Melrose Park, IL housing market
The typical Melrose Park home is worth about $324,000, up 6.1% in a year, 9% above the Illinois typical home. Homes typically sell in 95 days, below asking.
Home values, sales, trends and how Melrose Park compares with the towns next door — updated as new data is published.
Melrose Park at a glance
A seller's market
Supply is tight — about 2.1 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Melrose Park | Illinois |
|---|---|---|
| 2017 | $192,000 | $181,000 |
| 2018 | $205,000 | $190,000 |
| 2019 | $211,000 | $195,000 |
| 2020 | $219,000 | $200,000 |
| 2021 | $238,000 | $215,000 |
| 2022 | $266,000 | $236,000 |
| 2023 | $275,000 | $248,000 |
| 2024 | $289,000 | $263,000 |
| 2025 | $304,000 | $278,000 |
| 2026 | $309,000 | $290,000 |
| August 2026 | $324,000 | $298,000 |
Melrose Park and its neighbors
| Town | Typical value | 1-yr change | Days on market | Median income |
|---|---|---|---|---|
| Melrose Park | $324K | +6.1% | 95 | $66,189 |
| Stone Park | $272K | +5.8% | — | $67,224 |
| Northlake | $312K | +4.6% | — | $83,892 |
| River Grove | $325K | +7.7% | 49 | $69,858 |
| Franklin Park | $325K | +6.9% | 43 | $76,519 |
| Maywood | $264K | +8.7% | 53 | $68,815 |
| Bellwood | $261K | +6% | 77 | $79,513 |
4.9 years of income
The typical Melrose Park home costs about 4.9 years of the town's median household income, more than across Illinois (3.6 years).
How Melrose Park ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
Recent listings in Melrose Park
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Listings link to their publishers.