Cost Of Living
Taking into account the cost of goods and services like housing, groceries, transportation and utilities, the overall cost of living in this area is well below average.
Housing
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
Health & Safety
Good air quality as well as nearby health facilities like hospitals, clinics, nursing homes, fire and police stations all contribute to a higher than average health and safety score.
Amenities
The majority of amenities are not ideally located within walking distance. To access these amenities, residents may be required to rely on a vehicle or public transit.
Commute
A low commute score could be due to longer-than-average work commutes and the limited availability of public transportation in this area.
Crime
This area reports elevated crime rates per 100,000 individuals, potentially pointing some areas being unsafe for its residents. Stats are based on both property and violent crimes.
Employment
In the employment category, a low score could be attributed to low income levels and high unemployment in the area, suggesting potential difficulties in finding lucrative employment.
Olean, New York is a mid-sized city with a population of 13,580 inhabitants. If we take a look at the last Census, the vast majority of the population falls within one racial group (91% White). Given that fact, Olean could be considered less diverse than other cities. Olean is very likely to be a great place to live for singles as only 49%, of the population (over fifteen) are classified as married. Not a fan of sitting in traffic during your commute to work? Olean offers shorter work commutes, with an average one-way commute time taking only 16 minutes, far lower than the national average of 26 minutes.
Living in Olean can be a great experience for anyone relocating to the town. Having said that, in the state of New York, there are many incredible places to live, so choose wisely! When searching for a new neighborhood, several factors play a vital role in determining its suitability. Safety should be a top priority, ensuring a secure environment with low crime rates. Proximity to your workplace or school helps minimize commuting time and allows for a better work-life balance. Availability of essential amenities such as parks, coffee shops, restaurants, grocery stores, and healthcare facilities contributes to convenience and well-being. Access to reliable public transportation options facilitates easy commuting and connectivity. Additionally, considering the sense of community and the overall atmosphere that resonates with your lifestyle and preferences fosters a harmonious living experience. Finding the best places to live in Olean and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes cost of living, commute, housing and other important metrics.
With a livability score of 73/100, Olean is ranked #4,465 in the United States and #287 in New York. If we consider each of the categories individually, we see that Olean ranks well for cost of living (A+) and housing (B+). There are some categories that Olean ranks poorly for, including: amenities (F) and employment (F). It might be worth taking a closer look to determine why.
A healthy real estate market serves as a key economic indicator. It could signify overall local economic strength, stability and reflects consumer confidence in the area. Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Olean has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
Assuming that Olean meets all of your requirements like low crime rates, good schools and great local amenities, the next most important item to examine is the affordability of real estate in Olean. Everything else becomes a lot less important if it turns out that home prices in Olean are simply unattainable. The median home price for Olean homes is $76,700, which is 73.2% lower than the New York average. If we take a closer look at the affordability of homes in Olean, we’ll see that the home price to income ratio is 1.9, which is 59.6% lower than the New York average.
| Statistic | Olean | New York | National |
| Average one way commute | 16min | 33min | 26min |
| Workers who drive to work | 78.2% | 53.0% | 76.4% |
| Workers who carpool | 5.2% | 6.7% | 9.3% |
| Workers who take public transit | 2.2% | 28.0% | 5.1% |
| Workers who bicycle | 0.4% | 0.7% | 0.6% |
| Workers who walk | 8.5% | 6.3% | 2.8% |
| Working from home | 4.3% | 4.0% | 4.6% |
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