$1,500 Per Month
- 3 Beds
- 1 Bath
- 1,080 Sq Ft
- House for Rent
5003 Terry Dr, Alton, IL 62002
3 bedroom home for rent in Alton
Frequently Asked Questions
How much does it cost to rent a home in Godfrey, IL?
The median rent for a home in Godfrey, IL is $1,197 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Godfrey, IL?
To comfortably afford the median rent in Godfrey, IL, a household needs to earn roughly $47,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,197 per month in Godfrey, IL, renters typically need to show $3,591 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Godfrey, IL?
In Godfrey, IL, the price-to-rent ratio is 14.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Godfrey, IL are best for renting a home?
The best neighborhood for renting in Godfrey, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Hathaway Manor, Capitol Hill and Castle Point, each with its own character and price range.
