What is the Alpha Score?

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The Alpha Score is a composite 0–100 index that measures a real estate market's overall strength. It blends up to five dimensions — price momentum, inventory health, affordability, economic strength, and rental yield — into one number, leaving out any dimension we cannot measure for that market and re-scaling the rest, so you can compare markets at a glance and surface emerging areas before they become obvious.

Every geography LocalAlpha tracks — metro, county, ZIP, or city — gets an Alpha Score from 0 to 100. A higher score means stronger overall market conditions for that level.

Scores are computed nightly from public government data (Census, BLS, QCEW, FHFA, FRED) together with market data from Redfin and Zillow, then percentile-ranked within the same geography level so a ZIP is compared against other ZIPs, not against a whole metro.

What is the Alpha Score?

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