Allegany, NY—14706
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Allegany, NY
As of Oct '25, the median home price in Allegany, NY is $198,000, with a year-over-year change of 4.1%. This indicates that home prices in Allegany, NY are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $198,000 | 4.1% |
| Single Family | $198,000 | 4.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $144,000 | 4.3% |
3 Bed | $195,000 | 4.8% |
4 Bed | $247,000 | 4.7% |
| 5 Bed | $294,000 | 5.8% |
% of Housing Stock
Rental Trends — Allegany, NY
As of July '25, Rentcast reports the average rent in Allegany, NY is $1,250, with a year-over-year rent change of 56.2%. Per bedroom, the median rent as of July '25 in Allegany, NY is 2-bedrooms: $900, 3-bedrooms: $1,600. The most common rental property sizes in Allegany, NY are 2-bedroom and 3-bedroom, accounting for 31.6% and 27.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $1,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $900 | $900 |
| 3 Bed Rent | $1,600 | $1,600 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Allegany, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Allegany, NY is 60. This is a increase of 31.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $220,000 | -23.0% |
Listing Count | 21 | 34.0% |
| Listings as % of Homes | 0.4% | 34.0% |
Days on Market | 60 | 31.0% |
Demographics — Allegany, NY
As of the latest ACS Survey released in 2023, Allegany, NY has a population of 6,120, which has decreased by -1.1% over the past 5 years. Allegany, NY is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 34.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,120 | -1.1% |
% Under 18 | 21.2% | 9.8% |
% Seniors | 24.0% | 2.6% |
% WFH | 10.0% | 222.6% |
% w/ College Degree | 34.6% | 21.8% |
As of the latest ACS Survey released in 2023, Allegany, NY is a predominantly white area, with 88.0% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Allegany, NY is black, making up 3.1% of the population. Foreign-born residents account for 1.9% of the population in Allegany, NY, and this percentage has decreased by 32.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.0% | -6.9% |
% Black | 3.1% | 287.5% |
% Hispanic | 0.8% | -42.9% |
% Asian | 1.7% | 0.0% |
% Foreign Born | 1.9% | -32.1% |
Mortgage and Risk — Allegany, NY
According to HUD data as of 2023, there were 64 mortgage originations in Allegany, NY, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Allegany, NY. Investor activity is low, as 2.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 64 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Allegany, NY
Allegany, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | $80 | $900 | $980 |
| 3 Bedroom | -$400 | $1,600 | $1,200 |
| 4 Bedroom | N/A | N/A | $1,380 |
Affordability — Allegany, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $198,000 |
| Median Household Income | $76,000 |