Olney, IL Cost Of Living
Cost Of Living In Olney, IL Summary
Cost of living in Olney research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Olney is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Olney is 80, with 100 being the average.
The cost of living index in Olney is 0.8x lower than the national average.
Olney ranks as the #14 cheapest in Illinois out of 338.
Olney ranks as the #211 cheapest out of 6,412 in the US.
The median home value in Olney is $82,900.
The median income in Olney is $55,434.
Table Of Contents
Olney's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Olney, IL?
According to the most recent data on the cost of living, Olney has an overall cost of living index of 80, which is 0.8x lower than the national index of 100.
Compared to Illinois, Olney has a cost of living index that's 0.9x lower than Illinois's index of 92.
The standard of living in Olney ranks as #14 most affordable out of the 338 places we measured in Illinois. By definition, that implies Olney ranks as the #324 most expensive place in the Prairie State.
For more reading on life in Olney, check out:
- Living In Olney
- Olney Crime Report
- Search Homes For Sale In Olney, IL
In Illinois
In America
Olney Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Olney. Here is how it fairs on each of the criteria:
The Services index in Olney is 93.
The Groceries index in Olney is 94.
The Health index in Olney is 94.
The Housing index in Olney is 48.
The Transportation index in Olney is 95.
The Utilities index in Olney is 113.
| Living Expense | Olney | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 80 | 92 | 100 | |
| Services | 93 | 95 | 100 | |
| Groceries | 94 | 98 | 100 | |
| Health | 94 | 96 | 100 | |
| Housing | 48 | 81 | 100 | |
| Transportation | 95 | 105 | 100 | |
| Utilities | 113 | 90 | 100 | |
Olney, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Olney is $82,900.
The Median Rent in Olney is $612.
The Median Income in Olney is $55,434.
The Home Value To Income in Olney is 1.5x.
The Rent To Monthly Income in Olney is 0.13x.
| Statistic | Olney | Illinois | United States |
|---|---|---|---|
| Median Home Value | $82,900 | $212,600 | $244,900 |
| Median Rent | $612 | $1,097 | $1,163 |
| Median Income | $55,434 | $72,563 | $69,021 |
| Home Value To Income | 1.5x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.13x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Olney, IL Costs By Category
Detailed Olney Services Costs Vs. Illinois
Detailed Olney Groceries Costs Vs. Illinois
Detailed Olney Health Costs Vs. Illinois
Detailed Olney Transportation Costs Vs. Illinois
Detailed Olney Utilities Costs Vs. Illinois
Olney SnackAbility
/10
Cost Of Living In Cities Around Olney
The cost of living varies in the cities and towns around Olney. Here's a quick look at the cost of living in the most populous nearby places:
Vincennes, IN has a cost of living index of 85, 1.1x Olney.
Effingham, IL has a cost of living index of 83, 1.0x Olney.
Washington, IN has a cost of living index of 84, 1.1x Olney.
| City | Population | Cost Of Living | Vs. Olney |
|---|---|---|---|
| Vincennes, IN | 16,892 | 85 | 1.1x |
| Effingham, IL | 12,218 | 83 | 1.0x |
| Washington, IN | 12,015 | 84 | 1.1x |
| Salem, IL | 7,269 | 78 | 1.0x |
| Robinson, IL | 7,264 | 86 | 1.1x |
| Mount Carmel, IL | 6,937 | 84 | 1.1x |
