Home Insurance in Melrose Park, Illinois
With a median home value of $275,800, Melrose Park is 15% lower than the Cook County median.
The typical home in Melrose Park was built around 1956. About 60% of homes were built before 1960, about 11 points above Cook County's 49%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Melrose Park, the housing stock is 44% single-family homes, 22% apartments in buildings with 5+ units and 6% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Melrose Park, about 53% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 57% of occupied homes in Melrose Park are owner-occupied.
In Melrose Park, 89% of homes are primarily heated with natural gas.
FEMA rates Cook County's overall risk as Very High, led by winter weather (Very High). Cook County had 11,554 active NFIP flood policies as of September 2026. See the full Cook County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Illinois carries a statewide average premium of $1,480 per year.
Key figures
| Median home value | $275,800 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 57% |
| Share of owner-occupied homes with a mortgage | 53% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Cook County | 11,554 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)