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Melrose Park, IL
Full City Profile · Illinois · Cook County County
2.9
/5.0
C+
Fair
24,513
Population
5,635/sq mi density
$64,740
Median Income
$28,664 per capita
$265,000
Home Value
$299,810 Zillow
$1,194
Median Rent
25.2% income on rent
51°F
Avg Temperature
275 sunny days/yr
298
Violent Crime/100K
1,275 property/100K
C+
Overall
2.9 / 5.0
Fair overall score based on economy, affordability, safety and education
B+
Economy
3.9 / 5.0
$64,740 median income, 3.6% unemployment
A
Affordability
4.4 / 5.0
$265,000 home value, $1,194/mo rent
F
Safety
1.0 / 5.0
298 violent crimes/100K
C
Education
2.2 / 5.0
14.7% bachelor's degree or higher
Housing Overview
Median Home Value
$265,000
6% below
US avg: $281,900
Median Rent
$1,194/mo
3% above
US avg: $1,163/mo
Homeownership Rate
57.3%
12% below US avg (65.4%)
Total Housing Units
8,739
Median year built: 1957
Home Value by Source
Census Median
$265,000
Zillow (ZHVI)
$299,810
Median Sale Price
$421,500
Median List Price
$404,950
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
57.3%
Owner-Occupied
42.7%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$774/mo
1 Bedroom
$854/mo
2 Bedroom
$1,063/mo
3 Bedroom
$1,370/mo
4 Bedroom
$1,561/mo
Census median rent:
$1,194/mo
· Zillow rent:
$1,550/mo
Market Indicators (Redfin)
Median Days on Market
94 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
8
Price Drops
7.4%
of listings with price reduction
Price Per Sq Ft
$218
Active Inventory
27
homes for sale
Affordability & Housing Stock
Rent Burden
25.2%
of renters spending 30%+ of income on housing
19% below US avg (31.0%)
Median Year Built
1957
Average age of housing stock: 69 years
Homeownership Rate
57.3%
Complete Housing Data
Home Values
| Census Median Value | $265,000 |
| Zillow Home Value (ZHVI) | $299,810 |
| Median Sale Price | $421,500 |
| Median List Price | $404,950 |
| Price Per Sq Ft | $218 |
Rent
| Census Median Rent | $1,194 |
| Zillow Rent (ZORI) | $1,550 |
| FMR Studio | $774 |
| FMR 1-Bedroom | $854 |
| FMR 2-Bedroom | $1,063 |
| FMR 3-Bedroom | $1,370 |
| FMR 4-Bedroom | $1,561 |
Market
| Days on Market | 94 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 7.4% |
| Homes Sold | 8 |
| Active Inventory | 27 |
| Price Per Sq Ft | $218 |
Ownership & Stock
| Owner-Occupied | 57.3% |
| Renter-Occupied | 42.7% |
| Homeownership Rate | 57.3% |
| Total Housing Units | 8,739 |
| Median Year Built | 1957 |
| Rent Burden | 25.2% |