Olney, IL
Population 8,864 · Illinois
About Olney, IL
Olney is a small community in Illinois with a population of 8,864 residents. The median household income is $57,997 per year, which is near the national average. The median age in Olney is 40.7 years.
Housing in Olney has a median home value of $96,900 and median monthly rent of $769. Of the 4,148 total housing units, the majority are owner-occupied, with 2,321 owner-occupied and 1,216 renter-occupied units.
The unemployment rate in Olney is 6.4% and the poverty rate is 15.4%. 20.1% of residents hold a bachelor's degree or higher. The average commute time is 19.2 minutes.
Cost of Living in Olney, IL
Compared to national averages, Olney has a median household income of $57,997 (23% below the national median of $75,149). Home values average $96,900, which is 60% below the national median. Monthly rent at $769 is 34% below the US average of $1,163. Within Illinois, Olney's income is 23% below the state average of $75,072, and home values are 42% below the state median of $165,779.
Why Live in Olney, IL?
Olney offers affordable housing with a median home value of $96,900, below the US average of $244,900, and rent that’s lower than the national average at $769/month, and short commute times averaging just 19.2 minutes.
Potential considerations include median household income ($57,997) that falls below the national average. However, Olney’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Olney has a population of 8,864 with a median age of 40.7 years. Compare Olney with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Olney
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Harwood Heights | 8,851 | $79,651 | $316,400 | Compare |
| Savoy | 8,807 | $88,828 | $280,700 | Compare |
| Monmouth | 8,794 | $59,690 | $88,100 | Compare |
| Manteno | 8,942 | $96,057 | $241,700 | Compare |
| Mascoutah | 8,743 | $93,902 | $226,300 | Compare |
| Glencoe | 8,715 | $250,001 | $1,354,900 | Compare |
| Lake Villa | 8,707 | $111,110 | $325,900 | Compare |
| Rock Falls | 8,683 | $48,733 | $82,400 | 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.
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Frequently Asked Questions about Olney
What is the population of Olney, IL?
The population of Olney, IL is 8,864 according to the latest Census data.
What is the median household income in Olney?
The median household income in Olney, IL is $57,997 per year.
What is the median home value in Olney?
The median home value in Olney, IL is $96,900.
What is the average rent in Olney?
The median monthly rent in Olney, IL is $769.
What is the unemployment rate in Olney?
The unemployment rate in Olney, IL is 6.4%.