85297, Gilbert, AZ

Gilbert, Arizona is a city located in the Phoenix metropolitan area. The 85297 zip code covers much of Gilbert, including most of the city's downtown area. As of July 2016, the median home value in this zip code was $245,000. This is a decrease from the median home value of $269,900 in July 2015.

The reason for this decrease is unknown but could be due to a number of factors including market saturation and low interest rates. In any case, Gilbert remains one of the more expensive areas to live in Arizona and home equity remains an important asset for many residents.

Another important factor affecting home prices in Gilbert is the availability of housing. There are not as many homes available for sale as there are people looking to buy them which has led to increased prices and higher demand. Additionally, there has been an increase in development within Gilbert over recent years which has added more homes to the market but at a higher price point than what was available previously.