Alton, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Alton, IL Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Alton Housing Market Information

With 27,003 people, 11,817 houses or apartments, and a median cost of homes of $86,283, 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 73.13% 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 ( 12.77%), large apartment complexes or high rise apartments ( 9.98%), and a few mobile homes or trailers ( 2.55%).

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 45.12% of the city's housing hails from this era. Other housing ages represented in Alton include homes built before 1939 ( 35.95%) and housing constructed between 1970-1999 ( 16.46%). There's also some housing in Alton built between 2000 and later ( 2.47%).

Vacant housing appears to be an issue in Alton. Fully 14.25% 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

Real estate appreciation rates in Alton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.37% during the period.

NeighborhoodScout's data show that during the latest twelve months, Alton's appreciation rate, at 5.00%, has been at or slightly above the national average. In the latest quarter, Alton's appreciation rate has been 1.03%, which annualizes to a rate of 4.19%.

Relative to Illinois, our data show that Alton's latest annual appreciation rate is higher than 80% 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:
$86,283

Alton, IL HOME PRICES

Value Range
> $1,081,000 0.1
$811,001 - $1,081,000 0.0
$540,001 - $811,000 0.4
$432,001 - $540,000 0.4
$324,001 - $432,000 1.1
$216,001 - $324,000 3.5
$108,001 - $216,000 26.0
$54,001 - $108,000 48.6
$0 - $54,000 20.0

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
86.5815070901207 83.1645569620253

Number Of Homes And Apartments:
11,817

Alton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
28.45% 1.46% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$927 / per month

Homeownership Rate

Homeownership
Owners 59.54
Renters 40.46
Vacant 14.25

Housing Market Details

 

Age of Homes

AGE OF Alton HOMES
2000 or Newer 2.5
1970 - 1999 16.5
1940 - 1969 45.1
1939 or Older 36.0

Types of Homes

TYPE OF Alton HOMES
Single-Family 73.1
Townhomes 1.6
Small Apt. Buildings 12.8
Apt. Complexes 10.0
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Alton HOMES
No Bedroom 2.19
1 Bedroom 13.05
2 Bedrooms 40.99
3 Bedrooms 33.20
4 Bedrooms 8.74
5 or more bedrooms 1.84