Land and home values in Melrose Park, IL
Melrose Park is a village in Cook County, Illinois, home to about 24,549 people. Residential land runs about $7.72 per sq ft, the typical home is worth about $325,000, and a 2-bedroom rents for about $1,590 a month, as of October 12, 2026.
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| Land: residential | $7.72 | per sq ft |
| Land: residential | $336,109 | per acre |
| Land: quarter-acre lot | $84,027 | 10,890 sq ft |
| Home: typical (median) | $325,000 | value |
| Home: entry-level | $263,000 | lower quartile |
| Home: upper-end | $386,000 | upper quartile |
| Build new | $194 | per sq ft, no land |
| Rent: 1-bedroom | $1,400 | per month |
| Rent: 2-bedroom | $1,590 | per month |
| Rent: 3-bedroom | $2,040 | per month |
| Rent: 4-bedroom | $2,350 | per month |
| Gross yield, 2-bed | 5.9% | a year |
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Questions people ask
How much is land worth in Melrose Park, IL?
Residential land in Melrose Park, IL is about $7.72 per square foot, or $336,109 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $84,027. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Melrose Park, IL?
The typical (median) home in Melrose Park, IL is worth about $325,000, with entry-level homes around $263,000 and upper-end homes around $386,000, as of October 2026.
How much is rent in Melrose Park, IL?
A 2-bedroom rents for about $1,590 a month in Melrose Park, IL, a 1-bedroom about $1,400 and a 3-bedroom about $2,040 (gross rent including utilities, HUD Fair Market Rent basis).
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.