Mount Olive, IL
Population 1,979 · Illinois
About Mount Olive, IL
Mount Olive is a small town located in Illinois with a population of 1,979 residents according to the latest US Census Bureau American Community Survey data. The median household income is $55,139 per year, which is 27% below the national median of $75,149. The median age of 50.6 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Mount Olive features a median home value of $96,600, which is 61% below the national median of $244,900. This makes Mount Olive one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $698, 40% below the national average of $1,163/month. Of the 1,057 total housing units, 74% are owner-occupied (672 units) and 26% are renter-occupied (236 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Mount Olive shows an unemployment rate of 5.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 14.8%, above the national average of 12.4%. Workers in Mount Olive have an average one-way commute time of 27.4 minutes.
Education & Demographics
14.2% of Mount Olive 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 0.4% White, 2.1% Hispanic or Latino, 0.2% Black or African American, and 0.0% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Mount Olive, IL
Compared to national averages, Mount Olive has a median household income of $55,139 (27% below the national median of $75,149). Home values average $96,600, which is 61% below the national median. Monthly rent at $698 is 40% below the US average of $1,163. Within Illinois, Mount Olive's income is 27% below the state average of $75,072, and home values are 42% below the state median of $165,779.
Why Live in Mount Olive, IL?
Mount Olive offers affordable housing with a median home value of $96,600, below the US average of $244,900, and rent that’s lower than the national average at $698/month.
Potential considerations include median household income ($55,139) that falls below the national average. However, Mount Olive’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Mount Olive has a population of 1,979 with a median age of 50.6 years. Compare Mount Olive with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Mount Olive
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lake of the Woods | 1,976 | $69,054 | $194,300 | Compare |
| Roanoke | 1,987 | $74,141 | $139,800 | Compare |
| Channel Lake | 1,988 | $63,958 | $210,400 | Compare |
| Farmington | 1,990 | $64,313 | $99,300 | Compare |
| Prairie Grove | 1,992 | $138,229 | $439,100 | Compare |
| Crystal Lawns | 1,965 | $109,415 | $234,600 | Compare |
| Port Byron | 1,959 | $101,250 | $259,300 | Compare |
| Farmer City | 2,001 | $73,147 | $128,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Mount Olive With Other Cities
Frequently Asked Questions about Mount Olive
What is the population of Mount Olive, IL?
The population of Mount Olive, IL is 1,979 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Mount Olive?
The median household income in Mount Olive, IL is $55,139 per year, which is 27% below the national median of $75,149.
What is the median home value in Mount Olive?
The median home value in Mount Olive, IL is $96,600, which is 61% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Mount Olive?
The median monthly rent in Mount Olive, IL is $698, which is 40% below the national average of $1,163/month.
What is the unemployment rate in Mount Olive?
The unemployment rate in Mount Olive, IL is 5.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Mount Olive, IL a good place to live?
Mount Olive offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,979 and a median age of 50.6, the city appeals to established professionals and retirees.
How educated is Mount Olive, IL?
14.2% of residents in Mount Olive 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 Mount Olive?
Key cost-of-living indicators for Mount Olive, IL: median home value is $96,600 (61% below national), median rent is $698/month, and median household income is $55,139. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Mount Olive?
The poverty rate in Mount Olive, IL is 14.8%, 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 Mount Olive, IL?
Mount Olive's population is 0.4% White, 2.1% Hispanic or Latino, 0.2% Black or African American, 0.0% Asian, and 1.0% two or more races. 1.0% of residents are foreign-born.