Finding Rent To Own Homes In Gilbert, AZ – 2024

Overview of Rent to Own Homes in Gilbert, AZ

Gilbert, AZ is a thriving community in Arizona with a growing real estate market. Rent to own homes are a popular option for those looking to buy properties without the immediate financial commitment of a traditional home purchase.

Housing and Property Types

Most rent to own homes in Gilbert are 3-4 bedroom Southwestern-style single-family homes. Many neighborhoods feature houses built after 2000. This makes the homes relatively new and attractive to buyers.

Housing Prices and Trends

Housing prices in Gilbert are climbing. Currently, the median home price is around $400,000, and experts expect this to rise. This makes now a potentially good time to consider a rent to own arrangement before prices escalate further.

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Ownership and Rental Statistics

A significant portion of Gilbert’s residents are homeowners. About 72.6% own their homes, while 27.4% rent. This balance shows a strong preference for ownership, but renting is still a viable option for many.

Variety of Listings

Gilbert offers a variety of rent to own listings. There are around 673 rent to own homes available in the area, catering to various budget ranges and family sizes.

Tax Considerations

Gilbert is part of Maricopa County, where the current tax rate is 0.59%. This is lower than the national average of 0.99%, which can make homeownership more affordable here.

For more information, visit the listings on HomeFinder or ZeroDown.

Key Benefits and Considerations of Rent-to-Own Arrangements


Rent-to-own agreements give potential homeowners the chance to secure a property. They can move in immediately while they work toward building a down payment.

These agreements often offer a fixed purchase price. This can be especially helpful in a housing market with rising home values. Locking in a price now might result in savings later on.

Renters usually pay an extra monthly amount that goes toward their future down payment. This helps build equity over time.


It’s important to carefully review the terms of the rent-to-own contract. Some agreements might have high rent premiums. Buyers must ensure the monthly payments are affordable.

There might be strict conditions regarding property maintenance. In some cases, the renter could be responsible for repairs and upkeep.

Credit scores still matter. Renters typically need to meet certain credit criteria to qualify for a mortgage when the lease term ends.

Rent-to-own properties can be an attractive option for those who are not yet ready for traditional homeownership, but caution is key. It’s wise to consult with a real estate professional before committing to any agreement. Additional details about how rent-to-own homes work can provide further insights.

Steps to Finding Rent-to-Own Properties in Gilbert

Finding rent-to-own homes in Gilbert, AZ involves researching the market, identifying suitable listings, and working with real estate professionals. Each step is crucial to ensure you get the best deal.

Researching the Local Market

Understanding the local market is the first step. Gilbert’s median home prices are rising, with many properties valued well above $400,000. The community primarily offers 3-4 bedroom Southwestern-style single-family homes built after 2000.

Review local neighborhoods within the 85233, 85234, 85295, 85296, 85297, and 85298 ZIP codes. Neighborhoods in these areas have unique features and may vary in price and availability. This helps in identifying the most suitable areas for rent-to-own properties, ensuring you find a home that fits your needs and budget.

Examine market trends, such as the percentage of homeowners and renters in Gilbert. For instance, 72.6% of residents are homeowners, while 27.4% rent their homes. Knowing whether the market has more buyers or renters can give you an idea of competition and availability.

Identifying Rent-to-Own Listings

Next, search for rent-to-own listings. Online platforms like HomeFinder, Rent to Own Labs, and ZeroDown provide extensive listings of rent-to-own homes in Gilbert.

Create filters based on criteria like the number of bedrooms, property size, or budget. This refines the search to match your specific needs. Look for listings in popular and well-developed areas to ensure better property value and amenities.

You may also join email lists on these platforms to receive updates on new listings. This is useful in a competitive market where properties can move quickly. Some sites also allow direct contact with sellers, providing an opportunity to negotiate terms.

Working with Real Estate Professionals

Engaging with real estate professionals can simplify the process. Realtors have in-depth knowledge of Gilbert’s housing market, including 85233, 85234, 85295, 85296, 85297, and 85298 areas. They can provide insights into market conditions and potential properties.

A real estate agent can also help you navigate the contractual aspects of rent-to-own agreements. They ensure that all terms are clear and legally sound. Working with a professional can prevent common pitfalls and make the purchasing process smoother.

Real estate agents might have exclusive access to listings not widely advertised online. This can be advantageous in finding properties that meet your specific criteria and are within your budget.

