What is the population of Olney city?

Olney city has 8,864 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #244 of 1,462 in Illinois.

What is the median household income in Olney city?

Median household income in Olney city is $57,997 a year, 26.2% below the national figure of $78,538.

How much does it cost to rent or buy in Olney city?

Median gross rent is $769 a month and the median home value is $96,900, so rent absorbs about 15.9% of median household income.

Is Olney city affordable compared with the rest of the US?

Homes cost about 1.7× the local median income here versus roughly 3.9× nationally, so Olney city is more affordable to buy in than the typical US market, and rent takes 15.9% of median income against the 30% cost-burden line.

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Illinois · Census place 55912

Olney, IL population, income and ZIP codes

Quick answer

The population of the city of Olney, Illinois (Olney, IL — Census place “Olney city”) is 8,864 residents, ranking #244 of 1462 places in Illinois. Median household income is $57,997, the median home is worth $96,900 and median gross rent runs $769 a month. Looking for the Olney Illinois ZIP code list? 1 ZIP codes serve Olney, IL: 62450.

Population: 8,864Olney city residents
Median household income: $57,997Past 12 months, inflation adjusted
Median home value: $96,900Owner-occupied units
Median gross rent: $769Rent plus utilities, monthly
Median age: 40.7 yrsAll residents
Homeownership rate: 65.6%Owner-occupied households

Olney ZIP codes (Illinois)

Census ZCTAs whose delivery area overlaps Olney.

The Olney IL ZIP code list below covers 1 ZIP code. Open any one for its population, income, housing and rent profile.

62450

What the numbers mean in Olney city

Housing cost measured against local earnings.

A household earning the Olney city median would spend about 15.9% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.7× the median household income; nationally that ratio sits near 4.5×. Poverty affects 15.4% of residents and 65.6% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

Olney city, IL in context

How this area compares with national benchmarks.

Olney city is a mid-size town in Illinois, with 8,864 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #244 of 1,462 ranked by population — larger than 83% of them. The median age here is 40.7 years against 39.1 nationally, a slightly older profile than the country as a whole. Places under 65,000 residents only appear in the five-year release, never the one-year file, so these values pool sixty months of responses and lag the current year by design.

Households in Olney city earn a median of $57,997 a year, 26.2% below the national figure of $78,538 and 22% below the $74,244 median for the 698 Illinois cities we cover. This figure covers the household, not the worker: two people on ordinary wages at one address outrank a single professional in the same table. Poverty reaches 15.4% of residents here, above the 12.4% national rate.

The typical owner-occupied home in Olney city is valued at $96,900, 68.1% below the national figure and 46% below the $179,100 peer median, while median gross rent runs $769 a month, 45.3% below the national figure, or roughly $9,228 across a full year. A household on the local median income would put about 15.9% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 1.7×, against roughly 3.9× nationally, so purchase prices are unusually low against local pay, the pattern in places where supply is plentiful and wage growth has been flat. 65.6% of occupied homes are owner-occupied versus 65% nationally, so the market leans toward owners. Rent is reported gross — contract rent plus tenant-paid utilities — which is why it runs above the advertised price on a listing for the same unit.

No figure on this page is estimated by us; each one comes straight from the published ACS tables for this area. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.

Compare with nearby places

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Frequently asked questions

Common questions about this area.

What is the population of Olney city?: Olney city has 8,864 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #244 of 1,462 in Illinois.
What is the median household income in Olney city?: Median household income in Olney city is $57,997 a year, 26.2% below the national figure of $78,538.
How much does it cost to rent or buy in Olney city?: Median gross rent is $769 a month and the median home value is $96,900, so rent absorbs about 15.9% of median household income.
Is Olney city affordable compared with the rest of the US?: Homes cost about 1.7× the local median income here versus roughly 3.9× nationally, so Olney city is more affordable to buy in than the typical US market, and rent takes 15.9% of median income against the 30% cost-burden line.
How current is this Olney city data?: All figures come from the US Census Bureau American Community Survey 2019-2023 ACS 5-year five-year estimates. Places under 65,000 residents only appear in the five-year release, never the one-year file, so these values pool sixty months of responses and lag the current year by design.