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Olney, TX Home for Rent

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    $1,200 Per Month

    • 3 Beds
    • 1 Bath
    • 1,196 Sq Ft
    • House for Rent

    209 S Avenue H, Olney, TX 76374

    Must see the large laundry room in this cute, well-kept home. The oversized primary bedroom is from a well-done garage conversion and can be used as a large second living area, flex-space.

    Melody Gillespie Melody Gillespie, Broker

    209 S Avenue H, Olney, TX 76374

Why Live in Olney

Olney, located in Young County, Texas, is a small rural community known for its oil, agriculture, and industrial sectors. Situated over 40 miles south of Wichita Falls, Olney experienced significant growth in the 1930s due to an oil boom, attracting over 3,000 new residents. The local economy is bolstered by manufacturing companies producing aluminum extrusions, agricultural aircraft, and concrete mixers. The town features a variety of dining options, including Sonny’s BBQ, El Chamuco Mexican Food, Hudson’s On Main, and Old Time Cafe. Shopping includes Archer & Gunn Mercantile for outdoor apparel and Olney Floral and Designs for bouquets. Housing in Olney primarily consists of traditional, Craftsman, and ranch-style homes, many built in the 1960s, with features such as wooden and chain link fences, decks, and covered patios. Recreational amenities include Tom Griffin Park with its playgrounds, disc golf course, and swimming pool, and Tommy Perkins Memorial Park with climbing walls and picnic areas. The Olney Country Club offers a golf course, pool, and tennis courts, while the Olney Boys & Girls Club provides sports fields and playgrounds. The Olney Independent School District is highly rated, with Olney Junior High School offering a Gifted and Talented program. Annual events like Olney In America and the Olney In America Car Show bring the community together. Texas State Highways 79 and 114 intersect in Olney, and the SHARP Lines Rural Public Transportation system connects residents to surrounding areas. Olney Hamilton Hospital provides 24-hour medical services, and the DFW International Airport is over 115 miles away.

Frequently Asked Questions

How much does it cost to rent a home in Olney, TX?
The median rent for a home in Olney, TX is $1,200 per month, though prices vary by neighborhood, size, and property type. As of May 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Olney, TX?
To comfortably afford the median rent in Olney, TX, a household needs to earn roughly $48,000 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 $1,200 per month in Olney, TX, renters typically need to show $3,600 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, TX?
In Olney, TX, the price-to-rent ratio is 8.7, 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 in Olney, TX

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,200
Median Single Family Home Rent
$1,700
How to Rent a Home