Melrose Park, IL
Population 24,513 · Illinois
About Melrose Park, IL
Melrose Park is a mid-sized city located in Illinois with a population of 24,513 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,740 per year, which is 14% below the national median of $75,149. The median age of 35 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Melrose Park features a median home value of $265,000, which is 8% above the national median of $244,900. This positions Melrose Park in a moderately priced market relative to the rest of the country. Median monthly rent is $1,194, 3% above the national average of $1,163/month. Of the 8,947 total housing units, 57% are owner-occupied (4,768 units) and 43% are renter-occupied (3,553 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Melrose Park shows an unemployment rate of 5.5%, which is near the national rate of 3.7%. The poverty rate stands at 10.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Melrose Park have an average one-way commute time of 28.1 minutes.
Education & Demographics
14.7% of Melrose Park residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 62.5% White, 1.5% Hispanic or Latino, 8.2% Black or African American, and 5.5% Asian residents, with 34.1% of the population being foreign-born.
Cost of Living in Melrose Park, IL
Compared to national averages, Melrose Park has a median household income of $64,740 (14% below the national median of $75,149). Home values average $265,000, which is 8% above the national median. Monthly rent at $1,194 is 3% above the US average of $1,163. Within Illinois, Melrose Park's income is 14% below the state average of $75,072, and home values are 60% above the state median of $165,779.
Why Live in Melrose Park, IL?
Melrose Park offers a low poverty rate of 10.4%, better than the national average.
Potential considerations include median household income ($64,740) that falls below the national average. However, Melrose Park’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Melrose Park has a population of 24,513 with a median age of 35 years. Compare Melrose Park with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Melrose Park
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Belvidere | 24,510 | $62,462 | $153,100 | Compare |
| Homer Glen | 24,516 | $128,546 | $400,000 | Compare |
| Zion | 24,466 | $62,574 | $179,100 | Compare |
| Kankakee | 24,384 | $45,119 | $105,500 | Compare |
| Morton Grove | 24,687 | $106,078 | $377,000 | Compare |
| Westmont | 24,201 | $83,622 | $369,100 | Compare |
| Collinsville | 24,126 | $65,170 | $157,700 | Compare |
| South Elgin | 23,984 | $123,744 | $296,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Melrose Park With Other Cities
Frequently Asked Questions about Melrose Park
What is the population of Melrose Park, IL?
The population of Melrose Park, IL is 24,513 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Melrose Park?
The median household income in Melrose Park, IL is $64,740 per year, which is 14% below the national median of $75,149.
What is the median home value in Melrose Park?
The median home value in Melrose Park, IL is $265,000, which is 8% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Melrose Park?
The median monthly rent in Melrose Park, IL is $1,194, which is 3% above the national average of $1,163/month.
What is the unemployment rate in Melrose Park?
The unemployment rate in Melrose Park, IL is 5.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Melrose Park, IL a good place to live?
Melrose Park offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 24,513 and a median age of 35, the city appeals to a broad range of residents.
How educated is Melrose Park, IL?
14.7% of residents in Melrose Park aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Melrose Park?
Key cost-of-living indicators for Melrose Park, IL: median home value is $265,000 (8% above national), median rent is $1,194/month, and median household income is $64,740. The home-value-to-income ratio is 4.1x, a moderate figure by national standards.
What is the poverty rate in Melrose Park?
The poverty rate in Melrose Park, IL is 10.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Melrose Park, IL?
Melrose Park's population is 62.5% White, 1.5% Hispanic or Latino, 8.2% Black or African American, 5.5% Asian, and 3.7% two or more races. 34.1% of residents are foreign-born.