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The total population of Olney is estimated to be 8,995 with 4,403 males (48.95%) and 4,592 females (51.05%). There are 189 more females than males in Olney.
The median household income in Olney was $59,919 in 2021, which marked an an increase of 3,659(6.50%) from $56,260 in 2020. This income is 80.31% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Olney sees its highest median household income among householders in the age group of 25 to 44 years old, at $70,066. Overall, the median household income for the city of Olney stands at $59,919.
In Olney, the median income for all workers aged 15 years and older, regardless of work hours, was $33,883 for males and $24,572 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $49,440 for males and $47,140 for females.
In Olney, there are just two different racial groups among households. Among these, Some Other Race households report a median household income of $114,041, while White households have a median household income of $58,480.
In 2022, the population of Olney was 8,487, a 1.65% decrease year-by-year from 2021. Previously, in 2021, Olney's population was 8,629, a decline of 0.66% compared to a population of 8,686 in 2020.
The median age in Olney, IL is 40.3, as per 2021 ACS 5-Year Estimates. Of the total population, 20.50% were under the age of 15, 17.63% aged 15 to 29, 41.87% aged 30 to 64, 16.77% aged 65 to 84, and 3.22% were 85 years of age and older.
Racial distribution of Olney population: 93.70% are White, 0.98% are Black or African American, 0.11% are American Indian and Alaska Native, 0.63% are Asian, 1.81% are some other race and 2.77% are multiracial.