Olean town, NY Economy


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Olean town, NY is a small town located in the southwestern part of New York State. It is known for its friendly people, beautiful scenery, and wide range of local businesses. Companies in Olean include BH Technologies, C&G Nursery, Damon's Supermarket, Olean Wholesale Grocery Co., and more. The cost of living in Olean is very affordable compared to the US average. While the national average 2 bedroom rent is $1,430, 2 bedroom rent in Olean town is only $820. Similarly, grocery cost index in Olean town is 95 versus 100 in the US. This proves that Olean offers much lower costs of living than other places within the United States. All these factors make it an ideal place to live or visit for both short and long periods

Olean town has an unemployment rate of 7.2%. The US average is 6.0%.

Olean town has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 15.6%, which is lower than the US average of 33.5%.

Tax Rates for Olean town
- The Sales Tax Rate for Olean town is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Olean town is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Olean town
- The average income of a Olean town resident is $25,816 a year. The US average is $28,555 a year.
- The Median household income of a Olean town resident is $68,750 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyOlean town, New YorkUnited States
  7.26
  -6.1%-6.2%
  15.6%33.5%
  8.0%6.2%
  6.2%4.6%
  $35,278$37,638
  $68,750$69,021
  $80,469$85,028
  Population by Occupation
  0.0%1.2%
  0.6%0.5%
  2.9%6.8%
  15.5%10.0%
  5.5%2.5%
  9.9%11.0%
  2.4%4.8%
  3.1%0.8%
  1.2%1.9%
  4.3%4.7%
  0.5%1.9%
  1.0%7.6%
  0.0%0.1%
  3.8%4.2%
  13.8%9.3%
  17.1%14.0%
  1.9%2.1%
  6.8%7.0%
  6.0%4.8%
  3.8%4.7%
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