Real Estate Investing in Melrose Park, Illinois (60160)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60160 (Melrose Park, IL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Melrose Park, IL (60160)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60160 Melrose Park
Investors eyeing 60160 need to respect the fundamentals at play. Home values of $330K come alongside slower price movement and elevated management overhead.
For an experienced owner, 60160 can be a a credible choice for hunting ground — but the discount at $330K reflects genuine risk that outside investors often underestimate.
Within IL, ZIP 60160 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and notable enough to shape underwriting.
A substantial renter share of 45% in 60160 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 60160 is an operator game, not a passive one. From an investor standpoint, entry prices of $330K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Melrose Park:
Property Strategy for 60160
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $261,981 | $1,520 | 4.2% | +8.0% | $130,991 |
| 3BR | $309,958 | $1,960 | 4.6% | +7.1% | $103,319 |
| 4BR | $357,504 | $2,260 | 4.6% | +7.9% | $89,376 |
| 5BR | $359,276 | — | — | +5.7% | $71,855 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60160 Compare?
| Metric | 60160 | Melrose Park | Illinois |
|---|---|---|---|
| Home Value | $330,324 | $330,324 | $279,761 |
| 5-Year CAGR | 4.0% | 4.0% | 6.6% |
| Avg Rent | $1,417 | $1,417 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60160 (Melrose Park, IL). Anonymous, moderated, never written by AI.
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Property managers serving Cook County
Manage rentals here? List your business →American Property Management of Illinois, Inc. (Associa) provides comprehensive HOA and condominium management services in Chicago and surrounding areas. summary from their website
Blackhawk Realty Management, LLC provides professional property management and real estate services for its multifamily apartment portfolio, founded in 2004. summary from their website
Buckingham Property Management, Inc. offers apartment rentals and management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $330,324 |
| Monthly Rent | $1,417 |
| Price-to-Rent | 19.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | +8.7% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +4.0% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60160
Population: 24,513
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60160
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Irving Middle School
J W Riley Intermediate School
Jefferson Primary School
Lincoln Elem School
Mannheim Middle School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,713 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Melrose Park, IL stack up for property investment?
Melrose Park, IL clocks in at an investability rating of 3.0/5, with median home values near $330K and average rents around $1,417/mo. That combination puts it in the resilient tier for investor interest.
What price range are homes in Melrose Park, IL?
The median home value in Melrose Park, IL is roughly $330K. That puts it reasonable relative to the IL statewide average.
Is Melrose Park, IL better for rentals, flips, or BRRRR?
For Melrose Park, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is the typical vacancy rate in Melrose Park, IL?
Melrose Park, IL vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Melrose Park, IL landlord-friendly?
IL ranks as a landlord-friendly state for landlord-tenant law. Melrose Park generally follows the statewide framework, so landlords face reasonable operating rules.
You know 60160 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60160 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 60160 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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