Alton, IL 62002 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Alton, IL—62002

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$113,000

1.1% YoY Growth

Household Income

$57,900

33.3% YoY Growth

Days on Market

8.0% Shorter YoY

Home Price Forecast

1.4%

Median Rent

$1,000

4.7% YoY Growth

1-Bed Rent

$775

8.0% YoY Growth

2-Bed Rent

$1,050

0.0% YoY Growth

3-Bed Rent

$1,650

13.6% YoY Growth

Home Price Trends — Alton, IL

As of Dec '25, the median home price in Alton, IL is $113,000, with a year-over-year change of -1.1%. This indicates that home prices in Alton, IL are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$113,000	-1.1%
Single Family	$113,000	0.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.9%

1 Bedroom

25.9%

2 Bedrooms

42.8%

3 Bedrooms

20.6%

4 Bedrooms

5.6%

5+ Bedrooms

2.1%

Property Listings — Alton, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Alton, IL is 43. This is a increase of 3.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$130,000	-9.0%
Listing Count	111	12.0%
Listings as % of Homes	0.8%	12.0%
Days on Market	47	-8.0%

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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%

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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%

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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%

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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

Alton, IL—62002

Key Metrics at a Glance

Home Price Trends — Alton, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Alton, IL

% of Rental Stock

Property Listings — Alton, IL

Demographics — Alton, IL

Race and Ethnicity

Mortgage and Risk — Alton, IL

Mortgages

Rentals and Section 8 — Alton, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Alton, IL

Home Price to Income Ratio

Alton, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Cottage Hills, IL

East Alton, IL

Bethalto, IL

Wood River, IL

Brighton, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.8
Median Home Price	$113,000
Median Household Income	$57,900

Alton, IL—62002

Key Metrics at a Glance

Home Price Trends — Alton, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Alton, IL

% of Rental Stock

Property Listings — Alton, IL

Demographics — Alton, IL

Race and Ethnicity

Mortgage and Risk — Alton, IL

Mortgages

Rentals and Section 8 — Alton, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Alton, IL

Home Price to Income Ratio

Alton, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Cottage Hills, IL

East Alton, IL

Bethalto, IL

Wood River, IL

Brighton, IL

Frequently Asked Questions

What is the average home price in Alton, IL 62002?

How have home prices in Alton, IL 62002 changed over the past year?

What is the home price projection for Alton, IL 62002?

What are the demographics of Alton, IL 62002?

How long does it take homes to sell in Alton, IL 62002?

What is the average rent price in Alton, IL 62002?