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Olney city, IL

ZIP 62450 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 62450

Median Home Value
$111,600
Median Rent
$557
Affordability Snapshot
$31,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$717/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

1.9x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

16.7 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 62450 in Olney city, IL, a household would need roughly $31,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $717. That sits below the local median household income ($60,133), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 14% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
69.2%+6% vs US avg
x
Vacancy Rate
13.9%+35% vs US avg
x
Broadband Access
85.0%-2% vs US avg
x
4+ Bedrooms
3.3%-78% vs US avg
x
Built Pre-1939
5.3%-58% vs US avg
x
Built Post-2014
0.3%-96% vs US avg
x
Rent Burden >30%
14.3%-71% vs US avg
x
Mortgage-Free
52.7%+38% vs US avg
x
$111,600
Home Value
$557
Rent
1971
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached80.0%
  • 1-unit attached0.7%
  • 2-9 units5.5%
  • 10+ units3.1%
  • Mobile home & other10.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$111,600
Median rent$557
Owner-occupied69.2%
Vacant13.9%
Price-to-income1.9x
Est. income to buy$31,000