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.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.80% |
| One Bedroom | 19.20% |
| Two Bedrooms | 35.60% |
| Three Bedrooms | 32.20% |
| Four Bedrooms | 7.50% |
| Five Bedrooms or more | 2.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 3.16 |
| Median year structure was built | 1955 |
| Median Value of occupied units | $154,600 |
| Median Price asked for vacant units | $163,600 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.85 |
| Median year structure was built | 1959 |
| Median Monthly Rent asked for vacant units | $491 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 5% |
| Home Equity Loan | 4.60% |
| Simple Mortgage | 52.60% |
| Debt Free | 37.50% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 21.6% |
