Real Estate Investing in East Alton, Illinois (62024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62024 (East Alton, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.5% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in East Alton, IL (62024)?
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Market Analysis: 62024 East Alton
This part of Madison County is not an easy win. The 62024 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
In practical terms, the numbers look inviting — $135K purchase price, 0.0% nominal cap — the work to hit that pro forma in 62024 is substantial and deserves full respect.
Nearby ZIPs in East Alton have seen price recovery that 62024 has not matched. Madison County data supports the view that the spread is structural rather than temporary.
Demographically, 62024 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 62024 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 East Alton:
Property Strategy for 62024
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $101,190 | $990 | 7.0% | +8.5% | $50,595 |
| 3BR | $140,876 | $1,270 | 6.5% | +7.2% | $46,959 |
| 4BR | $138,364 | $1,480 | 7.7% | +6.2% | $34,591 |
| 5BR | $177,301 | — | — | +5.8% | $35,460 |
Market Trends
Home Value History (with trend line)
📊 How Does 62024 Compare?
| Metric | 62024 | East Alton | St. Louis, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $135,193 | $135,193 | N/A | $279,761 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 6.6% |
| Avg Rent | $891 | $891 | N/A | - |
| Cap Rate | 5.1% | 5.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62024 (East Alton, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $135,193 |
| Monthly Rent | $891 |
| Price-to-Rent | 12.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.9% |
| Cap Rate | 5.1% |
| 5-Year IRR | 11.4% |
📈 Home Appreciation
| 1-Year | +10.9% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 62024
Population: 9,465
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 62024
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Lewis-Clark Elem School
East Alton-Wood River High Sch
Lewis-Clark Jr High School
L&C Elementary/Region III
L&C Middle School/Region III
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 it like being a landlord in East Alton, IL?
IL law landlord-friendly for landlords, and East Alton inherits those rules. Investors should still review local ordinances for rental licensing.
Is East Alton in IL worth investing in?
Investors tracking East Alton, IL will find a 3.0/5 rating supported by $135K median home values and $891/mo rents. That profile suits long-term holders targeting steady returns.
What is the typical home price in East Alton, IL?
In East Alton, IL the median home value sits at $135K. Against the broader IL market, that reads as reasonable for most investors.
Can I live-in-and-rent in East Alton, IL?
House hacking in East Alton, IL is a challenging. With home values around $135K and rents at $891/mo, owner-occupants can offset a meaningful share of PITI.
Are tenants stable in East Alton, IL?
East Alton, IL draws a measured base of working renters. Demand at the $891/mo rent level is reasonable for standard single-family and small multi rentals.
You know 62024 now. You don’t know where it ranks.
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How 62024 ranks in St. Louis, MO-IL
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