The story of this market
The typical home in ZIP 62002 sells for about $122,174, or $85 per square foot.
Prices are up +3.9% from a year ago, so sellers still have some momentum. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $996 a month.
ZIP 62002 — Alton
The 62002 housing market remains a low-cost, local-operator environment where pricing reflects the challenges of aging housing stock and regional economic headwinds. While home values have seen modest year-over-year growth, the market is characterized by high maintenance requirements and a need for disciplined investment strategies. Current data indicates a stable but cautious outlook for both buyers and investors.
This ZIP is best suited for disciplined local investors and budget-conscious buyers who prioritize affordability over modern amenities, as the market requires active management and deep local knowledge.
Median prices moved up 3.9% year over year.
Homes spend a median of 68 days on market with 4.2 months of supply — a balanced-paced market.
18% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.2% · poverty 18.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 62002
Crime rates in Alton are higher than the national average, with property and violent crime trends remaining a primary concern for local law enforcement compared to safer suburban counterparts in the St. Louis metro area.
Public schools in the area generally receive mixed ratings, with many institutions facing challenges in standardized testing performance and resource allocation compared to higher-performing districts in the region.
The area faces moderate flood risks due to its proximity to the Mississippi River, and property insurance premiums are influenced by regional wind and storm exposure common to the Midwest.
Economic momentum is driven by healthcare, manufacturing, and retail sectors, though the area faces challenges with aging infrastructure and a need for significant reinvestment to attract new corporate anchors.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Commuters typically rely on the Great River Road and Illinois Route 140 for access to the St. Louis employment core, with average commute times around 18-20 minutes.
The area features significant outdoor amenities including the Mississippi River waterfront, Gordon Moore Park, and various historic trails, alongside local shopping districts in downtown Alton.
The rental market is characterized by high demand for affordable units, with vacancy pressures remaining low; however, investors must account for significant maintenance costs in older properties.
The local economy is anchored by healthcare services, regional manufacturing, and retail, with a heavy reliance on the broader St. Louis metro labor market.
Transportation is primarily highway-dependent, with limited public transit options connecting the area to the St. Louis metropolitan transit network.
Development is largely focused on small-scale commercial infill and historic building rehabilitation within the downtown corridor.
The Madison County assessment office utilizes a mass appraisal system to determine property values, with periodic reassessments to align with market trends.
Parcels are subject to various levies including school districts, community college districts, and local fire protection districts.
Property insurance markets are stable but sensitive to regional weather patterns, with premiums reflecting the age of housing stock and flood zone proximity.
Net domestic migration has been relatively flat, with a slight trend of residents moving toward more suburban areas within the county.
Illinois is a judicial foreclosure state, requiring court intervention which typically extends the timeline for the foreclosure process.
Sellers are required to provide a residential real property disclosure report detailing known material defects at the time of sale.
Data retrieved from census.gov ZCTA 62002 profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Large community park with sports fields and walking trails.
Historic riverfront area with dining and recreational access.
Regional retail hub serving the surrounding communities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.