Olney Springs, CO
Population 550 · Colorado
About Olney Springs, CO
Olney Springs is a small community located in Colorado with a population of 550 residents according to the latest US Census Bureau American Community Survey data. The median household income is $52,031 per year, which is 31% below the national median of $75,149. The median age of 33.3 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Olney Springs features a median home value of $98,700, which is 60% below the national median of $244,900. This makes Olney Springs one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $975, 16% below the national average of $1,163/month. Of the 170 total housing units, 80% are owner-occupied (106 units) and 20% are renter-occupied (27 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Olney Springs shows an unemployment rate of 5.1%, which is near the national rate of 3.7%. The poverty rate stands at 18.2%, above the national average of 12.4%. Workers in Olney Springs have an average one-way commute time of 36.7 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
12.7% of Olney Springs residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 34.9% White, 10.2% Hispanic or Latino, 0.0% Black or African American, and 7.8% Asian residents, with 0.0% of the population being foreign-born.
How Olney Springs Ranks in Colorado
Cost of Living in Olney Springs, CO
Compared to national averages, Olney Springs has a median household income of $52,031 (31% below the national median of $75,149). Home values average $98,700, which is 60% below the national median. Monthly rent at $975 is 16% below the US average of $1,163. Within Colorado, Olney Springs's income is 41% below the state average of $88,514, and home values are 78% below the state median of $457,127.
Why Live in Olney Springs, CO?
Olney Springs offers affordable housing with a median home value of $98,700, below the US average of $244,900, and rent that’s lower than the national average at $975/month.
Potential considerations include median household income ($52,031) that falls below the national average. However, Olney Springs’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Olney Springs has a population of 550 with a median age of 33.3 years. Compare Olney Springs with other cities to see how it stacks up, or explore all cities in Colorado.
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Cities in Colorado with a similar population size.
Demographics
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Economy & Education
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Other Cities in Colorado
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Olney Springs
What is the population of Olney Springs, CO?
The population of Olney Springs, CO is 550 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Colorado.
What is the median household income in Olney Springs?
The median household income in Olney Springs, CO is $52,031 per year, which is 31% below the national median of $75,149.
What is the median home value in Olney Springs?
The median home value in Olney Springs, CO is $98,700, which is 60% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Olney Springs?
The median monthly rent in Olney Springs, CO is $975, which is 16% below the national average of $1,163/month.
What is the unemployment rate in Olney Springs?
The unemployment rate in Olney Springs, CO is 5.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Olney Springs, CO a good place to live?
Olney Springs offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 550 and a median age of 33.3, the city appeals to young professionals and families.
How educated is Olney Springs, CO?
12.7% of residents in Olney Springs aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Olney Springs?
Key cost-of-living indicators for Olney Springs, CO: median home value is $98,700 (60% below national), median rent is $975/month, and median household income is $52,031. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Olney Springs?
The poverty rate in Olney Springs, CO is 18.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Olney Springs, CO?
Olney Springs's population is 34.9% White, 10.2% Hispanic or Latino, 0.0% Black or African American, 7.8% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.