Olney is located close to the center of Texas. Olney is between the Young, Archer, Baylor, Throckmorton county. Olney has 2.02 square miles of land area and 0.01 square miles of water area. As of 2010-2014, the total Olney population is 3,242, which has shrunk 4.53% since 2000. The population growth rate is much lower than the state average rate of 25.13% and is much lower than the national average rate of 11.61%. Olney median household income is $29,394 in 2010-2014 and has grown by 33.66% since 2000. The income growth rate is higher than the state average rate of 31.68% and is higher than the national average rate of 27.36%. Olney median house value is $49,100 in 2010-2014 and has grown by 43.15% since 2000. The house value growth rate is lower than the state average rate of 59.27% and is lower than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Olney is better than the state average in quality. The Olney area code is 940.