizona, 1995 to 2025
- 5.2% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Gilbert
- 0.42% of value
- Home insuranceCensus ACS 2020-2024, Gilbert
- $90 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would reverse it in Gilbert?
Every line marks where the 7-year verdict in Gilbert switches, and everything else stays as it is.
Renting wins if
- Home prices rise at under 5.7% a year (our long-run rate for Arizona's market is 5.2%).
- The rate for a mortgage stays above 6.42%.
- A comparable home rents below $2,360 a month (the typical figure here is $2,079).
- Moving before year 10.
Buying wins if
- Home prices rise faster than 5.7% each year.
- You lock in a mortgage rate under 6.42%, while the current rate is 7.24%.
- You'd pay over $2,360 a month to rent that same home.
- Staying 10 years or more.
How Gilbert compares with the other 812 cities
| Measure | Gilbert | Median city |
|---|---|---|
| Typical home value | $565,459 | $422,451 |
| Typical rent | $2,079 /mo | $1,837 /mo |
| Price-to-rent ratio | 22.7 (#218 of 813) | 18.5 |
| Home prices, last 10 years | 6.7% a year | 6.2% a year |
| Rents, last 5 years | 1% a year | 4% a year |
| Property tax | 0.42% | 0.87% |
| Households that rent | 27% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Arizona
- Rent. Phoenix, AZ. Renting comes out ahead by $14k.
- Toss-up. Tucson, AZ. Too close to call, buying $672 ahead.
- Rent. Mesa, AZ. Renting comes out $24k ahead.
- Rent. Chandler, AZ. Renting comes out ahead by $25k.
- Rent. Glendale, AZ. Renting comes out ahead by $17k.
- Rent. Scottsdale, AZ. Renting comes out ahead by $129k.
- Rent. Peoria, AZ. Renting comes out ahead by $17k.
- Rent. Tempe, AZ. Renting comes out ahead by $31k.
- Buy. Surprise, AZ. Buying comes out ahead by $18k.
- Rent. Goodyear, AZ. Renting comes out ahead by $28k.
- Buy. Buckeye, AZ. Buying comes out ahead by $29k.
- Buy. Yuma, AZ. Buying leads by $11k over renting.