1031 Exchange Melrose Park, Illinois

 

Surrounding submarket Area

Melrose Park, Illinois is a part of the Oak Park Submarket submarket area, and contains 3 zip codes: 60161, 60164, and 60160.

Melrose Park Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Melrose Park, IL submarket area was $1,453, which is 41.89% lower than 2014 average rent. This represents a compounded annual growth rate of 7.25%. 2019 vacancy in Melrose Park, IL was 5.10%.

The total population of the city of Melrose Park, IL has decreased 1.91% since 2010. As of 2018, the population was 24,925. The median household income of the Melrose Park was $50,647, which is 16.00% lower than the national average.

  • submarket area Oak Park Submarket
  • avg rent $1,453
  • rent growth 41.89%
  • vacancy 5.10%
  • median income $50,647
  • population (2018) 24,925
  • population growth -1.91%
  • vs. nat'l avg 16.00%
  • zip codes 60160 60161 60164

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