Understanding the Gilbert, AZ Housing Market

The Gilbert, AZ housing market shows a mix of steady growth, competitive pricing, and diverse neighborhood options. This section will explore current trends, compare housing prices, and analyze different neighborhoods to give a comprehensive view.

Current Market Trends

Gilbert, AZ has seen a rise in housing demand lately. Homes receive about two offers and spend roughly 42 days on the market. This reflects a somewhat competitive environment. The median sale price of a home recently reached $595,000, marking a 6.3% increase from the previous year. The per square foot price is $294, representing an 8.5% increase.

New developments and established neighborhoods both contribute to the market’s dynamism. The city’s population has grown by 1.91% from 2021 to 2022, showing continued interest in the area. This growth drives demand for both purchase and rental properties, making Gilbert an attractive location.

Comparing Housing Prices

The typical home price in Gilbert is higher than the national average. The median sale price currently sits at $595,000. Compared to the $294 per square foot price, single-family homes recently sold for about $289 per square foot. Condos, on the other hand, have seen little change in their price per square foot.

  • Median Sale Price:
    • $595,000 (recently)
  • Price Per Square Foot:
    • Single Family Homes: $289
    • Condos: Unchanged

These costs highlight the premium market status in Gilbert, often attributed to high-quality amenities, schools, and a good standard of living.

Neighborhood Analysis

Gilbert features a mix of well-established and newer neighborhoods. Popular areas like Val Vista Lakes and Power Ranch offer varied housing options. Val Vista Lakes is known for its upscale homes and beautiful landscapes, making it a sought-after area.

Newer neighborhoods such as Morrison Ranch provide modern amenities and community-focused living arrangements. Proximity to schools, parks, and shopping centers adds to their appeal. The town’s infrastructure supports a high quality of life, pushing housing prices upward.

Popular Neighborhoods:

  • Val Vista Lakes: Known for upscale homes
  • Power Ranch: Family-friendly with good amenities
  • Morrison Ranch: Modern living spaces

This variety caters to different buyer needs, from luxury homes to family-friendly communities. Gilbert’s neighborhood diversity ensures ample choices for potential homeowners.

Financial Aspects of Rent-to-Own in Gilbert

Understanding the financial aspects of a rent-to-own home in Gilbert, AZ can help potential buyers make informed decisions. This includes considering both the upfront and ongoing costs, as well as navigating the financial options available.

Calculating Potential Costs

Choosing a rent-to-own home in Gilbert involves several costs. First, there’s the option fee, often around 1-5% of the home’s purchase price, which gives you the right to buy the property later. This fee is usually non-refundable.

Rent payments tend to be higher than standard rentals because a portion of each payment goes toward the eventual down payment. For example, if you’re paying $1,800 in rent, about $300 might apply to your future purchase.

Gilbert’s housing prices are trending upwards. Homes are currently priced around $400,000 or more. This reflects the competitive cost of living, which includes not only housing but also utilities, groceries, and gas.

Moreover, you need to be aware of the state income tax and state sales tax in Arizona, which can impact your overall budget. Make sure to account for these when planning for your monthly expenses.

Navigating Loans and Mortgages

Securing a mortgage after the rent-to-own period requires planning. It’s essential to maintain a good credit score throughout the rental period. Even if you have bad credit, rent-to-own agreements can provide time to improve your financial situation.

Potential buyers in Gilbert can benefit from consulting with lenders early on. They can help outline what’s needed to qualify for a mortgage. It’s wise to save extra money for unexpected costs related to home inspections or repairs.

Additionally, it’s crucial to understand the specifics of different mortgage types and what might fit best for your situation. Some buyers might qualify for VA loans or FHA loans, which offer different benefits and criteria.

Overall, evaluating these financial aspects thoroughly can ensure a smoother transition from renting to owning your home.

The Legal Framework of Rent-to-Own Agreements

Rent-to-own agreements combine elements of a traditional rental contract with that of a purchase agreement. They offer a path for tenants to eventually buy the property they are renting.

Key Elements:

  • Lease Term: The initial period during which the tenant rents the property.
  • Option to Purchase: The right to buy the property within a specified period.
  • Option Fee: A non-refundable fee paid to secure the purchase option.
  • Rent Credits: A portion of the rent may go towards the purchase price.

