Living in Olean, New York
Cost of living, income, home prices, rent and demographics of Olean · Census data 2020–2024
Olean has 13,738 residents with a median age of 39. The median household income is $51,261 (40% lower than the New York median), the median home value is $86,100, the median rent is $794/month.
Olean at a glance
- Population
- 13,738
- Median age
- 39State: 39.8
- Median household income
- $51,261State: $85,974
- Median home value
- $86,100State: $423,800
- Median rent
- $794/moState: $1,621
- Homeowners
- 55.1%
- Bachelor's degree or higher
- 29.9%
- Average commute
- 14 min
Is Olean a good place to live?
Pros: Home values 80% lower than the state median; an average commute of 14 minutes; unemployment of 6.3%.
Cons: Median household income 40% lower than the New York median; a poverty rate of 26.7%.
The weather is best in June to September.
Cost of living in Olean
Housing is the biggest part of the cost of living. In Olean the median home value is $86,100, 74% lower than the U.S. median. Renters pay a median of $794 per month, which is 30.7% of household income. Homeowners with a mortgage pay $1,160 a month in housing costs.
Olean median household income
The median household income in Olean is $51,261 and the income per person is $29,512. 26.7% of residents live below the poverty line (New York: 14%).
Housing in Olean: homes for sale and rent
- Housing units
- 7,078
- Owner-occupied
- 55.1%
- Renter-occupied
- 44.9%
- Vacant
- 11.4%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.11
Olean demographics
- Population
- 13,738
- Median age
- 39
- Under 18
- 23.5%
- 65 and older
- 19.1%
- Households
- 6,274
- Foreign-born
- 3.2%
- Veterans
- 5.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Olean ›
Education in Olean
29.9% of adults 25 and older in Olean have a bachelor's degree or higher (New York: 40.2%), and 15.2% have a graduate or professional degree.
Jobs and commute in Olean
- Unemployment rate
- 6.3%State: 6.4%
- Average commute
- 14 minState: 33 min
- Work from home
- 8.4%
- Drive alone
- 72.6%
- Public transit
- 1.1%
- Walk to work
- 4.8%
- Homes with broadband
- 87%
Olean vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Olean | 13,738 | $51,261 | $86,100 | $794 |
| Allegany | 1,740 | $70,625 | $164,100 | $772 |
| Weston Mills | 1,431 | $79,712 | $155,300 | $775 |
| Portville | 951 | $61,793 | $102,900 | $660 |
| Eldred | 566 | $49,063 | $125,900 | $531 |
| Otto | 1,328 | $53,214 | $102,400 | $640 |
| Foster Brook | 942 | $98,049 | $112,600 | — |
| Limestone | 480 | $39,583 | $84,700 | — |
| Ceres | 1,002 | $60,114 | $98,800 | $893 |
More for people moving to Olean
Olean ZIP code ›Weather and climate ›Living in Olean: FAQ
What is the median household income in Olean, NY?
The median household income in Olean is $51,261, 40% 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 Olean?
The median home value in Olean is $86,100, compared with $423,800 in New York.
How much is rent in Olean?
The median gross rent in Olean is $794 per month, about 30.7% of household income.
Is Olean, NY a good place to live?
Pluses: home values 80% lower than the state median; an average commute of 14 minutes; unemployment of 6.3%. Minuses: median household income 40% lower than the New York median; a poverty rate of 26.7%.
What is the median age in Olean?
The median age in Olean is 39 years (New York: 39.8).
How long is the commute in Olean?
The average commute to work in Olean is 14 minutes; 8.4% of workers work from home.
What is the unemployment rate in Olean?
The unemployment rate in Olean is 6.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Olean?
29.9% of adults in Olean 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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