salaryRent is lower than in 90% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 14.4 minutes.
How much money do I need?
To rent here comfortably, you should earn about $38,520 a year. That is $19 an hour at a full-time job.
Is rent cheaper than other New York cities?
Yes. Rent here is cheaper than in most of New York. It is number 10 of 343 cities from cheapest to most expensive.
How much do households earn in Olean?
Share of households by yearly income. 10.5% of households earn $100,000 or more.
Rent by apartment size in Olean
| Size | Olean | U.S. average |
|---|---|---|
| Studio | $488 | $1,338 |
| 1 bedroom | $713 | $1,324 |
| 2 bedrooms | $967 | $1,509 |
| 3 bedrooms | $1,005 | $1,698 |
| 4 bedrooms | $858 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Olean overall?
Everyday prices in New York overall are 8% above the U.S. average (index 107.9, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Olean, so the New York figure is shown.
Taxes and bills in Olean
Life in Olean
Is it cheaper to rent or buy in Olean?
Buying is cheaper month to month: about $366 a month less than renting.
Owning assumes a typical $86,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $8,610 for the down payment.
Frequently asked questions
What is the average rent in Olean, NY?
Renting in Olean costs a median of about $963 a month in 2026, including utilities. The New York median is $2,177.
How much do I need to make to live in Olean?
To keep rent under 30% of income, you need about $38,520 a year, or $19 an hour at a full-time job.
Is Olean cheap or expensive?
Olean is rated OK: rent takes 20.9% of the typical household income of $55,285. It ranks 10th cheapest of 343 New York cities we track.
How much are property taxes in Olean?
The median homeowner in Olean pays $3,130 a year in property taxes, about 3.64% of the median home value.
Is Olean more expensive than the national average?
Overall prices in New York are 8% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Olean?
The median home value in Olean is $86,100, about 1.6 times the typical yearly household income.
13,738 people live in Olean. Numbers are typical (middle) values.