Olean, NY—14760
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Olean, NY
As of Oct '25, the median home price in Olean, NY is $118,000, with a year-over-year change of 0.3%. This indicates that home prices in Olean, NY are flat. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $118,000 | 0.3% |
| Single Family | $118,000 | 0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $69,000 | -6.8% |
2 Bed | $98,000 | -1.0% |
3 Bed | $119,000 | 0.8% |
4 Bed | $137,000 | 1.5% |
| 5 Bed | $179,000 | 3.5% |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $883 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $750 |
| 2 Bed Rent | $800 | $800 |
| 3 Bed Rent | $1,100 | $1,100 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Olean, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Olean, NY is 64. This is a increase of 53.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $143,000 | 20.0% |
Listing Count | 83 | 24.0% |
| Listings as % of Homes | 0.5% | 24.0% |
Days on Market | 64 | 53.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $0 | $750 | $750 |
| 2 Bedroom | $170 | $800 | $970 |
| 3 Bedroom | $90 | $1,100 | $1,190 |
| 4 Bedroom | N/A | N/A | $1,370 |
Affordability — Olean, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $118,000 |
| Median Household Income | $52,600 |