What was once a rural farming community in Arizona is now Gilbert, a city with about 200,000 residents and a reputation for being extremely family-friendly. Though it still houses some historic properties and family-owned farms at the edge of town, this Phoenix suburb grew very fast in the last two decades and now has several brand new shopping centers and many condos and rent to own houses. One of the newest and most popular plazas in this city is San Tan Village, an outdoor mall with hundreds of places to shop, eat, and see movies.
Gilbert, AZ is a great place for affordable rent-to-own homes! With a median household income of over $99,154 and a median rent of $1,580, the Gilbert, AZ rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Gilbert, AZ. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Gilbert, AZ is seeing rapid growth and Gilbert, AZ's' housing market remains not optimal with an average home price that is 60% above the 2022 national average. Gilbert, AZ is part of Maricopa county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Maricopa is 0.59% which is below the national average, which is 0.99%.
Gilbert, AZ has a walk score of
Gilbert, AZ has a bike score of
The state tax rate is 2.59 to 4.5% on top of the federal tax rate of 10 to 37%.