Housing in Melrose Park, IL
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$440,000
Median List Price
$350,000
Price Per Sq Ft
$229
Days on Market
95
Active Inventory
26
Months of Supply
8.7
Buyer's market
Zillow Home Value
$295,350
ZHVI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
0.0%
Off Market in 2 Weeks
12.5%
Sale-to-List Ratio
96.6%
Buyer's market
Market Activity
Source: RedfinHomes Sold
3
New Listings
5
Pending Sales
8
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$229
Median List $/SF
$261
Melrose Park vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with 10,000 - 25,000 residents. Melrose Park is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$265,000
Median Rent
$1,194
Total Housing Units
8,947
Vacancy Rate
7.0%
Owner Occupied
57.3%
Renter Occupied
42.7%
Median Property Tax
$5,660
per year
Monthly Cost (w/ Mortgage)
$1,250
Housing Types
The current median sale price in Melrose Park, IL is $440,000 according to Redfin data. Homes spend a median of 95 days on the market. 0.0% of homes sold above asking price. The market has 8.7 months of supply. The median price per square foot is $229. The median rent is $1,194 per month (Census ACS). About 57.3% of housing units are owner-occupied. The median year homes were built is 1957. There are 8,947 total housing units.