Cost of Living in Olean, NY
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
80.5
100 = national avg
-19.5 vs national average
Living Wage (1 Adult)
$35,431
per year
Living Wage (Family of 4)
$83,746
per year
Cost Index by Category
Housing81.5
Food86.3
Transportation69.6
Healthcare89.1
Utilities88.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$783
per month
2 Bedroom
$1,007
per month
The overall cost of living index in Olean is 80.5, which is 19.5% below the national average. Housing costs are below the national average at an index of 81.5. A single adult needs to earn approximately $35,431 per year to cover basic expenses.