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Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.

Melrose Park, IL Rental Market Trends

Highlights

The average rent for an apartment in Melrose Park is $884, a 13% increase compared to the previous year, when the average rent was $779.

Average Rent in Melrose Park, IL

Last updated March 2021
Average Rent Y-o-Y Change Average Apartment Size
$884 13% 661 sq. ft.

The average size for a Melrose Park, IL apartment is 661 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

Melrose Park, IL Apartment Rent Ranges

  • $501-$7008%
  • $701-$1,00076%
  • $1,001-$1,50016%

Melrose Park, IL Occupied Housing Units

  • Renter-occupied Households30%
  • Owner-occupied Households69%

2,383 or 30% of the households in Melrose Park, IL are renter-occupied while 5,505 or 69% are owner-occupied.

Melrose Park, IL Rent Trends

Average Rent Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Mar / 2021
Melrose Park, IL $776 $776 $781 $794 $800 $779 $865 $803 $884
National $1,311 $1,342 $1,351 $1,356 $1,388 $1,395 $1,397 $1,389 $1,392
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Access comprehensive real estate data and information on Yardi Matrix

How Melrose Park Compares to Other Cities

Average Rent Y-o-Y Change
Chicago $1,809 -7%
Oak Park $1,880 n/a
Evanston $1,953 -1%
Naperville $1,521 2%
Aurora $1,334 1%
Kenosha $1,067 3%
Des Plaines $1,439 3%
Elgin $1,196 9%
Joliet $1,052 6%
Lombard $1,526 -1%
Melrose Park $884 13%

For more information about the Melrose Park rental trends, check out our monthly rent report

Check out Illinois Cities, Illinois Neighborhoods and Illinois Zip Codes for more details on verified listings, including the Illinois Average Rent.

Curious about listings in your area? Check out our apartments near you for more details!

The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Melrose Park apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.