Olean, NY Cost Of Living
Cost Of Living In Olean, NY Summary
Cost of living in Olean research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Olean is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New York, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Olean is 82, with 100 being the average.
The cost of living index in Olean is 0.8x lower than the national average.
Olean ranks as the #5 cheapest in New York out of 341.
Olean ranks as the #221 cheapest out of 6,489 in the US.
The median home value in Olean is $114,250.
The median income in Olean is $47,553.
Table Of Contents
Olean's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Olean, NY?
According to the most recent data on the cost of living, Olean has an overall cost of living index of 82, which is 0.8x lower than the national index of 100.
Compared to New York, Olean has a cost of living index that's 0.7x lower than New York's index of 119.
The standard of living in Olean ranks as #5 most affordable out of the 341 places we measured in New York. By definition, that implies Olean ranks as the #336 most expensive place in the Empire State.
For more reading on life in Olean, check out:
In New York
In America
Olean Cost Of Living Vs. New York
Six factors go into calculating the cost of living index in Olean. Here is how it fairs on each of the criteria:
The Services index in Olean is 93.
The Groceries index in Olean is 98.
The Health index in Olean is 101.
The Housing index in Olean is 50.
The Transportation index in Olean is 96.
The Utilities index in Olean is 95.
| Living Expense | Olean | New York | National Average | |
|---|---|---|---|---|
| Overall | 82 | 119 | 100 | |
| Services | 93 | 110 | 100 | |
| Groceries | 98 | 103 | 100 | |
| Health | 101 | 101 | 100 | |
| Housing | 50 | 145 | 100 | |
| Transportation | 96 | 105 | 100 | |
| Utilities | 95 | 99 | 100 | |
Olean, NY Housing Cost Breakdown
Housing swings affordability the most between places in New York, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Olean is $114,250.
The Median Rent in Olean is $786.
The Median Income in Olean is $47,553.
The Home Value To Income in Olean is 2.4x.
The Rent To Monthly Income in Olean is 0.2x.
Median Home Value
Median Rent
Median Income
Olean, NY Costs By Category
Detailed Olean Services Costs Vs. New York
Detailed Olean Groceries Costs Vs. New York
Detailed Olean Health Costs Vs. New York
Detailed Olean Transportation Costs Vs. New York
Detailed Olean Utilities Costs Vs. New York
Olean SnackAbility
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Cost Of Living In Cities Around Olean
The cost of living varies in the cities and towns around Olean. Here's a quick look at the cost of living in the most populous nearby places:
Jamestown, NY has a cost of living index of 82, 1.0x Olean.
St. Marys, PA has a cost of living index of 91, 1.1x Olean.
Hamburg, NY has a cost of living index of 94, 1.1x Olean.
| City | Population | Cost Of Living | Vs. Olean |
|---|---|---|---|
| Jamestown, NY | 28,401 | 82 | 1.0x |
| St. Marys, PA | 12,612 | 91 | 1.1x |
| Hamburg, NY | 9,762 | 94 | 1.1x |
| Warren, PA | 9,273 | 84 | 1.0x |
| Hornell, NY | 8,173 | 83 | 1.0x |
| Bradford, PA | 7,738 | 82 | 1.0x |
| East Aurora, NY | 5,997 | 101 | 1.2x |
| Salamanca, NY | 5,878 | 79 | 1.0x |
