Rent in Melrose Park, IL
Across Melrose Park's 3 ZIP codes, a 2-bedroom typically rents for about $1,451 a month, with figures from $1,197–$2,011. The highest typical rent is in 60161 ($1,980) and the lowest in 60160 ($1,419). Owner-occupied homes in Cook County pay about 1.91% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,137 | $903–$1,678 | 3 |
| 1 bed | $1,234 | $983–$1,780 | 3 |
| 2 beds | $1,451 | $1,197–$2,011 | 3 |
| 3 beds | $1,812 | $1,339–$2,586 | 3 |
| 4 beds | $2,308 | $1,682–$2,954 | 3 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Melrose Park ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Melrose Park, IL?
- About $1,451 a month: the median of the typical rents in 3 ZIP codes, which range from $1,197–$2,011. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Melrose Park, IL?
- About $1,234 a month: the median of the typical rents in 3 ZIP codes, which range from $983–$1,780. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Melrose Park, IL?
- About $1,812 a month: the median of the typical rents in 3 ZIP codes, which range from $1,339–$2,586. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Melrose Park, IL?
- About $1,137 a month: the median of the typical rents in 3 ZIP codes, which range from $903–$1,678. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Melrose Park, IL?
- About $2,308 a month: the median of the typical rents in 3 ZIP codes, which range from $1,682–$2,954. Figures are gross rent (rent plus tenant-paid utilities).
- Which Melrose Park ZIP code has the highest rent?
- For a 2-bedroom, 60161 has the highest typical rent at $1,980 a month, and 60160 the lowest at $1,419.
- What is the property tax rate in Melrose Park, IL?
- Owner-occupied homes in Cook County pay a typical 1.91% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Melrose Park rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).