Cost of Living in Olney, TX
Population 3,011 · Texas · Data vintage 2023
(100 = US avg)
At $39,231, median household incomes in Olney land roughly 47% below the US median, a gap that tends to persist across local labor-market indicators. Around 25% of residents live below the federal poverty line, a rate that tends to correlate with the income and housing figures above.
Olney is about 40 miles southwest of Wichita Falls, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 35% lower than Wichita Falls' $143,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Olney
The median home value in Olney is $92,200 — 70% below the national median of $305,000. Median rent runs $436/month, 67% lower than the national median of $1,314/month. The median household income of $39,231/year is 47% lower than the US median of $74,580. The local unemployment rate is 6.1%, above the national average of 4.8%. Texas charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 76.1°F and lows of 51.2°F, with about 3.1" of annual snowfall. Overall, Olney has a cost of living index of 31 versus the US average of 100, meaning it is 69% less expensive.
Olney has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 55 | 59 | 68 | 76 | 84 | 92 | 97 | 97 | 88 | 77 | 65 | 56 |
| Low °F | 30 | 34 | 42 | 50 | 60 | 68 | 72 | 72 | 64 | 52 | 40 | 32 |
| Precip" | 1.20 | 1.40 | 2.02 | 2.50 | 3.81 | 3.35 | 2.02 | 2.53 | 2.99 | 2.88 | 1.63 | 1.56 |
| Snow" | 0.7 | 1.1 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | 0.8 |
Frequently Asked Questions
What is the cost of living in Olney, TX?
Olney has a cost index of 31 (100 = national average). It is 69% below the national average.
What is average rent in Olney, TX?
The median gross rent in Olney is $436 per month based on 2023 Census data.
What is the average home price in Olney?
The median home value in Olney is $92,200 according to Zillow and Census data.
What is the median income in Olney?
The median household income in Olney is $39,231 per year (2023 ACS 5-year estimates).
What is the sales tax in Olney, TX?
The combined state and local sales tax rate in Olney is 8.2%. Texas has no state income tax.
Is Olney, TX affordable?
Yes, Olney is generally considered affordable, with a cost of living index of 31 — about 69% below the US national average of 100.
What is the weather like in Olney?
Olney has average high temperatures of 76.1°F and average lows of 51.2°F. Annual precipitation is 27.9". Average annual snowfall is 3.1". Data from NOAA 1991–2020 Climate Normals.
Olney at a Glance
- Population
- 3,011
- Median Income
- $39,231
- Home Value
- $92,200
- Median Rent
- $436/mo
- Unemployment
- 6.1%
- Avg High Temp
- 76.1°F
- Sales Tax
- 8.2%
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