Living in Allegany, New York
Cost of living, income, home prices, rent and demographics of Allegany · Census data 2020–2024
Allegany has 1,740 residents with a median age of 39. The median household income is $70,625 (18% lower than the New York median), the median home value is $164,100, the median rent is $772/month.
Allegany at a glance
- Population
- 1,740
- Median age
- 39State: 39.8
- Median household income
- $70,625State: $85,974
- Median home value
- $164,100State: $423,800
- Median rent
- $772/moState: $1,621
- Homeowners
- 65.6%
- Bachelor's degree or higher
- 45.3%
- Average commute
- 19 min
Is Allegany a good place to live?
Pros: Home values 61% lower than the state median; an average commute of 19 minutes; unemployment of 2.3%.
Cons: Median household income 18% lower than the New York median; a poverty rate of 16.6%.
The weather is best in June to September.
Cost of living in Allegany
Housing is the biggest part of the cost of living. In Allegany the median home value is $164,100, 51% lower than the U.S. median. Renters pay a median of $772 per month, which is 31.2% of household income. Homeowners with a mortgage pay $1,401 a month in housing costs.
Allegany median household income
The median household income in Allegany is $70,625 and the income per person is $42,910. 16.6% of residents live below the poverty line (New York: 14%).
Housing in Allegany: homes for sale and rent
- Housing units
- 851
- Owner-occupied
- 65.6%
- Renter-occupied
- 34.4%
- Vacant
- 13.6%Includes seasonal homes
- Median year built
- 1953
- Average household size
- 2.29
Allegany demographics
- Population
- 1,740
- Median age
- 39
- Under 18
- 21.4%
- 65 and older
- 20.4%
- Households
- 735
- Foreign-born
- 4.5%
- Veterans
- 4.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Allegany ›
Education in Allegany
45.3% of adults 25 and older in Allegany have a bachelor's degree or higher (New York: 40.2%), and 25.9% have a graduate or professional degree.
Jobs and commute in Allegany
- Unemployment rate
- 2.3%State: 6.4%
- Average commute
- 19 minState: 33 min
- Work from home
- 6.8%
- Drive alone
- 83.4%
- Public transit
- 3%
- Walk to work
- 1.3%
- Homes with broadband
- 89.5%
Allegany vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Allegany | 1,740 | $70,625 | $164,100 | $772 |
| Olean | 13,738 | $51,261 | $86,100 | $794 |
| Weston Mills | 1,431 | $79,712 | $155,300 | $775 |
| Portville | 951 | $61,793 | $102,900 | $660 |
| Limestone | 480 | $39,583 | $84,700 | — |
| Foster Brook | 942 | $98,049 | $112,600 | — |
| Otto | 1,328 | $53,214 | $102,400 | $640 |
| Eldred | 566 | $49,063 | $125,900 | $531 |
| Foster | 3,956 | $70,362 | $99,200 | $890 |
More for people moving to Allegany
Allegany ZIP code ›Weather and climate ›Living in Allegany: FAQ
What is the median household income in Allegany, NY?
The median household income in Allegany is $70,625, 18% lower than the New York median of $85,974 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Allegany?
The median home value in Allegany is $164,100, compared with $423,800 in New York.
How much is rent in Allegany?
The median gross rent in Allegany is $772 per month, about 31.2% of household income.
Is Allegany, NY a good place to live?
Pluses: home values 61% lower than the state median; an average commute of 19 minutes; unemployment of 2.3%. Minuses: median household income 18% lower than the New York median; a poverty rate of 16.6%.
What is the median age in Allegany?
The median age in Allegany is 39 years (New York: 39.8).
How long is the commute in Allegany?
The average commute to work in Allegany is 19 minutes; 6.8% of workers work from home.
What is the unemployment rate in Allegany?
The unemployment rate in Allegany is 2.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Allegany?
45.3% of adults in Allegany have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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