Olean, NY home prices
Typical home $168,279 · +4.6% in a year · income needed $58,300
The Olean, NY metro area ranks 764 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +4.6% in a year and +33.6% over five years. With 20% down at 7.11%, the typical home costs about $1,361 a month including 2.64% property tax (Cattaraugus County rate).
Mortgage on the typical Olean home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $33,656 | $134,623 | $906 | $0 | $455 | $1,361 | $58,300 |
| 10% down | $16,828 | $151,451 | $1,019 | $63 | $455 | $1,537 | $65,900 |
| 5% down | $8,414 | $159,865 | $1,075 | $67 | $455 | $1,597 | $68,400 |
| 3.5% down (FHA) | $5,890 | $165,231 | $1,112 | $74 | $455 | $1,641 | $70,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 2.64% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Olean area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Cattaraugus County, NY | $168,287 | +4.6% | 2.64% |
What can you afford in New York on your salary? · New York home prices · Salaries in New York
Frequently asked questions
How much is a house in Olean?
The typical home in the Olean, NY metro area is worth $168,279 (Zillow, September 2026).
What salary do you need to buy a house in Olean?
About $58,300 a year for the typical home with 20% down at 7.11%.