Gilbert, Arizona is the top-ranking city in the study for the affordability category. It has the highest under-45 homeownership rate (69.76%), the 63rd-lowest down payment-to-income ratio (0.70), the sixth-lowest housing costs as a percentage of income (19.25%) and 22nd-lowest effective property tax rate (0.60%) overall. Gilbert also ranks well in the category of home market favorability. Across all three metrics in that category – price-to-rent ratio, five-year home value appreciation and foreclosure rate – Gilbert ranks in the top half of cities.
