Alfred, NY vs Olean, NY

Olean is moderately more affordable than Alfred, with a 10.5% lower cost of living index. Alfred scores 75 compared to 67 for Olean, where the US average is 100. This difference means residents of Alfred can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Alfred is $807/month compared to $786/month in Olean — a 3% difference. Home values follow the same pattern: Olean is more affordable at $90,500 median vs $169,100.

Median household income in Alfred is $45,357 compared to $47,553 in Olean (-4.6%). Olean offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Alfred spend roughly 21.4% of their income on rent, more than the 19.8% in Olean.

Climate-wise, both cities share similar average temperatures (46.4°F vs 45.9°F). Olean receives more rainfall at 41.9" per year compared to 37.2" in Alfred.