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Median Home Price in Melrose Park, IL

The median home value in Melrose Park, IL is $326,590 as of 2026-07-31, up 5.5% from a year earlier.

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Median Home Value

$326,590

Year-over-Year

+5.5%

Population

23,327

Melrose Park ranks #133 of 279 Illinois cities tracked here by median home value, and sits 2.4% above the state's city median of $319,026. It sits in Cook County, where the county-wide median is $344,339.

Housing affordability in Melrose Park

Median household income in Melrose Park is $66,189, so the typical home value is about 4.9× annual household income. This is a simple price-to-income benchmark rather than a monthly payment estimate; it does not account for mortgage rates, down payments, taxes or insurance.

Household income comes from the U.S. Census Bureau's ACS 5-Year Estimates, table B19013 (how the affordability measure works).

Crime in Melrose Park

Melrose Park police recorded a violent crime rate of 304 per 100,000 residents in 2024 — around the middle of the range for reporting cities. Property crime runs at 1,770 per 100,000.

Reported by the city's own police department to the FBI's Uniform Crime Reporting Program (what this covers).

Common questions about Melrose Park

What is the average home price in Melrose Park, IL?

People often call this an average home price, but the figure shown here is Zillow's typical home value (ZHVI), not a simple arithmetic average. In Melrose Park, that value is $326,590. That's up 5.5% from a year earlier. It is about 2.4% above the typical Illinois city tracked here.

Is Melrose Park expensive compared to the surrounding area?

Homes in Melrose Park are cheaper than Cook County as a whole, where the median is $344,339 — a difference of about 5.2%.

Is Melrose Park affordable?

Median household income here is $66,189, so the typical home value is about 4.9× annual household income. This ratio is a broad comparison measure, not a mortgage-payment estimate.

Is Melrose Park a safe place to live?

Melrose Park police reported 304 violent crimes per 100,000 residents, covering a population of about 23,327. Crime rates are one input among many — they vary block to block within a city, and this figure is a citywide average.