Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 58,005 people, 16,969 houses or apartments, and a median cost of homes of $1,168,841, real estate costs in Gilroy are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Gilroy, accounting for 71.69% of the city's housing units. Other types of housing that are prevalent in Gilroy include large apartment complexes or high rise apartments ( 13.93%), duplexes, homes converted to apartments or other small apartment buildings ( 6.51%), and a few row houses and other attached homes ( 6.05%).
The most prevalent building size and type in Gilroy are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.97% owning and 37.03% renting.
There is a lot of housing in Gilroy built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Gilroy built between 2000 and later ( 33.41%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.71%). There's also some housing in Gilroy built before 1939 ( 5.15%).
Appreciation rates for homes in Gilroy have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 115.85%, which ranks in the top 30% nationwide. This equates to an annual average Gilroy house appreciation rate of 8.00%.
Over the last year, Gilroy appreciation rates have trailed the rest of the nation. In the last twelve months, Gilroy's appreciation rate has been 4.28%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gilroy were at 2.16%, which equates to an annual appreciation rate of 8.94%.
Relative to California, our data show that Gilroy's latest annual appreciation rate is lower than 60% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Gilroy differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gilroy - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Gilroy real estate investment or home purchase decisions.
$1,168,841
for California
for nation
16,969
$3,782 / per month