Olney, IL is a small but charming city located in Eastern Illinois. With a population of around 8,500 people, it is a great place to escape from the hustle and bustle of larger cities. The 2 bedroom rent in Olney is $760 which is much lower than the national average rent for 2 bedrooms, which stands at $1,430. Furthermore, the grocery cost index in Olney is 92 compared to 100 nationally. This indicates that groceries are more affordable here when compared to the US average. There are a few notable companies like Pepsi Beverage Company and FCL Graphics doing business in Olney as well. In conclusion, Olney offers a great combination of affordability and quality of life; making it an attractive option for those looking for something different than what larger cities have to offer.
Olney has an unemployment rate of 4.6%. The US average is 6.0%.
Olney has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Olney
- The Sales Tax Rate for Olney is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Olney is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Olney
- The average income of a Olney resident is $26,773 a year. The US average is $37,638 a year.
- The Median household income of a Olney resident is $55,434 a year. The US average is $69,021 a year.