Allegany, NY vs Wells, NY

Allegany is moderately more affordable than Wells, with a 10.2% lower cost of living index. Allegany scores 72 compared to 80 for Wells, where the US average is 100. This difference means residents of Wells can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Allegany is $767/month compared to $763/month in Wells — a 1% difference. Interestingly, home values tell a different story: while Wells has cheaper rent, Allegany actually has lower median home values ($152,000 vs $252,900).

Median household income in Allegany is $73,802 compared to $78,047 in Wells (-5.4%). The higher salaries in Wells partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Allegany spend roughly 12.5% of their income on rent, more than the 11.7% in Wells.