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Melrose Park village, IL

ZIP 60160 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 60160

Median Home Value
$265,000
Median Rent
$1,070
Affordability Snapshot
$73,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,702/mo PITI).

20%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.1x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

20.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 60160 in Melrose Park village, IL, a household would need roughly $73,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,702. That is roughly in line with the local median household income ($64,740). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
57.3%-12% vs US avg
x
Vacancy Rate
7.0%-32% vs US avg
x
Broadband Access
87.4%+0% vs US avg
x
4+ Bedrooms
3.4%-77% vs US avg
x
Built Pre-1939
7.1%-45% vs US avg
x
Built Post-2014
0.2%-97% vs US avg
x
Rent Burden >30%
13.7%-72% vs US avg
x
Mortgage-Free
46.3%+21% vs US avg
x
$265,000
Home Value
$1,070
Rent
1957
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached42.6%
  • 1-unit attached3.3%
  • 2-9 units33.8%
  • 10+ units13.4%
  • Mobile home & other6.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$265,000
Median rent$1,070
Owner-occupied57.3%
Vacant7.0%
Price-to-income4.1x
Est. income to buy$73,000