Lake Villa, IL vs Melrose Park, IL

Melrose Park is moderately more affordable than Lake Villa, with a 13% lower cost of living index. Lake Villa scores 106 compared to 94 for Melrose Park, where the US average is 100. This difference means residents of Lake Villa can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Lake Villa is $1,430/month compared to $1,194/month in Melrose Park — a 20% difference. Home values follow the same pattern: Melrose Park is more affordable at $265,000 median vs $325,900.

Median household income in Lake Villa is $111,110 compared to $64,740 in Melrose Park (+71.6%). While Lake Villa is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lake Villa spend roughly 15.4% of their income on rent, less than the 22.1% in Melrose Park.

Climate-wise, Melrose Park is notably warmer with an average of 51.3°F compared to 48.3°F in Lake Villa. Melrose Park receives more rainfall at 37.9" per year compared to 35.3" in Lake Villa.