I’m told my grandmother had one (before I was born) which was made for her by a family member. However, I don’t know if an altar is as necessary as keeping certain images visible throughout one’s home. Perhaps, a bedside table might serve nicely for whatever images are preferred, since it is private and can be used for morning and evening prayers, in particular. While a candle may not be necessary (and might be a fire hazard) - no matter where in the house, it seems that many people refrain from or don’t even consider displaying religious images at all.
I’ve read what appears to be words of Our Lord that, “I will bless every place in which a picture of My Heart shall be exposed and honored.” (I keep the Sacred Heart’s picture or statue in every room.) Same for the Infant of Prague, a Crucifix and the Blessed Mother. Thus, your entire home can become a private altar when you move from room to room with these images available all day reminding us and giving us the opportunity to pray/speak to Our Lord, the Blessed Mother and the Saints all day, everyday.