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Advertise here →Melrose Park, IL · Market Data
Melrose Park, Illinois real estate market data.
Real estate market data for Melrose Park, IL (Cook County) — Census median home value $265,000, county listing prices up about 2.2% over the past year.
Melrose Park, IL is in Cook County, Illinois — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 24,513, with a median household income of $64,740. Census data puts Melrose Park's median home value at $265,000 (all owner-occupied homes); Cook County's current median listing price runs $352,450, up about 2.2% over the past year.
At a glance
Melrose Park market snapshot
Population
24,513
Median Household Income
$64,740
Median Home Value (city)
$265,000
Median Listing Price (Cook County)
$352,450
Median Gross Rent
$1,194/mo
Price Trend (YoY)
+2.2%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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What makes Melrose Park different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Melrose Park's median home value — across all owner-occupied homes, not just recent sales — at $265,000. Separately, Cook County's current median listing price (via Realtor.com data, 2026-06-01) runs $352,450. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Cook County's FHFA house price index shows a 5.52% annual change in 2025.
Population & Income
Melrose Park has an estimated population of 24,513 and a median household income of $64,740, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Melrose Park's Census-reported median home value works out to about 4.1x the area's median household income, and median gross rent runs roughly 22% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Melrose Park FAQ
What are home values like in Melrose Park, IL?
The Census Bureau's American Community Survey puts Melrose Park's median home value at $265,000. Cook County's current median listing price runs $352,450, up about 2.2% over the past year.
What is the population of Melrose Park, IL?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Melrose Park's population at approximately 24,513.
What's the median rent in Melrose Park, IL?
The Census ACS estimates median gross rent in Melrose Park at approximately $1,194 per month.
What is the median household income in Melrose Park, IL?
Census ACS data puts the median household income in Melrose Park at approximately $64,740.
Is the Melrose Park housing market growing?
Cook County's FHFA house price index shows a 5.52% annual change in 2025.
Is Melrose Park, IL affordable relative to income?
Census ACS data puts Melrose Park's median home value at about 4.1 times the median household income, with median gross rent equal to roughly 22% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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