Cost of Living and Housing in Melrose Park, Illinois

Melrose Park has about 24,549 residents. Median gross rent is $1,176 per month and median household income is $66,189.

Comparison scope: “dataset median” below means the median among 1,211 cities across 10 states in this dataset. It is not presented as a nationwide Census median. The figures use 2020-2024 ACS 5-Year estimates and may lag current listings.

Median Gross Rent $1,176/mo 29% below the dataset median

Median Home Value $275,800 26% below the dataset median

Median Household Income $66,189 21% below the dataset median

Owner-Occupied Homes 57% Share of occupied housing units

Rent-to-Income Baseline 21% Annual median rent ÷ household income

Home Value-to-Income 4.2x Median value ÷ household income

How Melrose Park compares

Rent is 29% below the dataset median, while household income is 21% below the dataset median. Within Illinois, Melrose Park ranks #32 from lowest to highest rent and #93 from highest to lowest household income among 123 cities in this dataset.

The rent-to-income figure compares two citywide medians. It is useful for broad comparison, but it is not an individual household budget or a measure of renter cost burden.

Similar-size cities in Illinois

Frequently asked questions

What is the median rent in Melrose Park?

Median gross rent is $1,176 per month in the 2020-2024 ACS 5-Year estimates.

What is the median home value in Melrose Park?

The median value of owner-occupied homes is $275,800 in the 2020-2024 ACS 5-Year estimates.

What is the median household income?

Median household income in Melrose Park is $66,189 per year.

Source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database refreshed 2026-07-11.