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  4. /Olean, NY - 14760

Olean, NY—14760

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$125,000
2.6% YoY Growth
Household Income
$52,600
16.0% YoY Growth
Days on Market
48
8.0% Longer YoY
Home Price Forecast
1.6%
Median Rent
$800
7.9% YoY Growth
1-Bed Rent
$750
26.7% YoY Growth
2-Bed Rent
$800
3.2% YoY Growth
3-Bed Rent
$1,100
8.3% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Olean, NY

As of May '26, the median home price in Olean, NY is $125,000, with a year-over-year change of 2.6%. This indicates that home prices in Olean, NY are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$125,0002.6%
Single Family $125,0003.3%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $72,000
    -1.4%
    2 Bed
    		$102,0002.0%
    3 Bed
    		$126,0003.3%
    4 Bed
    		$145,0002.8%
    5 Bed $189,6984.7%
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    % of Housing Stock

    Studio
    3.9%
    1 Bedroom
    13.8%
    2 Bedrooms
    22.7%
    3 Bedrooms
    39.1%
    4 Bedrooms
    15.8%
    5+ Bedrooms
    4.6%

    Rental Trends — Olean, NY

    As of July '25, Rentcast reports the average rent in Olean, NY is $883, with a year-over-year rent change of 7.9%. Per bedroom, the median rent as of July '25 in Olean, NY is 1-bedrooms: $750, 2-bedrooms: $800, 3-bedrooms: $1,100. The most common rental property sizes in Olean, NY are 2-bedroom and 1-bedroom, accounting for 34.4% and 28.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$800$883
    Studio Rent N/AN/A
    1 Bed Rent $750$750
    2 Bed Rent $800$800
    3 Bed Rent $1,100$1,100
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    7.2%
    1 Bedroom
    28.6%
    2 Bedrooms
    34.4%
    3 Bedrooms
    24.3%
    4 Bedrooms
    3.6%
    5+ Bedrooms
    1.9%

    Property Listings — Olean, NY

    As of May '26, Realtor.com reports that the median days on market for a home in Olean, NY is 48. This is a increase of 8.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$145,00011.0%
    Listing Count
    		9738.0%
    Listings as % of Homes0.5%38.0%
    Days on Market
    		488.0%
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    Demographics — Olean, NY

    As of the latest ACS Survey released in 2023, Olean, NY has a population of 17,300, which has decreased by -4.9% over the past 5 years. Olean, NY is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 27.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		17,300-4.9%
    % Under 18
    		22.0%11.7%
    % Seniors
    		20.9%15.5%
    % WFH
    		7.8%333.3%
    % w/ College Degree
    		27.4%12.8%
    Loading chart...

    As of the latest ACS Survey released in 2023, Olean, NY is a predominantly white area, with 89.0% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Olean, NY is black, making up 1.9% of the population. Foreign-born residents account for 2.6% of the population in Olean, NY, and this percentage has increased by 18.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		89.0%-2.4%
    % Black
    		1.9%-48.6%
    % Hispanic
    		1.0%-23.1%
    % Asian
    		1.8%28.6%
    % Foreign Born
    		2.6%18.2%
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    Mortgage and Risk — Olean, NY

    According to HUD data as of 2023, there were 150 mortgage originations in Olean, NY, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Olean, NY. Investor activity is low, as 0.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		150
    % Conventional Loans
    		67.0%
    % Government Loans
    		33.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		4.0%
    % Cash Out Refinance
    		10.0%
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    Rentals and Section 8 — Olean, NY

    Olean, NY lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		664
    Total Units Section 8
    		310
    % Rentals under Section 8
    		N/A
    % Occupied Section 8
    		92.2%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$0$750$750
    2 Bedroom$170$800$970
    3 Bedroom$90$1,100$1,190
    4 BedroomN/AN/A$1,370

    Affordability — Olean, NY

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2
    Median Home Price$125,000
    Median Household Income$52,600

    Olean, NY — ZIP Code Boundary Map

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    Frequently Asked Questions