Home prices
The cost of the median home in Melrose Park is $192,000. It is roughly $29,220 (17%) higher in comparison to its nearby areas.Compared to the rest of the nation it is roughly $25,500 (11%) lower, and compared to the city of Chicago it is about $66,000 (25%) lower.
Rents
In Melrose Park the median monthly rent is $995. It is approximately $17 (1%) lower compared to its surrounding areas.In comparison to the nation as a whole it is approximately $67 (6%) lower, and compared to the city of Chicago it is approximately $117 (10%) lower.
Nearby places
Stone Park
Stone Park is Melrose Park's neighbor to the west. Housing prices there are significantly less expensive. The median home in Stone Park costs $118,500, which is $73,500 (62%) lower than Melrose Park. Rents there are somewhat more expensive. The median rent in Stone Park is $1,099 a month, which is $104 (9%) higher than Melrose Park.
Bellwood
Bellwood is Melrose Park's neighbor to the south. Its housing prices are somewhat less expensive. The median home in Bellwood is valued at $151,200, which comes out to $40,800 (26%) lower than Melrose Park. Rents there are a little more expensive. In Bellwood the median monthly rent is $1,068, which comes out to $73 (6%) higher than Melrose Park.
Maywood
Maywood is Melrose Park's neighbor to the southeast. Housing prices there are somewhat less expensive. Maywood's median home price is $151,300, which comes out to $40,700 (26%) lower than Melrose Park. Rent there is similar. The median rent in Maywood is $965 a month, which comes out to $30 (3%) lower than Melrose Park.
River Grove
River Grove is Melrose Park's neighbor to the northeast. Its real estate prices are a bit more expensive. River Grove's median home value is $211,200, which is $19,200 (9%) higher than Melrose Park. The rent there is pretty similar. River Grove's median monthly rent is $972, which is $23 (2%) lower than Melrose Park.
Northlake
Northlake is Melrose Park's neighbor to the northwest. The real estate prices there are a little less expensive. The median home in Northlake costs $181,700, which works out to $10,300 (5%) lower than Melrose Park. The rent there is similar. Northlake's median rent is $958 a month, which is $37 (3%) lower than Melrose Park.
