Lots & lots of friends who grew up there
Really, really pretty little town.
No really bad areas.
Gorgeous countryside around.
Nothing for young people to do.
Significant heroin issue amongst the youth.
I'm 34 & 4 of the peer group of my friends are now dead, compared to one in my peer group (all four drug related for them, none for me).
This might be why prices are cheap....
Oh & you need a car!
I'm in Stratford and cycle in and around the area a lot (indeed today, in the rather wet conditions)
Much of the post above is sadly true - Alcester had a big local authority housing development post-war - presumably to help Birmingham's bombed out areas ...
Public transport is by bus only and really limited to getting to Studley/Redditch, Brum or Stratford. Wotton Wawen station mentioned is open but not really a proposition - it's on the Stratford - Brum line (it's a "request" stop and no trains stop there on Sundays.
All that said, people who live in the "nice parts" rave about the place being great.
Studley (although in Warwickshire and Stratford District Council) is really now a suburb of Redditch (although the locals may disagree) - similar profile to Alcester.
.... BUT the cycling is FANTASTIC !
Rob