Real Estate Investing in Alton, Illinois (62002)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62002 (Alton, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 12.2% of homes vacant — above national norms.
What’s happening in Alton, IL (62002)?
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Market Analysis: 62002 Alton
The 62002 ZIP in Alton, IL is a local-operator market. Outside capital chasing a $120K entry has to pair deep knowledge with the discount.
On the rental side, the numbers look inviting — $120K purchase price, 0.0% nominal cap — the work to hit that pro forma in 62002 is substantial and deserves full respect.
Regionally, 62002 sits on the difficult end of the IL spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 62002 includes headwinds that any investor should price in. Income distribution skews lower than Alton averages, and tenant stability requires active management.
The right play in 62002 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Alton:
Property Strategy for 62002
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $64,212 | $950 | 10.7% | +7.1% | $64,212 |
| 2BR | $89,051 | $1,160 | 9.4% | +7.2% | $44,525 |
| 3BR | $142,628 | $1,490 | 7.5% | +6.8% | $47,543 |
| 4BR | $201,568 | $1,730 | 6.2% | +6.4% | $50,392 |
| 5BR | $283,606 | — | — | +5.9% | $56,721 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 62002 Compare?
| Metric | 62002 | Alton | St. Louis, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $120,090 | $120,090 | N/A | $279,761 |
| 5-Year CAGR | 3.6% | 3.6% | N/A | 6.6% |
| Avg Rent | $981 | $981 | N/A | - |
| Cap Rate | 6.4% | 6.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62002 (Alton, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $120,090 |
| Monthly Rent | $981 |
| Price-to-Rent | 10.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.8% |
| Cap Rate | 6.4% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +8.1% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +3.6% ▲ |
| 10-Year CAGR | +4.6% ▲ |
🏠 Rent Trends
| 1-Year | -4.6% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.4%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 62002
Population: 30,036
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 62002
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,909 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the median home value in Alton, IL?
Typical homes in Alton, IL go for around $120K. The 5-year CAGR of 0.0% stable price movement.
Are renters plentiful in Alton, IL?
Working renters make up the core of the Alton, IL tenant base. The pool is reasonable for investors targeting long-term holds.
What is the smart move for investors in Alton, IL?
Most investors in Alton, IL run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Is Alton, IL a good market for buy-and-hold investors?
Investors tracking Alton, IL will find a 3.0/5 rating supported by $120K median home values and $981/mo rents. That profile suits long-term holders targeting steady returns.
Does Alton, IL favor landlords or tenants?
Rental owners in Alton, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 62002 now. You don’t know where it ranks.
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How 62002 ranks in St. Louis, MO-IL
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