Market Overview
Home Prices in Altamont, IL
The median home value in Altamont, IL is $171,755 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.6% compared to a year ago and up 3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Altamont are priced58% below average. Altamont is part of the Effingham, IL metro area.
Over the past five years, Altamont home values have risen by approximately29.0%, reflecting strong long-term appreciation in this market.
Price History
Altamont Home Price Trend
City Comparison
Altamont vs. National Median
At $171,755, homes in Altamont cost 58% below the national median of $410,000. This makes Altamont a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Altamont?
20% Down Payment
$34,351
on $171,755
Monthly P&I
$896/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,138/mo
incl. taxes & insurance
Income Needed
$45,520
gross annual (30% rule)
10% Down Option
$17,176
+ PMI applies
Loan Amount (20% dn)
$137,404
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Altamont, IL?
The median home value in Altamont is $171,755 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.6% year-over-year.
How much have home prices changed in Altamont?
Over the past year, home values in Altamont have increased by 6.6%. Over five years, prices have risen approximately 29.0%.
How much do I need to earn to buy a home in Altamont?
To comfortably afford the median home price of $171,755 with a 20% down payment ($34,351) at today's rates (6.8%), you'd need a gross annual income of approximately $45,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Altamont compare to the national average home price?
The national median home value is approximately $410,000. At $171,755, homes in Altamont are 58% below the national average.
What metro area is Altamont part of?
Altamont is part of the Effingham, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.