Alton, IL Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Alton, IL Housing Market Trends

With 26,208 people, 11,532 houses or apartments, and a median cost of homes of $82,275, house prices in Alton are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Alton, accounting for 75.81% of the city's housing units. Other types of housing that are prevalent in Alton include duplexes, homes converted to apartments or other small apartment buildings ( 11.58%), large apartment complexes or high rise apartments ( 9.61%), and a few mobile homes or trailers ( 1.69%).

People in Alton primarily live in small (one, two or no bedroom) single-family detached homes. Alton has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Alton's housing was primarily built during this period, from the '40s through the '60s. A full 47.43% of the city's housing hails from this era. Other housing ages represented in Alton include homes built before 1939 ( 31.53%) and housing constructed between 1970-1999 ( 16.77%). There's also some housing in Alton built between 2000 and later ( 4.27%).

Vacant housing appears to be an issue in Alton. Fully 16.37% of the housing stock is classified as vacant. Left unchecked, vacant Alton homes and apartments can be a drag on the real estate market, holding Alton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Alton Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Alton, where house values have increased just 12.25%, which is annualized rate of 1.16%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Alton appreciation rates have trailed the rest of the nation. In the last twelve months, Alton's appreciation rate has been 3.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Alton were at 1.33%, which equates to an annual appreciation rate of 5.43%.

Notably, Alton's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Alton's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Alton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Alton - 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 Alton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$82,275

Alton, IL HOME PRICES

> $1,071,000
0.0%
0.0%
$802,001 - $1,071,000
0.2%
0.2%
$535,001 - $802,000
0.2%
0.2%
$428,001 - $535,000
0.5%
0.5%
$321,001 - $428,000
1.4%
1.4%
$214,001 - $321,000
4.0%
4.0%
$107,001 - $214,000
24.4%
24.4%
$54,001 - $107,000
50.1%
50.1%
$0 - $54,000
19.2%
19.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for IL

Value Relative To Nation

Number Of Homes And Apartments:
11,532

Alton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
32.48% 1.33%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$981 / per month

Homeownership Rate

Owners
58.3%
58.3%
Renters
41.7%
41.7%
Vacant
16.4%
16.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.3%
4.3%
1970 - 1999
16.8%
16.8%
1940 - 1969
47.4%
47.4%
1939 or Older
31.5%
31.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.8%
75.8%
Townhomes
1.3%
1.3%
Small Apt. Buildings
11.6%
11.6%
Apt. Complexes
9.6%
9.6%
Mobile Homes
1.7%
1.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.9%
2.9%
1 Bedroom
12.6%
12.6%
2 Bedrooms
40.3%
40.3%
3 Bedrooms
33.1%
33.1%
4 Bedrooms
9.1%
9.1%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES