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Featured local agent — Alpha, IL
Sarah Mitchell
Compass Real Estate · Alpha, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Alpha, IL Housing Market
The last median sale price Redfin published was $105,000 (through May 2026). With 2.0 months of supply and homes going under contract in about 45 days, Alpha is a balanced market. At today's 6.66% 30-year fixed rate, 20% down on a $105,000 home is about $540/mo in principal and interest.
Key numbers for Alpha, IL
Median sale price
$105,000
Last published period
Redfin, through May 2026
Days on market
45
Average pace
Redfin, through May 2026
Active listings
2
2.0 months of supply
Redfin, through May 2026
30-yr fixed rate
6.66%
Freddie Mac weekly average
Freddie Mac via FRED, August 2026
Median household income
$75,139
Home costs 1.4x income
U.S. Census ACS, 2023
Sale-to-list ratio
87.5%
Selling below asking
Redfin, through May 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Alpha a buyer's or seller's market?
Alpha, IL is a balanced market, based on 2.0 months of supply and homes selling in about 45 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Alpha housing market data show?
Every row below is Redfin's final published month for Alpha, IL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $105,000 |
| Median list price | $164,950 |
| Median price per sq ft | $92/sq ft |
| Median days on market | 45 days |
| Active inventory | 2 listings |
| Months of supply | 2.0 months |
| Sale-to-list price ratio | 87.5% |
| Homes sold (that month) | 1 |
| New listings (that month) | 6 |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Alpha is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Alpha is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Alpha home prices moved?
Across the 28 months we hold for Alpha, IL, the median sale price rose 48.9%, from $70,500 in April 2021 to $105,000. For prices to fall meaningfully from here, supply would have to keep building past 2.0 months while the sale-to-list ratio slips below its current 87.5%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Alpha?
Priced off the median sale price of $105,000 at the current 6.66% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $21,000 | $84,000 | $540/mo |
| 5% | $5,250 | $99,750 | $641/mo |
Redfin, through May 2026 for the price · Freddie Mac via FRED, August 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $540, that implies roughly $23,135 a year before you add taxes and insurance. The median household in Alpha earns $75,139, about $52,004 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 1.4x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Alpha in the next 12 months?
Tell us your timeline. We send the Alpha market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Alpha?
Zillow does not publish a rent index (ZORI) for Alpha, IL, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Alpha?
Active listings in Alpha, IL went from 2 in July 2022 to 2 in May 2026, a +0.0% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| July 2023 | 1 | 1 |
| September 2023 | 1 | 1 |
| January 2024 | 1 | 1 |
| February 2024 | 3 | 4 |
| October 2024 | 1 | not published |
| June 2025 | 1 | 1 |
| July 2025 | 1 | 3 |
| August 2025 | 1 | not published |
| November 2025 | 2 | 1 |
| February 2026 | 2 | 1 |
| March 2026 | 2 | 1 |
| May 2026 | 2 | 6 |
Redfin, through May 2026
How does Alpha compare to Illinois and the U.S.?
Alpha homes sell for $105,000 — 69% below the Illinois median of $337,900. Against the national median of $410,700, Alpha runs 74% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Alpha, IL | $105,000 | not published | 45 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Alpha
What buyers should watch
- Months of supply, currently 2.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The gap between 5% and 20% down here is $101 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 6.66%, every full point of rate change moves the payment on a $105,000 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Alpha listing goes under contract in 45 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 87.5% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Alpha added 6 new listings against 1 sales — more competition arriving than clearing, so early timing matters.
- Comparable ZIP-level pricing inside Alpha varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Alpha
There are currently 2 homes listed for sale in Alpha, Illinois. The median listing price is $165K.
Active listings
2
Homes on market
Median list price
$165K
Avg. days on market
45
Days until sale
New this week
6
Newly listed
How much do homes cost in Alpha by property type?
How the Alpha, IL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $105,000 | $92/sq ft | 1 | 45 days |
Who lives in Alpha?
American Community Survey estimates for Alpha. U.S. Census ACS, 2023
Population
801
Households
319
Median income
$75,139/yr
Median age
43.6 years
Owner-occupied
84.6%
Median home value
$115,700
Median gross rent
$957/mo
Mean commute
20 min
84.6% of occupied homes in Alpha are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which public schools serve Alpha?
1 schools tracked · 184 students
The largest public schools serving Alpha, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
AlWood Elem School
Grades PK-5 · 184 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Alpha, IL?
Ordered by distance from Alpha, not by size. Compare Alpha side by side with any of them.
Alpha housing market FAQ
Is Alpha a buyer's or seller's market?
Alpha, IL is currently a balanced market. That read comes from 2.0 months of supply, homes going under contract in about 45 days, and sellers getting 87.5% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Alpha?
The median sale price in the last month Redfin published was $105,000, about $92 per square foot.
Is Alpha cheaper than the rest of Illinois?
Alpha's median sale price of $105,000 is 69% lower than the Illinois statewide median of $337,900, and 74% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Alpha?
Homes in Alpha, IL spent a median of 45 days on market before going under contract, versus 43 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Alpha?
At the current 30-year fixed rate of 6.66%, 20% down on a $105,000 home is about $540 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $23,135 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $75,139.
Are home prices rising in Alpha?
We do not hold a complete 12-month value series for Alpha, IL yet, so we are not going to call a direction. The price chart above shows every period we do have.
What are the cheapest ZIP codes in Alpha?
Alpha ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Alpha?
That depends on your timeline, not on a headline. What the data says today: Alpha, IL is a balanced market with 2.0 months of supply, the 30-year fixed rate is 6.66%. Properties Incorporated publishes the data; it does not give financial advice.
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