Olivet, IL
Population 156 · Illinois
About Olivet, IL
Olivet is a small community located in Illinois with a population of 156 residents according to the latest US Census Bureau American Community Survey data. The median household income is $0 per year, which is 100% below the national median of $75,149. The median age of 37.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Olivet features a median home value of $129,500, which is 47% below the national median of $244,900. This makes Olivet one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 112 total housing units, 75% are owner-occupied (57 units) and 25% are renter-occupied (19 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Olivet shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 14.9%, above the national average of 12.4%. Workers in Olivet have an average one-way commute time of 28.7 minutes.
Education & Demographics
26.5% of Olivet residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 21.2% White, 4.5% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Olivet, IL
Compared to national averages, Olivet has a median household income of $0 (100% below the national median of $75,149). Home values average $129,500, which is 47% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Olivet's income is 100% below the state average of $75,072, and home values are 22% below the state median of $165,779.
Why Live in Olivet, IL?
Olivet offers affordable housing with a median home value of $129,500, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%.
Potential considerations include median household income ($0) that falls below the national average. However, Olivet’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Olivet has a population of 156 with a median age of 37.5 years. Compare Olivet with other cities to see how it stacks up, or explore all cities in Illinois.
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Demographics
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Economy & Education
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Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Olivet
What is the population of Olivet, IL?
The population of Olivet, IL is 156 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Olivet?
The median household income in Olivet, IL is $0 per year, which is 100% below the national median of $75,149.
What is the median home value in Olivet?
The median home value in Olivet, IL is $129,500, which is 47% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Olivet?
The median monthly rent in Olivet, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Olivet?
The unemployment rate in Olivet, IL is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Olivet, IL a good place to live?
Olivet offers a moderate cost of living, affordable housing, and a strong job market. With a population of 156 and a median age of 37.5, the city appeals to a broad range of residents.
How educated is Olivet, IL?
26.5% of residents in Olivet 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 Olivet?
Key cost-of-living indicators for Olivet, IL: median home value is $129,500 (47% below national), median rent is $0/month, and median household income is $0. The home-value-to-income ratio is Infinityx, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Olivet?
The poverty rate in Olivet, IL is 14.9%, 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 Olivet, IL?
Olivet's population is 21.2% White, 4.5% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.6% two or more races. 0.0% of residents are foreign-born.