Market Overview
Home Prices in Olney, TX
The median home value in Olney, TX is $121,251 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 2.1% compared to a year ago and up 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Olney are priced70% below average. Olney is part of the Wichita Falls, TX metro area.
Over the past five years, Olney home values have risen by approximately39.6%, reflecting strong long-term appreciation in this market.
Price History
Olney Home Price Trend
City Comparison
Olney vs. National Median
At $121,251, homes in Olney cost 70% below the national median of $410,000. This makes Olney a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Olney?
20% Down Payment
$24,250
on $121,251
Monthly P&I
$632/mo
30-yr @ 6.8%
Total Monthly Est.
~$803/mo
incl. taxes & insurance
Income Needed
$32,120
gross annual (30% rule)
10% Down Option
$12,125
+ PMI applies
Loan Amount (20% dn)
$97,001
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Olney, TX?
The median home value in Olney is $121,251 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 2.1% year-over-year.
How much have home prices changed in Olney?
Over the past year, home values in Olney have decreased by 2.1%. Over five years, prices have risen approximately 39.6%.
How much do I need to earn to buy a home in Olney?
To comfortably afford the median home price of $121,251 with a 20% down payment ($24,250) at today's rates (6.8%), you'd need a gross annual income of approximately $32,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Olney compare to the national average home price?
The national median home value is approximately $410,000. At $121,251, homes in Olney are 70% below the national average.
What metro area is Olney part of?
Olney is part of the Wichita Falls, TX metropolitan area. Home prices and market conditions can vary across the broader metro region.