Olean, NY vs Penn Yan, NY

Olean, NY and Penn Yan, NY have a very similar cost of living, with only a 1.6% difference in their overall index. Olean scores 67 while Penn Yan scores 69 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Olean is $786/month compared to $680/month in Penn Yan — a 16% difference. Interestingly, home values tell a different story: while Penn Yan has cheaper rent, Olean actually has lower median home values ($90,500 vs $143,000).

Median household income in Olean is $47,553 compared to $51,466 in Penn Yan (-7.6%). While Penn Yan is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Olean spend roughly 19.8% of their income on rent, more than the 15.9% in Penn Yan.

Climate-wise, both cities share similar average temperatures (45.9°F vs 48.7°F). Olean receives more rainfall at 41.9" per year compared to 30.2" in Penn Yan.