Olean, NY
Population 13,798 · New York
About Olean, NY
Olean is a mid-sized city located in New York with a population of 13,798 residents according to the latest US Census Bureau American Community Survey data. The median household income is $47,553 per year, which is 37% below the national median of $75,149. The median age of 38.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Olean features a median home value of $90,500, which is 63% below the national median of $244,900. This makes Olean one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $786, 32% below the national average of $1,163/month. Of the 6,912 total housing units, 54% are owner-occupied (3,373 units) and 46% are renter-occupied (2,842 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Olean shows an unemployment rate of 6.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 24.1%, above the national average of 12.4%. Workers in Olean have an average one-way commute time of 16.4 minutes, one of the shorter commutes in the region.
Education & Demographics
29.1% of Olean residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.1% White, 2.1% Hispanic or Latino, 0.7% Black or African American, and 0.3% Asian residents, with 3.0% of the population being foreign-born.
Cost of Living in Olean, NY
Compared to national averages, Olean has a median household income of $47,553 (37% below the national median of $75,149). Home values average $90,500, which is 63% below the national median. Monthly rent at $786 is 32% below the US average of $1,163. Within New York, Olean's income is 51% below the state average of $96,987, and home values are 77% below the state median of $387,181.
Why Live in Olean, NY?
Olean offers affordable housing with a median home value of $90,500, below the US average of $244,900, and rent that’s lower than the national average at $786/month, and short commute times averaging just 16.4 minutes.
Potential considerations include median household income ($47,553) that falls below the national average. However, Olean’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Olean has a population of 13,798 with a median age of 38.7 years. Compare Olean with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Olean
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| East Islip | 13,687 | $146,890 | $577,600 | Compare |
| St. James | 13,680 | $130,556 | $632,900 | Compare |
| Rocky Point | 13,931 | $124,615 | $417,400 | Compare |
| Greece | 14,053 | $67,223 | $157,600 | Compare |
| Jericho | 14,117 | $180,072 | $923,600 | Compare |
| Endicott | 13,456 | $46,685 | $109,800 | Compare |
| Jefferson Valley-Yorktown | 14,195 | $152,948 | $566,800 | Compare |
| Salisbury | 13,388 | $173,808 | $639,800 | 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 Olean With Other Cities
Frequently Asked Questions about Olean
What is the population of Olean, NY?
The population of Olean, NY is 13,798 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New York.
What is the median household income in Olean?
The median household income in Olean, NY is $47,553 per year, which is 37% below the national median of $75,149.
What is the median home value in Olean?
The median home value in Olean, NY is $90,500, which is 63% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Olean?
The median monthly rent in Olean, NY is $786, which is 32% below the national average of $1,163/month.
What is the unemployment rate in Olean?
The unemployment rate in Olean, NY is 6.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Olean, NY a good place to live?
Olean offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 13,798 and a median age of 38.7, the city appeals to a broad range of residents.
How educated is Olean, NY?
29.1% of residents in Olean aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Olean?
Key cost-of-living indicators for Olean, NY: median home value is $90,500 (63% below national), median rent is $786/month, and median household income is $47,553. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Olean?
The poverty rate in Olean, NY is 24.1%, 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 Olean, NY?
Olean's population is 0.1% White, 2.1% Hispanic or Latino, 0.7% Black or African American, 0.3% Asian, and 2.4% two or more races. 3.0% of residents are foreign-born.