Tenant Responsibilities:

  • Lease Compliance: Tenants must follow all lease terms, including any restrictions on pets or additional occupants.
  • Repairs and Maintenance: Some agreements require tenants to handle minor repairs.
  • Timely Payments: Failure to pay rent on time can void the option to buy.

Landlord Rights:

  • Contract Enforcement: Landlords can enforce all lease terms and void the agreement if violated.
  • Retain Option Fee: If the tenant decides not to buy, the landlord keeps the option fee.
  • Property Upkeep: Ensures property is maintained for future sale.

It’s essential to understand local real estate laws. In Gilbert, AZ, prospective buyers should consult with a real estate agent to navigate legal intricacies. Viewing online listings can provide insight into available for sale and rent to own properties. For more information, visit HomeLight or Nolo.

Common Pitfalls:

  • Credit Repair: Often used by those needing time to improve their credit score.
  • Eviction Risks: Violating lease terms can lead to eviction and loss of the option fee.
  • Market Fluctuations: Property value changes can affect the decision to purchase.

Understanding these facets helps both tenants and landlords make informed decisions about rent-to-own properties. By staying compliant with lease terms and seeking expert advice, one can successfully navigate these agreements.

Gilbert’s Neighborhoods and Community Life

Gilbert, Arizona boasts a variety of family-friendly communities, numerous amenities including parks and recreational facilities, and top-notch educational institutions.

Family-Friendly Communities

Gilbert is known for its planned communities that cater to families. Neighborhoods like Morrison Ranch and Agritopia offer tree-lined streets, playgrounds, and community events. Many areas feature green spaces and walking paths that make them ideal for family activities.

With a mix of single-family homes and townhouses, these communities are designed with safety and convenience in mind. Crime rates are low, and neighbors often know each other, providing a supportive environment for children and adults alike.

Amenities and Recreation

Gilbert provides numerous amenities for recreation and relaxation. The town boasts several parks, including Freestone Park and Discovery Park, which feature sports fields, fishing lakes, and picnic areas. Families can enjoy outdoor activities like biking, jogging, or exploring playgrounds.

For those seeking more structured activities, the Gilbert Community Center offers classes and programs for all ages. Golf enthusiasts can join the Seville Golf & Country Club, which also offers amenities like a swimming pool and tennis courts. Overall, there’s no shortage of recreational options.

Education and Schools

Education is a cornerstone of Gilbert’s appeal. The town is served by several highly-rated public schools, such as Higley Unified School District and Gilbert Public Schools. Many schools in the area are A-rated, and they provide modern facilities and a range of extracurricular activities.

In addition to public schools, there are also various private schools and charter schools that cater to different educational philosophies and needs. For higher education, Gilbert is near Chandler-Gilbert Community College and offers easy access to Arizona State University’s Polytechnic campus.

Children in Gilbert benefit from a robust educational system that supports academic excellence and personal growth.

Local Amenities and Lifestyle

Gilbert, AZ offers a rich variety of local amenities and a vibrant lifestyle.

Restaurants in Gilbert cater to all tastes, from casual diners to upscale eateries. Local favorites include The Keg Steakhouse + Bar and Joe’s Real BBQ.

Parks are plentiful, with Freestone Park and Gilbert Regional Park providing ample space for outdoor activities. Both parks have playgrounds, sports facilities, and fishing lakes.

Schools in Gilbert are highly rated, with options ranging from public to private institutions. Gilbert Classical Academy and Mesquite High School are well-regarded.

For healthcare, Gilbert has contemporary medical facilities. Notable hospitals include Banner Gateway Medical Center and Mercy Gilbert Medical Center, ensuring residents have access to quality medical care.

Shopping opportunities abound with retail centers like SanTan Village and Heritage District, where you can find everything from big brands to local boutiques.

Golf enthusiasts can enjoy a round at Seville Golf & Country Club or Greenfield Lakes Golf Course.

Walking Trails offer scenic routes for exercise and leisure. The Riparian Preserve at Water Ranch is a popular spot for hiking and bird watching.

Residents have many things to do. The Hale Centre Theatre offers live performances, and the Gilbert Farmers Market is a favorite weekend activity.

Gilbert’s blend of amenities and lifestyle options makes it an attractive place for families and individuals. The town’s combination of parks, schools, healthcare, and recreational options supports a high quality of life.

