Olean, NY Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 83, with 100 being the average.

  • The cost of living index in Olean is 0.8x lower than the national average.

  • Olean ranks as the #6 cheapest in New York out of 340.

  • Olean ranks as the #491 cheapest out of 6,412 in the US.

  • The median home value in Olean is $81,000.

  • The median income in Olean is $43,345.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
83
Olean's Overall Cost Of Living
0.8x
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 83, 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 126.

The standard of living in Olean ranks as #6 most affordable out of the 340 places we measured in New York. By definition, that implies Olean ranks as the #334 most expensive place in the Empire State.

For more reading on life in Olean, check out:

6 out of 340
In New York
491 out of 6,412
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 101.

  • The Groceries index in Olean is 92.

  • The Health index in Olean is 87.

  • The Housing index in Olean is 46.

  • The Transportation index in Olean is 98.

  • The Utilities index in Olean is 98.

Living Expense Olean New York National Average
Overall 83 126 100
Services 101 110 100
Groceries 92 104 100
Health 87 105 100
Housing 46 175 100
Transportation 98 107 100
Utilities 98 102 100
For more reading on cost of living around New York, check out:
Olean Cost of Living Vs. NY

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 2017-2021. The key points are:

  • The Median Home Value in Olean is $81,000.

  • The Median Rent in Olean is $681.

  • The Median Income in Olean is $43,345.

  • The Home Value To Income in Olean is 1.9x.

  • The Rent To Monthly Income in Olean is 0.19x.

Statistic Olean New York United States
Median Home Value $81,000 $340,600 $244,900
Median Rent $681 $1,390 $1,163
Median Income $43,345 $75,157 $69,021
Home Value To Income 1.9x 4.5x 3.5x
Rent To Monthly Income 0.19x 0.22x 0.2x
Search Homes For Sale In Olean, NY
$81,000
Median Home Value
$681
Median Rent
$43,345
Median Income

Olean, NY Costs By Category

Detailed Olean Services Costs Vs. New York

Item Olean New York
Shampoo $0.95 $1.06
Movie $11.16 $10.68
Bowling $15.0 $14.67
Haircut $17.42 $18.62
Beauty Salon $38.64 $39.05

Detailed Olean Groceries Costs Vs. New York

Item Olean New York
Ground Beef $3.89 $4.22
Fried Chicken $1.23 $1.39
Milk $2.27 $2.05
Potatoes $3.41 $3.29
Pizza $11.66 $10.62
Beer $9.49 $9.38
Toothpaste $1.72 $2.34

Detailed Olean Health Costs Vs. New York

Item Olean New York
Optometrist $62.78 $108.57
Doctor $94.5 $116.17
Dentist $83.55 $99.13

Detailed Olean Transportation Costs Vs. New York

Item Olean New York
Gasoline $2.29 $2.22
Tire Balancing $42.61 $50.07

Detailed Olean Utilities Costs Vs. New York

Item Olean New York
All Electricity $153.91 $167.67
Phone $189.34 $175.64

Olean SnackAbility

5
/10
Overall SnackAbility
Jobs
5/10
Housing
4
Affordability
8.5
Diversity
6
Safety
6
Amenities
8.5
Education
7
Commute
9.5

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 92, 1.1x Olean.

  • Hamburg, NY has a cost of living index of 91, 1.1x Olean.

City Population Cost Of Living Vs. Olean
Jamestown, NY 28,818 82 1.0x
St. Marys, PA 12,771 92 1.1x
Hamburg, NY 9,722 91 1.1x
Warren, PA 9,363 84 1.0x
Hornell, NY 8,284 88 1.1x
Bradford, PA 7,913 78 0.9x
East Aurora, NY 6,095 97 1.2x
Salamanca, NY 5,918 82 1.0x

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