Penn Yan, NY
Population 4,800 · New York
About Penn Yan, NY
Penn Yan is a small town located in New York with a population of 4,800 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,466 per year, which is 32% below the national median of $75,149. The median age of 44.6 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Penn Yan features a median home value of $143,000, which is 42% below the national median of $244,900. This makes Penn Yan one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $680, 42% below the national average of $1,163/month. Of the 2,339 total housing units, 59% are owner-occupied (1,223 units) and 41% are renter-occupied (836 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Penn Yan shows an unemployment rate of 2.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.5%, above the national average of 12.4%. Workers in Penn Yan have an average one-way commute time of 17.3 minutes, one of the shorter commutes in the region.
Education & Demographics
25.7% of Penn Yan 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 1.5% White, 0.0% Hispanic or Latino, 0.9% Black or African American, and 4.3% Asian residents, with 3.4% of the population being foreign-born.
Cost of Living in Penn Yan, NY
Compared to national averages, Penn Yan has a median household income of $51,466 (32% below the national median of $75,149). Home values average $143,000, which is 42% below the national median. Monthly rent at $680 is 42% below the US average of $1,163. Within New York, Penn Yan's income is 47% below the state average of $96,987, and home values are 63% below the state median of $387,181.
Why Live in Penn Yan, NY?
Penn Yan offers affordable housing with a median home value of $143,000, below the US average of $244,900, and rent that’s lower than the national average at $680/month, and a strong job market with an unemployment rate of just 2.5%. Additionally, the city features short commute times averaging just 17.3 minutes.
Potential considerations include median household income ($51,466) that falls below the national average. However, Penn Yan’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Penn Yan has a population of 4,800 with a median age of 44.6 years. Compare Penn Yan with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Penn Yan
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Flower Hill | 4,793 | $250,001 | $1,849,800 | Compare |
| Searingtown | 4,786 | $215,817 | $1,073,000 | Compare |
| Wellsville | 4,846 | $51,005 | $88,100 | Compare |
| Chittenango | 4,855 | $66,053 | $179,200 | Compare |
| Albertson | 4,859 | $157,690 | $739,100 | Compare |
| Dansville | 4,731 | $57,500 | $105,800 | Compare |
| Hawthorne | 4,881 | $134,797 | $671,300 | Compare |
| West Elmira | 4,691 | $107,359 | $192,900 | 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 Penn Yan With Other Cities
Frequently Asked Questions about Penn Yan
What is the population of Penn Yan, NY?
The population of Penn Yan, NY is 4,800 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 Penn Yan?
The median household income in Penn Yan, NY is $51,466 per year, which is 32% below the national median of $75,149.
What is the median home value in Penn Yan?
The median home value in Penn Yan, NY is $143,000, which is 42% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Penn Yan?
The median monthly rent in Penn Yan, NY is $680, which is 42% below the national average of $1,163/month.
What is the unemployment rate in Penn Yan?
The unemployment rate in Penn Yan, NY is 2.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Penn Yan, NY a good place to live?
Penn Yan offers a moderate cost of living, affordable housing, and a strong job market. With a population of 4,800 and a median age of 44.6, the city appeals to a broad range of residents.
How educated is Penn Yan, NY?
25.7% of residents in Penn Yan 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 Penn Yan?
Key cost-of-living indicators for Penn Yan, NY: median home value is $143,000 (42% below national), median rent is $680/month, and median household income is $51,466. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Penn Yan?
The poverty rate in Penn Yan, NY is 13.5%, 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 Penn Yan, NY?
Penn Yan's population is 1.5% White, 0.0% Hispanic or Latino, 0.9% Black or African American, 4.3% Asian, and 1.2% two or more races. 3.4% of residents are foreign-born.