Olean, NY Real Estate
According to census data in the year 2000 there were 7,121 housing units in Olean.
This represents a 3.1% decline from 7,351 in 1990.
Of those housing units, 7,121 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Olean is about 58.8%.
Olean's vacancy rate, including seasonal lodging, is about 9.5%.
Average household size is 2.29 people.
The majority of houses, apartments or condos in Olean were built after 1939.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.20% |
| One Bedroom | 13.40% |
| Two Bedrooms | 24.40% |
| Three Bedrooms | 40.20% |
| Four Bedrooms | 16.40% |
| Five Bedrooms or more | 3.30% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.45 |
| Median year structure was built | 1939 |
| Median Value of occupied units | $58,900 |
| Median Price asked for vacant units | $26,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.06 |
| Median year structure was built | 1940 |
| Median Monthly Rent asked for vacant units | $365 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 0.90% |
| Home Equity Loan | 7.40% |
| Simple Mortgage | 49.80% |
| Debt Free | 41.50% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.6% |
