Alton, Illinois Housing Market Prices
Alton Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 14% below the Illinois median$128,419
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Median rent 20% below the Illinois median$1,025
Housing Market Overview
| Metric | Alton | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,419 | $149,936 | $248,835 |
| Price Trend (Annual %) | 16.1% | 2.5% | 7.5% |
| Median Gross Rent | $1,025 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Alton is about 14% lower than in Illinois. Rent is about 20% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Alton, up about 16.1% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Alton rose about 39.9% between 2015 and 2024, from $733 to $1,025. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Alton.
Buying the median-priced home in Alton costs roughly 10.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Alton. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Alton | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,419 | $149,936 | $248,835 |
| Median Household Income | $56,750 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Alton rose about 99.6%, while median household income rose about 34.7% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Alton | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.7% | 61.9% | 58.5% |
| Rental Rate | 32.3% | 30.4% | 31.2% |
| Vacancy Rate | 14.0% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Alton has a homeownership rate of 53.7%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 14.0%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Alton | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1952 | 1969 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Alton was built around 1952. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Alton, Illinois.
What is the median home price in Alton, Illinois?
The median home price in Alton, Illinois is $128,419, lower than the Illinois average of $149,936.
What is the average home price in Alton, Illinois?
The typical home price in Alton, Illinois, reported as the median sale price, is $128,419. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Alton, Illinois?
The median gross rent in Alton, Illinois is $1,025 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Alton in 2020?
In 2020, the median gross rent in Alton, Illinois was $812 per month.
What is the price-to-rent ratio in Alton, Illinois?
The price-to-rent ratio in Alton, Illinois is about 10.4, meaning it would take roughly 10.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Alton.
Are home prices or rent rising faster in Alton, Illinois?
Both home prices and rent are rising in Alton, up about 16.1% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Alton, Illinois?
53.7% of households in Alton, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Alton, Illinois?
The housing vacancy rate in Alton, Illinois is 14.0%, higher than the Illinois average of 7.7%.
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