House Prices

House Prices & Home Values Melrose Park, IL 2026


Average Data

average house price$258,918
average size per house1549 ft²
average price per ft²168 $ / ft²

04/17/2026 - The value range (VR) for house prices in Melrose Park, IL is $154/ sqft to $171/ sqft. An average home with 1549 sqft costs approximately $238,546 to $264,879. Melrose Park, IL includes 2 ZIP codes and it is located in Cook county. The lowest prices are found in ZIP 60164, while the highest are in ZIP 60160. The average price per sqare feet is $168. Our analysis is based on 29 property listings.

Avergage prices by ZIP codes Melrose Park

60160172 $ / ft²
60164150 $ / ft²




Historical development of home values in Melrose Park

Year Estimated value (USD) Change vs. 2025
2010 $120,246 -53.6%
2011 $115,596 -55.4%
2012 $115,285 -55.5%
2013 $119,594 -53.8%
2014 $125,541 -51.5%
2015 $131,984 -49.0%
2016 $138,872 -46.4%
2017 $146,367 -43.5%
2018 $154,459 -40.3%
2019 $161,621 -37.6%
2020 $169,976 -34.4%
2021 $193,330 -25.3%
2022 $225,379 -13.0%
2023 $237,673 -8.2%
2024 $251,423 -2.9%
2025 $258,918 0.0%

Graph: estimated home values in Melrose Park over time (USD)



Example: 100% financing house in Melrose Park

Loan amount: $258,918

Interest rate: 6.00%

Fixed monthly payment: $1,552.34

Breakdown in the 1st month:
Interest portion: $1,294.59  –  Principal portion: $257.75

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $15,448.59 $3,179.54 $255,738.46
2 $15,252.48 $3,375.65 $252,362.81
3 $15,044.28 $3,583.85 $248,778.95
4 $14,823.23 $3,804.90 $244,974.05
5 $14,588.56 $4,039.58 $240,934.48
6 $14,339.40 $4,288.73 $236,645.75
7 $14,074.88 $4,553.25 $232,092.51
8 $13,794.05 $4,834.08 $227,258.42
9 $13,495.89 $5,132.24 $222,126.19
10 $13,179.35 $5,448.78 $216,677.41
11 $12,843.28 $5,784.85 $210,892.55
12 $12,486.48 $6,141.65 $204,750.91
13 $12,107.68 $6,520.45 $198,230.46
14 $11,705.51 $6,922.62 $191,307.84
15 $11,278.54 $7,349.59 $183,958.25
16 $10,825.23 $7,802.90 $176,155.35
17 $10,343.97 $8,284.16 $167,871.19
18 $9,833.02 $8,795.11 $159,076.08
19 $9,290.56 $9,337.57 $149,738.50
20 $8,714.63 $9,913.50 $139,825.01
21 $8,103.19 $10,524.94 $129,300.07
22 $7,454.04 $11,174.09 $118,125.97
23 $6,764.84 $11,863.29 $106,262.69
24 $6,033.14 $12,594.99 $93,667.70
25 $5,256.31 $13,371.82 $80,295.88
26 $4,431.57 $14,196.57 $66,099.31
27 $3,555.95 $15,072.18 $51,027.13
28 $2,626.33 $16,001.80 $35,025.34
29 $1,639.38 $16,988.75 $18,036.58
30 $591.55 $18,036.58 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Melrose Park, IL


1500 sqft3900 sqft
Ø selling price$304,920$648,648
Ø fast selling$277,200$583,784
Ø high price sale$332,640$713,513

In 2026, houses in Melrose Park, IL will be offered at an average price of $168 per square foot. A 1,500 sqft home priced at $304,920 is 23.07% more expensive per square foot than a 3,900 sqft home priced at $648,648. Home prices in Melrose Park, IL vary significantly depending on the neighborhood and location. For a quick sale, a 2,700 sqft home should be listed at around $449,065. Sellers who can wait longer may achieve a higher price of up to $548,857.


Explore Melrose Park, IL

Location & Overview

Melrose Park, IL is a vibrant Chicago suburb in Cook County known for its welcoming neighborhoods and convenient access to the city.
This historic village blends suburban comfort with urban amenities and a strong sense of community.

Transportation & Access

Commuters benefit from the Metra Milwaukee District West Line at the Melrose Park station and quick connections to I-290, I-294, North Avenue (IL-64), Lake Street (US-20), and Mannheim Road (US-12/45).
Proximity to O?Hare International Airport and Pace bus routes makes regional travel simple for residents and visitors.

Lifestyle, Events & Things to Do

Local favorites and things to do in Melrose Park, IL include the long-running Taste of Melrose Park festival, neighborhood parks, and family-friendly recreation.
Dining ranges from classic Italian eateries to modern taquerias, reflecting the area?s Italian-American heritage and growing Latino culture.
Nearby entertainment, shopping at Winston Plaza, and access to forest preserves offer plenty of weekend options.

Economy, Schools & Housing

The local economy features a mix of industrial corridors, small businesses, and retail that provide steady jobs close to home.
Students are served by Proviso Township High Schools and nearby Triton College in River Grove, while several parochial and elementary schools support younger learners.
Housing in Melrose Park, IL ranges from classic bungalows to multifamily options, delivering attainable real estate for first-time buyers and growing families.



FAQ – Home Values in Melrose Park

What is the median home value in Melrose Park in 2026?

In 2026, the typical home value in Melrose Park is about $258,918 for an average home size of 1549 square feet. This corresponds to an average price of roughly $168 per square foot.

What is the average cost per square foot in Melrose Park?

In 2026, homes in Melrose Park sell for an average of around $168 per square foot, with a typical range between $154 and $171 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in ?

The average home size in Melrose Park is about 1549 square feet, with an estimated 2026 value around $258,918.



Locations close to Melrose Park, IL

Stone Park, IL154 $ / ft²
Hoffman Estates, IL114 $ / ft²
River Grove, IL178 $ / ft²
Berkeley, IL183 $ / ft²
Hillside, IL123 $ / ft²
Medinah, IL170 $ / ft²
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