Homebuyers, Don’t Give Up! Here Are the 8 Most Affordable Areas in Metro East IL To Purchase a House Right Now

Looks like the mortgage rate squeeze of 2022-2023 is causing quite a stir in the housing market. It’s like a game of ‘real estate hot potato’ – no one wants to be stuck with sky-high mortgage payments, so they’re all frantically trying to pass the potato (or house, in this case) to someone else.

But fear not dear homebuyers! There are still plenty of affordable housing areas in the Metro-East IL out there where the housing market hasn’t gone completely bonkers. You just have to be willing to broaden your horizons and consider locations that may not have been at the top of your list. And who knows, you may just find your dream home in a place you would never have expected.

So don’t give up just yet! With a little bit of luck and a lot of determination, you’ll be able to find the perfect home, even in the midst of the mortgage rate squeeze.

 

Experience the Best of Both Worlds in the St. Louis Metro East Area

If you’re considering packing up and moving to the St. Louis Metro East area, congratulations! You’re in for a real treat. Not only will you get to enjoy all the charms of small-town living, but you’ll also be just a hop, skip, and jump away from the city of St. Louis and all its urban delights.

But the best part? The affordable housing prices in the Metro East are a steal compared to the city. It’s like getting all the benefits of city living without taking out a second mortgage. Just make sure you bring your stretchy pants because the cost of living may be low, but the portions at the local diner are definitely not.

In all seriousness, the Metro East is a fantastic place to call home. With a thriving economy, rich history and culture, and a variety of affordable housing options, there’s something for everyone. So why wait? Start your new adventure in the Metro East today!

>>MORE: 10 Common Homebuyer Blunders You Must Avoid: Tips for a Successful Homebuying Journey

1. Alton | East Alton | Bethalto| Rosewood Heights, IL

Median home list price per square foot: $75
Median home list price: $95,000

Twenty-five miles north of St. Louis, MO, on the banks of the Mississippi River, is Alton, Illinois. It is here where the Mighty Mississippi, Missouri, and Illinois Rivers converge, and the national scenic roadway brings spectacular scenery as it bends along the bluffs for magnificent miles as you drive along the byway and its historic communities.

Alton is a small town with significant history, recreational opportunities, and business prospects.  Alton’s location and historical heritage make it a popular destination for touring historic areas, antique shopping, wedding venues, receptions, and honeymoons. Many housing blocks were built in the Victorian Queen Anne style and earlier architecture.

Numerous residences on the hill/bluff have sweeping views of the Mississippi River.

The city also has a number of golf courses, and the nearby Mississippi River offers many opportunities for water sports, such as kayaking and fishing.

Alton has a strong economy and a diverse range of businesses, including healthcare, manufacturing, and education, which provide various employment opportunities. The area also has a good school system and a relatively low cost of living

2. Collinsville | Maryville, IL

Median home list price per square foot: $119
Median home list price: $154,950

Collinsville is located mainly in Madison County and partially in St. Clair County. It is approximately 16 miles from downtown St. Louis and is the site of the world’s largest ketchup bottle (Brooks Catsup Bottle Water Tower), as well as the world’s horseradish capital. Known for its large ethnic Italian population, Collinsville hosts an annual Italian Fest and other festivals throughout the year.

This is where you will find Splash City Water Park and Cahokia Mounds State Historic Site.

The Village of Maryville is a neighboring adjacent town/north of Collinsville, IL. The Village has exceptional access to major roadways, with interstates 270, 255, and 55, as well as Illinois Routes 162, 157, and 159 – making, commutes quick and easy.

Beautiful 7-acre lake, Drost Park has a boat ramp, several pavilions, walking trails, barbecue grills, picnic tables, and playgrounds for enjoying nature. This community has top-rated private schools and is part of the Collinsville School District.

In summary, the Collinsville area offers a low cost of living, an affordable housing market, several parks, recreational areas, events, ample shops, restaurants, and other amenities, and historical landmarks and notable buildings.

3. Edwardsville | Glen Carbon, IL

Median home list price per square foot: $177
Median home list price: $292,500

If you are in the market for a neighborhood full of parks, amenities, highly rated schools, and close to shopping areas, then this city is for you. The county seat offers an array of housing from historical, luxury, new builds, and mature subdivisions with a small-town vibe. Just east of Interstate 255, with an estimated 30-minute drive time to downtown St. Louis, is this popular growing area.

One of the main attractions of Edwardsville is its strong housing market. The real estate market in the area has been stable in recent years, with prices trending upward. Several affordable housing options are available, including single-family homes, townhouses, and apartments.

Edwardsville is also home to Southern Illinois University Edwardsville, which gives the area a lively college-town atmosphere.

Located 19 miles northeast of St. Louis, Glen Carbon is a village in Madison County, Illinois. The Village borders the bigger town of Edwardsville. Although the Village does not have much shopping of its own, Edwardsville is within a 5-minute drive from most areas of Glen Carbon.

The Village operates 3 parks and hosts an annual Homecoming Festival and Glenfest. This community is part of the Edwardsville School District and has a long-standing tradition of excellence in academics.

Overall, Edwardsville is a great place to live, with a strong sense of community and plenty of opportunities for education, recreation, and career advancement.

4. Godfrey, IL

Median home list price per square foot: $136
Median home list price: $194,00

Godfrey is a village over 36 square miles located approximately 35 miles north of St. Louis and known for its small-town charm and friendly community. Situated on the southwestern boundary of the Village is a wall of limestone bluffs along the Mississippi River, creating scenic river views. The 300-acre John M. Olin Nature preserve, and Cora Hutchinson Bird Sanctuary are along the bluffs overlooking the Mississippi River.

