Allegany, NY
Population 1,773 · New York
About Allegany, NY
Allegany is a small town located in New York with a population of 1,773 residents according to the latest US Census Bureau American Community Survey data. The median household income is $73,802 per year, which is 2% below the national median of $75,149. The median age of 37.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Allegany features a median home value of $152,000, which is 38% below the national median of $244,900. This positions Allegany in a moderately priced market relative to the rest of the country. Median monthly rent is $767, 34% below the national average of $1,163/month. Of the 866 total housing units, 64% are owner-occupied (489 units) and 36% are renter-occupied (274 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Allegany shows an unemployment rate of 1.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 16.0%, above the national average of 12.4%. Workers in Allegany have an average one-way commute time of 16.2 minutes, one of the shorter commutes in the region.
Education & Demographics
46.7% of Allegany residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.0% White, 0.8% Hispanic or Latino, 1.4% Black or African American, and 0.0% Asian residents, with 3.0% of the population being foreign-born.
Cost of Living in Allegany, NY
Compared to national averages, Allegany has a median household income of $73,802 (2% below the national median of $75,149). Home values average $152,000, which is 38% below the national median. Monthly rent at $767 is 34% below the US average of $1,163. Within New York, Allegany's income is 24% below the state average of $96,987, and home values are 61% below the state median of $387,181.
Why Live in Allegany, NY?
Allegany offers affordable housing with a median home value of $152,000, below the US average of $244,900, and rent that’s lower than the national average at $767/month, and a strong job market with an unemployment rate of just 1.5%. Additionally, the city features a well-educated community where 46.7% of residents hold a bachelor’s degree or higher, and short commute times averaging just 16.2 minutes.
Potential considerations include median household income ($73,802) that falls below the national average. However, Allegany’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Allegany has a population of 1,773 with a median age of 37.1 years. Compare Allegany with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Allegany
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Kerhonkson | 1,773 | $72,411 | $228,000 | Compare |
| Youngstown | 1,773 | $81,818 | $199,500 | Compare |
| Addison | 1,775 | $53,512 | $89,600 | Compare |
| Northville | 1,771 | $118,056 | $819,800 | Compare |
| Aquebogue | 1,778 | $128,309 | $586,900 | Compare |
| Altamont | 1,767 | $105,455 | $306,700 | Compare |
| Bay Park | 1,780 | $97,880 | $494,500 | Compare |
| Dryden | 1,783 | $51,920 | $211,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Allegany With Other Cities
Frequently Asked Questions about Allegany
What is the population of Allegany, NY?
The population of Allegany, NY is 1,773 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New York.
What is the median household income in Allegany?
The median household income in Allegany, NY is $73,802 per year, which is 2% below the national median of $75,149.
What is the median home value in Allegany?
The median home value in Allegany, NY is $152,000, which is 38% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Allegany?
The median monthly rent in Allegany, NY is $767, which is 34% below the national average of $1,163/month.
What is the unemployment rate in Allegany?
The unemployment rate in Allegany, NY is 1.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Allegany, NY a good place to live?
Allegany offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,773 and a median age of 37.1, the city appeals to a broad range of residents.
How educated is Allegany, NY?
46.7% of residents in Allegany aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Allegany?
Key cost-of-living indicators for Allegany, NY: median home value is $152,000 (38% below national), median rent is $767/month, and median household income is $73,802. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Allegany?
The poverty rate in Allegany, NY is 16.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Allegany, NY?
Allegany's population is 0.0% White, 0.8% Hispanic or Latino, 1.4% Black or African American, 0.0% Asian, and 1.1% two or more races. 3.0% of residents are foreign-born.