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.


Housing Size

Housing Units by Size
Studio Type2.20%
One Bedroom13.40%
Two Bedrooms24.40%
Three Bedrooms40.20%
Four Bedrooms16.40%
Five Bedrooms or more3.30%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.45
Median year structure was built1939
Median Value of occupied units$58,900
Median Price asked for vacant units$26,800

Rented Homes, Apartments and Condos

Average Household Size2.06
Median year structure was built1940
Median Monthly Rent asked for vacant units$365

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.30%
Second Mortgage0.90%
Home Equity Loan7.40%
Simple Mortgage49.80%
Debt Free41.50%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs16.6%