Olmsted, IL
Population 257 · Illinois
About Olmsted, IL
Olmsted is a small community located in Illinois with a population of 257 residents according to the latest US Census Bureau American Community Survey data. The median household income is $34,375 per year, which is 54% below the national median of $75,149. The median age of 57.4 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 Olmsted features a median home value of $0, which is 100% below the national median of $244,900. This makes Olmsted one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $775, 33% below the national average of $1,163/month. Of the 130 total housing units, 71% are owner-occupied (64 units) and 29% are renter-occupied (26 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Olmsted 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 16.0%, above the national average of 12.4%. Workers in Olmsted have an average one-way commute time of 31.5 minutes.
Education & Demographics
5.7% of Olmsted 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 0.0% White, 0.0% 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 Olmsted, IL
Compared to national averages, Olmsted has a median household income of $34,375 (54% below the national median of $75,149). Home values average $0, which is 100% below the national median. Monthly rent at $775 is 33% below the US average of $1,163. Within Illinois, Olmsted's income is 54% below the state average of $75,072, and home values are 100% below the state median of $165,779.
Why Live in Olmsted, IL?
Olmsted offers affordable housing with a median home value of $0, below the US average of $244,900, and rent that’s lower than the national average at $775/month, and a strong job market with an unemployment rate of just 0.0%.
Potential considerations include median household income ($34,375) that falls below the national average. However, Olmsted’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Olmsted has a population of 257 with a median age of 57.4 years. Compare Olmsted with other cities to see how it stacks up, or explore all cities in Illinois.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Olmsted
What is the population of Olmsted, IL?
The population of Olmsted, IL is 257 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 Olmsted?
The median household income in Olmsted, IL is $34,375 per year, which is 54% below the national median of $75,149.
What is the median home value in Olmsted?
The median home value in Olmsted, IL is $0, which is 100% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Olmsted?
The median monthly rent in Olmsted, IL is $775, which is 33% below the national average of $1,163/month.
What is the unemployment rate in Olmsted?
The unemployment rate in Olmsted, 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 Olmsted, IL a good place to live?
Olmsted offers a moderate cost of living, affordable housing, and a strong job market. With a population of 257 and a median age of 57.4, the city appeals to established professionals and retirees.
How educated is Olmsted, IL?
5.7% of residents in Olmsted 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 Olmsted?
Key cost-of-living indicators for Olmsted, IL: median home value is $0 (100% below national), median rent is $775/month, and median household income is $34,375. The home-value-to-income ratio is 0.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Olmsted?
The poverty rate in Olmsted, IL is 16.0%, 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 Olmsted, IL?
Olmsted's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 19.1% two or more races. 0.0% of residents are foreign-born.