Mortgage Rates in Gilbert, Arizona — March 2026
Updated March 2026 | Based on Gilbert market data and regional lending conditions
Gilbert is a mid-sized city in Arizona with a population of 267,918. The current 30-year fixed mortgage rate in Gilbert is 6.67%, which is 0.02% above the national average. With a median home price of $515,000 and a 20% down payment of $103,000, homebuyers can expect a monthly principal and interest payment of approximately $2,650.
Current Mortgage Rates in Gilbert, AZ
Below are the current average mortgage rates available in the Gilbert area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.17% | 6.15% | +0.02% |
| FHA | 6.27% | 6.25% | +0.02% |
| VA | 6.07% | 6.05% | +0.02% |
| Jumbo | 6.87% | 6.85% | +0.02% |
Gilbert Housing Market Overview
The Gilbert housing market is competitive with prices well above the national median. The median household income in Gilbert is $95,908, and the cost of living index is 105.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $124,971 to comfortably afford the median-priced home in Gilbert, which exceeds the current median household income.
Monthly Payment Breakdown for Gilbert
Based on the median home price of $515,000 with 20% down ($103,000), here is what you can expect to pay monthly in Gilbert:
15-Year vs. 30-Year Mortgage in Gilbert
Choosing a 15-year mortgage in Gilbert at 5.91% instead of a 30-year at 6.67% would save you $331,740 in total interest over the life of the loan. However, your monthly payment would be $3,457 instead of $2,650 — an increase of $807 per month.
Calculate Your Gilbert Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Gilbert
What are the current mortgage rates in Gilbert, AZ?
As of March 2026, the average 30-year fixed mortgage rate in Gilbert, Arizona is 6.67%, while the 15-year fixed rate is 5.91%. FHA loans average 6.27% and VA loans 6.07%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Gilbert?
Based on the median home price of $515,000 with 20% down, the estimated monthly mortgage payment in Gilbert is $2,650 for principal and interest. Including property taxes of $266/month, the total monthly housing cost is approximately $2,916.
What income do I need to buy a home in Gilbert?
Using the 28% rule, you would need an annual income of approximately $124,971 to afford the median-priced home in Gilbert at $515,000. The median household income in Gilbert is $95,908. This means most households would need to either earn above the median or consider homes below $515,000.
Is Gilbert a good place to buy a home in 2026?
Gilbert has a moderate cost of living with a cost of living index of 105.5 (national average = 100). The property tax rate in Arizona is 0.62%, which is below the national average. Gilbert has a population of 267,918 and offers a balanced lifestyle.
Mortgage Rates in Other Arizona Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Gilbert, Arizona area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.