Melrose Park, IL Economy

Melrose Park, IL is a neighborhood located in the outskirts of Chicago. It is home to many companies such as Bank of America, Adobe Products, and PepsiCo. The 2 Bedroom rental cost in Melrose Park is $1,270 while the US average is $1,430. The Grocery Cost Index for Melrose Park is 96 compared to 100 for the US on average. In regards to population, Melrose Park has a total of 25,584 people residing within city boundaries according to the 2019 census.

Melrose Park has an unemployment rate of 9.0%. The US average is 6.0%.

Melrose Park has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 25.6%, which is lower than the US average of 33.5%.

Tax Rates for Melrose Park
- The Sales Tax Rate for Melrose Park is 10.5%. The US average is 7.3%.
- The Income Tax Rate for Melrose Park is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Melrose Park
- The average income of a Melrose Park resident is $18,394 a year. The US average is $28,555 a year.
- The Median household income of a Melrose Park resident is $58,871 a year. The US average is $69,021 a year.

Income by Population Percent

Economy	Melrose Park, Illinois	United States
	9	6
	-9.4%	-6.2%
	25.6%	33.5%
	10.5%	6.2%
	5.0%	4.6%
	$24,483	$37,638
	$58,871	$69,021
	$65,090	$85,028
Population by Occupation
	0.1%	1.2%
	0.0%	0.5%
	10.3%	6.8%
	20.3%	10.0%
	3.6%	2.5%
	9.4%	11.0%
	6.7%	4.8%
	0.2%	0.8%
	1.1%	1.9%
	1.8%	4.7%
	1.8%	1.9%
	2.3%	7.6%
	0.4%	0.1%
	7.4%	4.2%
	5.3%	9.3%
	9.4%	14.0%
	1.2%	2.1%
	8.5%	7.0%
	5.0%	4.8%
	5.1%	4.7%