Employment and Economic Health in Gilbert

Gilbert, AZ, boasts a strong job market with numerous job opportunities. Technology, healthcare, and education sectors are particularly prominent. Key employers in Gilbert include Dignity Health, Banner Health, Go Daddy Software, Inc, and Isagenix International.

The town’s unemployment rate remains low compared to national averages. This low unemployment rate reflects the town’s economic stability.

Average Annual Salary

The average annual salary in Gilbert is competitive. Residents in various sectors can expect good remuneration for their work.

  • Healthcare: $80,000
  • Technology: $90,000
  • Education: $55,000

Major Employers

  • Dignity Health: Provides numerous jobs in healthcare.
  • Banner Health: Another major employer in the healthcare sector.
  • Go Daddy Software, Inc: Offers many tech-related jobs.
  • Isagenix International: A big player in the wellness industry.
  • The Town of Gilbert: Employs many residents in public administration roles.

Economic Indicators

Gilbert’s economic health is apparent through its investment in community services and infrastructure improvements. The town consistently attracts new businesses, contributing to economic growth.

In summary, Gilbert’s robust job market and strong economic indicators make it an attractive place for professionals across various sectors. The presence of major employers and competitive salaries add to the town’s appeal, fostering a thriving community.

Moving to Gilbert: Planning Your Relocation

Relocating to Gilbert, AZ can be an exciting journey. This town combines small-town charm with big-city amenities. Here are some key aspects to consider when planning your move.

Housing and Real Estate

Gilbert’s housing market is competitive. The median home value is around $370,000, which is higher than the national average. Renters can expect to pay about $1,700 per month. For those on a limited budget, rent-to-own homes offer a flexible option.

Cost of Living

The cost of living in Gilbert is higher compared to many other parts of the country. Daily expenses, including groceries and utilities, tend to be above average. However, the median household income is also high, at over $99,000.

Job Opportunities

Gilbert has a thriving job market. Key industries include healthcare, education, and retail. The town’s proximity to Phoenix also opens up many job opportunities in various sectors.


For families considering moving to Gilbert, the town boasts a range of excellent schools. There are numerous public, private, and charter schools, offering various educational programs.


Gilbert has several neighborhoods, each with unique characteristics. Whether you’re looking for family-friendly areas or places with more nightlife, there’s something for everyone.


While Gilbert does not have a comprehensive public transportation system, it’s well connected by major highways. Most residents rely on cars for their daily commute.

Utilities and Services

Setting up utilities is straightforward. Providers offer various options for electricity, water, and internet services. It’s advisable to compare rates and services to find the best deals.

Exploring these areas will help ensure a smooth relocation to Gilbert. Proper planning can make the transition easier and help you settle into your new home quickly.

Frequently Asked Questions

Finding rent to own homes in Gilbert, AZ involves understanding the options available, the processes to follow, and the factors to consider for a successful transition to homeownership. Here are common queries:

How can I find rent to own properties in Gilbert, AZ without a credit check?

Sites like HousingList sometimes feature no-credit-check homes. Additionally, contact local real estate agents who specialize in rent to own to explore listings that might suit your needs.

What are the steps to take when looking to rent to own a home directly from an owner in Gilbert, AZ?

First, find listings through HomeFinder or similar sites. Next, contact the owner to discuss terms, then arrange a viewing. Ensure a rent-to-own agreement is legally sound by consulting a real estate attorney.

What are some reputable rent to own programs available in Arizona?

Century 21 offers specialized programs like those on Century 21 Northwest Realty. Such programs often provide guidance and support throughout the process.

How can low-income families access rent to own homes in Gilbert, AZ?

Organizations and programs in Gilbert may offer assistance. Look for listings on Rent to Own Labs which sometimes feature more affordable options, or inquire with local housing authorities for support programs.

What should one consider when evaluating the pros and cons of rent to own homes in Gilbert, AZ?

Evaluate upfront costs, monthly rent, potential appreciation, and market conditions. It’s essential to analyze the financial and legal implications and weigh them against your long-term goals and immediate housing needs.

What factors determine the best areas to live in Gilbert, AZ for families interested in rent to own options?

Consider the quality of local schools, proximity to amenities, and neighborhood safety. Areas near institutions like Chandler-Gilbert Community College may offer added convenience and community resources for families.

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