Melrose Park, IL Rental Market Trends
Highlights
The average rent for an apartment in Melrose Park is $781, a 2% increase compared to the previous year, when the average rent was $767.
Average Rent in Melrose Park, IL
Last updated Jun 2019
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $781 | 2% | 667 sq. ft. |
The average size for a Melrose Park, IL apartment is 667 square feet, but this number varies greatly depending on apartment type. 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-$1,00092%
Melrose Park, IL Rent Trends
| Average Rent | Jan / 2016 | May / 2016 | Sept / 2016 | Jan / 2017 | May / 2017 | Sept / 2017 | Jan / 2018 | May / 2018 | Jun / 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Melrose Park, IL | $731 | $731 | $742 | $752 | $783 | $767 | $776 | $776 | $781 |
| National | $1,290 | $1,319 | $1,334 | $1,329 | $1,354 | $1,366 | $1,366 | $1,381 | $1,396 |
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How Does Melrose Park Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Chicago | $1,893 | 5% |
| Oak Park | $1,854 | 4% |
| Evanston | $1,880 | 1% |
| Skokie | $1,530 | -1% |
| Arlington Heights | $1,443 | 1% |
| Matteson | $1,787 | 2% |
| Riverdale | $775 | 4% |
| Calumet City | $865 | n/a |
| Park Forest | $1,070 | 8% |
| Richton Park | $1,091 | 14% |
| Melrose Park | $781 | 2% |
For more information about the Melrose Park rental trends, check out our monthly rent report
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.