Living in Olney, Illinois
Cost of living, income, home prices, rent and demographics of Olney · Census data 2020–2024
Olney has 8,577 residents with a median age of 41. The median household income is $59,980 (28% lower than the Illinois median), the median home value is $99,800, the median rent is $809/month.
Olney at a glance
- Population
- 8,577
- Median age
- 41State: 39
- Median household income
- $59,980State: $83,390
- Median home value
- $99,800State: $263,300
- Median rent
- $809/moState: $1,274
- Homeowners
- 65.4%
- Bachelor's degree or higher
- 21.2%
- Average commute
- 17 min
Is Olney a good place to live?
Pros: Home values 62% lower than the state median; an average commute of 17 minutes; unemployment of 4.7%.
Cons: Median household income 28% lower than the Illinois median; a poverty rate of 14.2%.
The weather is best in May and August to October.
Cost of living in Olney
Housing is the biggest part of the cost of living. In Olney the median home value is $99,800, 70% lower than the U.S. median. Renters pay a median of $809 per month, which is 29.8% of household income. Homeowners with a mortgage pay $1,092 a month in housing costs.
Olney median household income
The median household income in Olney is $59,980 and the income per person is $32,779. 14.2% of residents live below the poverty line (Illinois: 11.8%).
Housing in Olney: homes for sale and rent
- Housing units
- 4,153
- Owner-occupied
- 65.4%
- Renter-occupied
- 34.6%
- Vacant
- 13.3%Includes seasonal homes
- Median year built
- 1968
- Average household size
- 2.30
Olney demographics
- Population
- 8,577
- Median age
- 41
- Under 18
- 23.8%
- 65 and older
- 21.6%
- Households
- 3,599
- Foreign-born
- 2.3%
- Veterans
- 9%Adults 18+
Hispanic or Latino can be of any race. Population history of Olney ›
Education in Olney
21.2% of adults 25 and older in Olney have a bachelor's degree or higher (Illinois: 37.8%), and 7.9% have a graduate or professional degree.
Jobs and commute in Olney
- Unemployment rate
- 4.7%State: 5.8%
- Average commute
- 17 minState: 28 min
- Work from home
- 5%
- Drive alone
- 80.7%
- Public transit
- 0%
- Walk to work
- 2.3%
- Homes with broadband
- 87.4%
Olney vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Olney | 8,577 | $59,980 | $99,800 | $809 |
| Calhoun | 227 | $76,250 | $53,400 | — |
| Claremont | 195 | $36,591 | $50,000 | $833 |
| Noble | 649 | $57,143 | $58,500 | $511 |
| Parkersburg | 237 | $42,917 | $54,000 | — |
| Sumner | 2,252 | $55,625 | $46,000 | $738 |
| Ste. Marie | 281 | $86,250 | $102,400 | $283 |
| Clay City | 723 | $53,472 | $83,200 | $610 |
| West Salem | 713 | $49,821 | $74,600 | $811 |
More for people moving to Olney
Olney ZIP code ›Weather and climate ›Living in Olney: FAQ
What is the median household income in Olney, IL?
The median household income in Olney is $59,980, 28% lower than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Olney?
The median home value in Olney is $99,800, compared with $263,300 in Illinois.
How much is rent in Olney?
The median gross rent in Olney is $809 per month, about 29.8% of household income.
Is Olney, IL a good place to live?
Pluses: home values 62% lower than the state median; an average commute of 17 minutes; unemployment of 4.7%. Minuses: median household income 28% lower than the Illinois median; a poverty rate of 14.2%.
What is the median age in Olney?
The median age in Olney is 41 years (Illinois: 39).
How long is the commute in Olney?
The average commute to work in Olney is 17 minutes; 5% of workers work from home.
What is the unemployment rate in Olney?
The unemployment rate in Olney is 4.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Olney?
21.2% of adults in Olney have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: