Melrose Park, IL Real Estate

According to census data in the year 2000 there were 7,950 housing units in Melrose Park. This represents a 1.4% growth from 7,843 in 1990.

Of those housing units, 7,950 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Melrose Park is about 54.6%. Melrose Park's vacancy rate, including seasonal lodging, is about 3.6%. Average household size is 3.02 people.

The majority of houses, apartments or condos in Melrose Park were built after 1956.


Housing Size

Housing Units by Size
Studio Type2.80%
One Bedroom19.20%
Two Bedrooms35.60%
Three Bedrooms32.20%
Four Bedrooms7.50%
Five Bedrooms or more2.70%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size3.16
Median year structure was built1955
Median Value of occupied units$154,600
Median Price asked for vacant units$163,600

Rented Homes, Apartments and Condos

Average Household Size2.85
Median year structure was built1959
Median Monthly Rent asked for vacant units$491

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.30%
Second Mortgage5%
Home Equity Loan4.60%
Simple Mortgage52.60%
Debt Free37.50%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs21.6%