Olney, IL Profile: Facts & Data

Olney, Illinois - Basic Facts

The City of Olney had a population of 8,464 as of July 1, 2024.

The primary coordinate point for Olney is located at latitude 38.7309 and longitude -88.0853 in Richland County. The formal boundaries for the City of Olney encompass a land area of 7.08 sq. miles and a water area of 0 sq. miles. Richland County is in the Central time zone (GMT -6).

The City of Olney has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The City of Olney is located within Township of Olney, a minor civil division (MCD) of Richland County.

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Olney, IL Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	8,464 (100%)
Population in Households	8,152 (96.3%)
Population in Families	5,829 (68.9%)
Population in Group Quarters¹	312 ( 3.7%)
Population Density	1,221
Diversity Index²	20


INCOME
Median Household Income	$54,417
Average Household Income	$70,355
% of Income for Mortgage⁴	12%
Per Capita Income	$30,616
Wealth Index⁵	54
Socioeconomic Status Index⁶	Moderate (47.7)

HOUSING
Total HU (Housing Units)	4,184 (100%)
Owner Occupied HU	2,336 (55.8%)
Renter Occupied HU	1,340 (32.0%)
Vacant Housing Units	508 (12.1%)
Median Home Value	$105,923
Average Home Value	$134,942
Housing Affordability Index³	190

HOUSEHOLDS
Total Households	3,676
Average Household Size	2.22
Family Households	2,029
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

4,184 (100%)

Owner Occupied HU

2,336 (55.8%)

Renter Occupied HU

1,340 (32.0%)

Vacant Housing Units

508 (12.1%)

Median Home Value

$105,923

Average Home Value

$134,942

Housing Affordability Index³

190

HOUSEHOLDS

Total Households

3,676

Average Household Size

2.22

Family Households

2,029

Average Family Size

3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.65%	-0.56%
Households	-0.25%	-0.03%
Families		-0.19%
Median Household Income		1.50%
Per Capita Income		2.59%
Owner Occupied HU		0.61%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

-0.65%

-0.56%

Households

-0.25%

-0.03%

Families

-0.19%

Median Household Income

1.50%

Per Capita Income

2.59%

Owner Occupied HU

0.61%

Olney, IL - Peer Comparisons by Rank and Percentile

The table below compares Olney to the other 1,462 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 250	83rd
Population Density	# 551	62nd
Median Household Income	# 1219	17th
Housing Affordability Index	# 1202	82nd
Per Capita Income	# 1199	18th
Diversity Index	# 792	47th

Variable Description

Rank

Percentile

Total Population

# 250

83rd

Population Density

# 551

62nd

Median Household Income

# 1219

17th

Housing Affordability Index

# 1202

82nd

Per Capita Income

# 1199

18th

Diversity Index

# 792

47th

Illinois Census Data Comparison Tool

Olney, IL Profile: Facts & Data

Olney, Illinois - Basic Facts

Olney, IL Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Olney, IL - Peer Comparisons by Rank and Percentile

Olney, IL - Most Popular Things to Do

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Richland County