Alton, IL—62002
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Alton, IL
As of Oct '25, the median home price in Alton, IL is $114,000, with a year-over-year change of -1.8%. This indicates that home prices in Alton, IL are decreasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $114,000 | -1.8% |
| Single Family | $113,000 | -1.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $64,000 | -4.5% |
2 Bed | $89,000 | -2.2% |
3 Bed | $143,000 | 2.9% |
4 Bed | $202,000 | 3.1% |
| 5 Bed | $284,000 | 1.4% |
% of Housing Stock
Rental Trends — Alton, IL
As of July '25, Rentcast reports the average rent in Alton, IL is $1,110, with a year-over-year rent change of 4.7%. Per bedroom, the median rent as of July '25 in Alton, IL is studios: $760, 1-bedrooms: $780, 2-bedrooms: $1,040, 3-bedrooms: $1,500, 4-bedrooms: $1,800. The most common rental property sizes in Alton, IL are 2-bedroom and 1-bedroom, accounting for 42.8% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,110 |
| Studio Rent | $760 | $760 |
| 1 Bed Rent | $775 | $780 |
| 2 Bed Rent | $1,050 | $1,040 |
| 3 Bed Rent | $1,650 | $1,500 |
| 4 Bed Rent | $1,800 | $1,800 |
% of Rental Stock
Property Listings — Alton, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Alton, IL is 41. This is a increase of 5.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $125,000 | 4.0% |
Listing Count | 105 | 28.0% |
| Listings as % of Homes | 0.8% | 28.0% |
Days on Market | 41 | 5.0% |
Demographics — Alton, IL
As of the latest ACS Survey released in 2023, Alton, IL has a population of 30,000, which has decreased by -3.3% over the past 5 years. Alton, IL is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 23.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,000 | -3.3% |
% Under 18 | 21.4% | -4.9% |
% Seniors | 18.8% | 7.4% |
% WFH | 9.0% | 221.4% |
% w/ College Degree | 23.6% | 16.3% |
As of the latest ACS Survey released in 2023, Alton, IL is a predominantly white area, with 70.7% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Alton, IL is black, making up 20.3% of the population. Foreign-born residents account for 2.1% of the population in Alton, IL, and this percentage has increased by 16.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.7% | -3.2% |
% Black | 20.3% | 1.0% |
% Hispanic | 2.2% | -4.3% |
% Asian | 1.1% | 120.0% |
% Foreign Born | 2.1% | 16.7% |
Mortgage and Risk — Alton, IL
According to HUD data as of 2023, there were 484 mortgage originations in Alton, IL, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Alton, IL. Investor activity is low, as 4.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 484 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Alton, IL
As of 2024, the percent of homes in Alton, IL under the Section 8 program is 16.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Alton, IL, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,117 |
Total Units Section 8 | 783 |
% Rentals under Section 8 | 16.2% |
% Occupied Section 8 | 90.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $135 | $775 | $910 |
| 2 Bedroom | $70 | $1,050 | $1,120 |
| 3 Bedroom | -$200 | $1,650 | $1,450 |
| 4 Bedroom | -$140 | $1,800 | $1,660 |
Affordability — Alton, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.8 |
| Median Home Price | $114,000 |
| Median Household Income | $57,900 |