Cost of Living in Olney, IL

Get 300+ Local Insights for Any Address in Olney, IL

Get Access to 300+ Local Data Points
A+
17%
Overall NAT. AVG.
3%
Groceries NAT. AVG.
51%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Olney Illinois National
Cost of living8398100
Groceries97100100
Health care94100100
Housing4995100
Transportation97101100
Utilities9499100
Lifestyle & Entertainment99100100
Household Items99100100
Education & Childcare99100100
Does this Area Fit Your Budget? Local Insights Report
  • Know the community before you call it home
  • Compare multiple areas side by side
  • Access over 300 data points for any address
Local Insights Report

Homes For Sale In Olney, IL

property for sale

1009 E South Ave

Olney, IL
property for sale

401 W Chestnut St

Olney, IL
property for sale

439 E Glenwood Ave

Olney, IL
property for sale

2202 Birch St

Olney, IL
See the Newest Homes For Sale In Olney, IL

Cost Of Living Quick Facts

  • The cost of living in Olney is 16% lower than the Illinois average
  • The cost of living in Olney is 17% lower than the national average
  • Olney housing is 51% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Olney

See all the best places to live around Olney

Compare Olney, IL Cost of Living

City Image
    City Default Image
      vs
      How would you rate the cost of living in Olney?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Olney?
      Write a review to give others more information about this area.
      See all Olney poll results

      The best places in Illinois

      Here are the best places to live in IllinoisThese are the largest cities in IllinoisSafest States In The USSafest Cities In The US
      Best Places in Illinois

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$108,428$9,036$2,530$3,253
      Renters$38,459$3,205$897$1,154
      A good way to judge both the affordability of the housing and the cost of living in Olney is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Olney has a median income of about $108,428 for people who own homes. Based on that number, a maximum of $2,530 should be spent on expenses related to housing. Renters have a slightly different median income, which is $38,459. Based on this average, renters should spend no more than $897 on all rental costs if they want to maintain a non-impoverished standard of living.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Sailor Springs, IL117973.1%
      West Salem, IL8997822.0%
      Parkersburg, IL2277821.9%
      Noble, IL6737821.7%
      Mount Erie, IL1187821.5%
      Olney, IL9,1968317.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Waseca, MN9,195937.0%
      Picture Rocks, AZ9,197954.9%
      Toppenish, WA9,1991011.2%
      South Amboy, NJ9,19212928.7%
      Ashland, NJ9,18912222.1%
      Olney, IL9,1968317.4%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
      General
      For Professionals
      Follow Us
      AV on Twitter AV on Facebook
      © AreaVibes Inc. 2010-2026