2

Olney, IL Homes for Rent

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    $775

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 550 Sq Ft
    • Condo for Rent

    223 S Camp Ave Unit Camp single bedroom, Olney, IL 62450

    This 1-bedroom, 1-bathroom anpartment offers 550 square feet of living space. The living room features vinyl flooring, providing a low-maintenance and clean environment. The bathroom is equipped with standard fixtures and offers essential amenities. The bedroom is adequately sized. The rental price is competitive for the area, making it an attractive option for potential renters. This property is

    223 S Camp Ave Unit Camp single bedroom, Olney, IL 62450
  • /16

    $775

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 550 Sq Ft
    • Condo for Rent

    920 N Walnut St Unit 920 Walnut, Olney, IL 62450

    This 1-bedroom, 1-bathroom apartment at 920 N Walnut St offers 550 square feet of living space. Tile flooring can be found throughout the apartment. The kitchen is equipped with essential appliances and complex includes coin operated laundry facilities for tenant use on premise. The bedroom is designed for comfort and includes adequate storage space. The bathroom is functional and

    920 N Walnut St Unit 920 Walnut, Olney, IL 62450

Why Live in Olney

Olney, Illinois, known as the "White Squirrel Capital of the World," is a small city where white squirrels are a celebrated part of the community, even featured in the city logo and protected by local laws. Located in Richland County, Olney is a hub of commerce in Southeastern Illinois, with major employers like Walmart Distribution Center and Carle Richland Memorial Hospital. The city is undergoing a downtown reconstruction project, adding to its appeal. Housing in Olney ranges from homes built in the late 1800s to early 2000s, with median home prices around $133,000, significantly lower than the national median. The well-rated Richland County Community Unit School District 1 serves local students, and Olney Central College offers higher education opportunities, including associate and bachelor’s degrees through a partnership with Franklin University. Olney boasts five parks, including the woodlands of East Fork Lake, a popular spot for boating and fishing. Main Street and West Street are lined with local shops and restaurants, contributing to the city's vibrant downtown. Annual events like the Richland County Fair and the Olney Arts Council’s Fall Festival are held at Olney City Park, adding to the city's attractions. Public transportation is available through Rides Mass Transit District, with the White Squirrel bus route providing access to essential stops. Olney is about 2.5 hours from St. Louis, Springfield, and Indianapolis, with Evansville Regional Airport located 1.5 hours south.

Frequently Asked Questions

How much does it cost to rent a home in Olney, IL?
The median rent for a home in Olney, IL is $775 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Olney, IL?
To comfortably afford the median rent in Olney, IL, a household needs to earn roughly $31,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $775 per month in Olney, IL, renters typically need to show $2,325 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Olney, IL?
In Olney, IL, the price-to-rent ratio is 14.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$775
Median Condo Rent
$775
How to Rent a Home