The housing market in Godfrey is relatively affordable, with a median home value of around $190,000. The town has a mix of older, historic homes as well as newer construction, and there are a variety of housing options available, including single-family homes, townhouses, and apartments.

Godfrey has several parks and recreational areas, including Glazebrook Park, which features a playground, fishing pond, and walking trails. The town also has a number of sports fields and courts for soccer, baseball, basketball, and more. Additionally, the nearby Pere Marquette State Park offers opportunities for hiking, fishing, camping, and bird-watching.

Godfrey also offers a variety of shops, restaurants, and other amenities. The town has a small downtown area with a few shops and restaurants, as well as several larger retailers and grocery stores located on the outskirts of town. Additionally, Godfrey is home to Lewis and Clark Community College, which offers a variety of academic programs and recreational activities.

The town has a low cost of living, affordable housing, and a variety of outdoor recreational activities. It’s a good place to consider if you’re looking for a small town with a friendly community and a slower pace of life.

5. Granite City | Mitchell | Pontoon Beach, IL

Median home list price per square foot: $95
Median home list price: $100,00

Granite City is the 2nd largest city in the Metro East and Southern Illinois region. It is a unique community adjacent to the Mississippi River and located in an ideal location. It is just a few minutes from the action of downtown St. Louis and major interstate highways, making it perfect for commuters.

Bordering Granite City is the 2,960-acre Horseshoe Lake State Park, two eighteen-hole championship golf courses, and the city’s crown jewel, 74-acre Wilson Park. The scenic view of Downtown St. Louis and the iconic Gateway Arch is seen by many of the residents who use the trails for biking, getting outdoors, and staying active.

The Village of Pontoon Beach and Mitchell make up part of the 62040 zip code. This area tenders housing from historical, luxury, new builds, and mature subdivisions.

Overall, Granite City, Mitchell, and Pontoon Beach, IL, are good options if you are looking for an affordable place to live that is close to a major city like St. Louis, which offers a wide range of amenities and attractions.

6. Roxana | South Roxana ,IL

Median home list price per square foot: $92
Median home list price: $59,000

Roxana and South Roxana are small towns located in the southern part of Illinois, near the Mississippi River. The area is known for its rich history and natural beauty, with the nearby River providing ample opportunity for fishing and boating. The area is also home to several parks, recreational areas, and playgrounds for children.

In terms of the housing market, home prices in the area are generally considered to be affordable, making it a good option for those looking to purchase a home. The area has a mix of older, historic homes and newer construction. The town is also known for its quiet and peaceful atmosphere, making it a good option for those looking to live in a small town setting.

7. St. Jacob | Troy, IL

Median home list price per square foot: $359,274
Median home list price: $188

The City of Troy is adjacent/east of Maryville, approximately 20 minutes from downtown St. Louis, and is fantastic for those working and commuting to Scott Air Force Base. Although Troy is a growing community that sits on the crossroads of Interstates 55, 70, and 270, it offers its residents a laid back relaxing lifestyle.

Flourishing from its humble beginnings as the area’s first stagecoach stop for travelers to and from St. Louis, Troy is blossoming with luxurious family homes and a 55+ community. A thriving neighborhood paired with a private country feel has everything within reach.

Troy and St. Jacob are well known for their green spaces and nature preserves. The city of Troy is home to several well-maintained parks, including Tri-Township Park, which offers a wide range of recreational opportunities, including hiking, fishing, and swimming. and the nearby city of St. Jacob offers several nature preserves

Overall, the Troy, IL, and St. Jacob, IL area offers a good quality of life with a low cost of living, excellent schools, access to nature, and a friendly community.

8. Wood River, IL

Median home list price per square foot: $123
Median home list price: $120,000

Wood River is a city located is located just east of Alton and is considered a part of the greater St. Louis metropolitan area.

The housing market in Wood River can vary depending on the time and the specific properties that are available. However, in general, the cost of living in Wood River is lower than the national average. Housing prices are typically lower than in the surrounding area, making it an affordable place to live for those looking to buy or rent.

As for recreational options, Wood River has a number of parks for residents to enjoy. The city’s main park is Wood River Township Park, which features a variety of amenities such as playgrounds, a swimming pool, tennis courts, and a disc golf course. The park also has a number of walking trails and picnic areas. There are also other parks in the area, like East Alton Ice Arena, Olin Park, and more.

The city of Wood River has a variety of amenities that make it an attractive place to live. It has a strong sense of community, and there are many local events and activities throughout the year. There are also a number of shops, restaurants, and other businesses in the city.

In summary, Wood River is an affordable and family-friendly city that offers a variety of amenities and recreational options for residents. While it’s relatively small and not a big city, it has a sense of community, good schools, healthcare options, parks, and easy access to bigger cities like St. Louis.

Madison County, IL, housing statics as a whole

Median  Ranges:

Home list price per square foot: $120
Home list price: $162,700

Day on Market: 52
Showings until pending: 8

For around $182,000, Madison County buyers can expect a 3 bedroom, 2 bath home with approximately 1,500 to 2,000 square feet. Under 1,500 square-foot with 3 bedrooms and 1 bath are listed for close to $108,000.

As this is a median range for the county, each area will have its own median ranges.

Conclusion

In summary, the housing market in the Metro-East region of Illinois is generally considered to be affordable compared to other areas of the country, with the median home price being lower than the national average.

The St. Louis Metro East IL region is a fantastic place to put down roots, offering a delightful combination of small-town tranquility and big-city excitement. With various housing options and a more affordable cost of living compared to the city, the Metro East is a smart choice for anyone looking for a new place to call home. Plus, with a thriving economy and rich history and culture, there’s always something new to discover in this wonderful region. So why wait? Make the move to the St. Louis Metro East area today and start enjoying all the benefits it has to offer!

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