Cost of Living in Olmsted, IL
Population: 257 | Illinois
Olmsted is 18% less expensive than the national average.
Cost of Living in Olmsted, IL: What You Need to Know
With a cost of living index of 82, Olmsted, IL is a very affordable place to live. Living here is 18% cheaper than the national average and in line with the Illinois state average. Olmsted is a small community of 257 residents.
The median household income in Olmsted is $34,375, which is 54% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.
Climate is another factor for anyone considering a move to Olmsted. The area sees an average annual temperature of 58.1°F, with summers averaging 78°F and winters around 37°F. Annual rainfall totals 51 inches spread over roughly 0 days.
Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.
Income
- Median Household Income
- $34,375
- vs US Median ($75,149)
- -54%
Housing
- Median Rent
- $775/mo
- Median Monthly Housing Cost
- $495/mo
Climate in Olmsted
NOAA 30-year normals (1991-2020)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 43 | 48 | 59 | 70 | 78 | 86 | 89 | 88 | 82 | 71 | 58 | 47 |
| Avg °F | 35 | 39 | 48 | 59 | 68 | 76 | 79 | 78 | 71 | 59 | 48 | 38 |
| Low °F | 26 | 30 | 38 | 48 | 58 | 66 | 70 | 68 | 60 | 48 | 37 | 30 |
| Rain" | 3.8 | 3.9 | 4.9 | 5.4 | 5.1 | 4.4 | 4.1 | 3.2 | 3.5 | 4.1 | 4.5 | 4.3 |