Total monthly cost of ownership
Cost to Own a Home in Gilbert, Arizona
A $519,000 home here costs
$3,613per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,668. The real number is $945 higher every month — 35% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Gilbert against Maricopa County and Arizona
| Measure | Gilbert | Maricopa County |
|---|---|---|
| Median home value | $518,600 | $414,700 |
| Median property tax | $2,381 | $1,965 |
| Effective tax rate | 0.459% | 0.474% |
| Median gross rent | $2,028 | $1,587 |
| Population | 271,118 | 4,491,987 |
The weather behind that power bill
Gilbert sits in Maricopa County, which averages a high of 106.5°F in its hottest month and a low of 42.0°F in its coldest, with 8.18" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 4,202 cooling and 1,140 heating degree days, which is what sets the $137 electricity line above.
See the full climate breakdown for Maricopa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Maricopa County
Full Maricopa County cost breakdown · Every county in Arizona
Common questions
How much does it cost to own a home in Gilbert?
A $519,000 home in Gilbert, Arizona costs approximately $3,613 per month with 20% down at 6.66%. That is $2,668 principal and interest, $199 property tax, $109 homeowners insurance, $205 utilities and $433 set aside for maintenance.
What is the property tax rate in Gilbert?
Gilbert has an effective property tax rate of 0.459%, based on a median home value of $518,600 and median real estate taxes of $2,381. That is lower than the Maricopa County average of 0.474%.
What is the average home price in Gilbert?
The median owner-occupied home value in Gilbert, Arizona is $518,600, against $414,700 across Maricopa County.
Is it cheaper to rent or buy in Gilbert?
Median gross rent in Gilbert is $2,028 a month, against $3,613 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gilbert — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Arizona.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.