Housing costs in Melrose Park?
A typical home costs
$275,500, which is 18.5% less expensive than the national average of
$338,100 and 14.0% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Melrose Park costs
$1,250 per month, which is 0.8% cheaper than the national average of
$1,260 and 12.0% cheaper than the state average of
$1,400.
Can I afford Melrose Park?
To live comfortably in Melrose Park (zip 60160), Illinois, a minimum annual income of
$52,920 for a family, and
$43,600 for a single person is recommended.
What does A.I. say about Melrose Park?
The cost of living in Melrose Park, IL (zip code 60160) is quite affordable compared to many other places throughout the country. The median home value is $123,800 which is much lower than the national average. Renters pay an average of $1,040 per month for a one-bedroom apartment and utility costs are low when comparing them with other places. Property taxes are also relatively low at approximately 1.82% of assessed fair market value. Overall, Melrose Park is a very affordable place to live with plenty of amenities and job opportunities nearby.