Allegany County, New York Housing Market Prices
Allegany County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 79% below the New York median Cheaper than 82% of counties in New York$97,005
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Median rent 53% below the New York median Cheapest county in New York$763
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Allegany County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,005 | $471,885 | $248,835 |
| Price Trend (Annual %) | 7.8% | 7.1% | 7.5% |
| Median Gross Rent | $763 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Allegany County is about 79% lower than in New York. Rent is about 53% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Allegany County, up about 7.8% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Allegany County rose about 26.0% between 2015 and 2024, from $605 to $763. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Allegany County.
Buying the median-priced home in Allegany County costs roughly 10.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Allegany County. The price-to-rent ratio in New York is about 24.3.
| Metric | Allegany County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,005 | $471,885 | $248,835 |
| Median Household Income | $63,166 | $86,556 | $80,455 |
| Price-to-Income Ratio | 1.5 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Allegany County rose about 70.4%, while median household income rose about 45.8% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Allegany County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.6% | 48.8% | 58.5% |
| Rental Rate | 15.6% | 41.1% | 31.2% |
| Vacancy Rate | 24.8% | 10.1% | 10.2% |
| Median Tenure (years) | 19.0 | 17.0 | 15.0 |
| Median Year Moved In | 2007 | 2009 | 2011 |
Allegany County has a homeownership rate of 59.6%, higher than the New York average of 48.8%. Its housing vacancy rate is 24.8%, compared with 10.1% in New York.
Housing Stock
| Metric | Allegany County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1962 | 1960 | 1978 |
| Median Number of Rooms | 5.8 | 5.0 | 5.5 |
The typical housing unit in Allegany County was built around 1962. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 19.0 years on average.
Allegany County, NY Housing Compared With Nearby Counties
Allegany County, NY is the 4th largest of the 6 counties compared here, 47,155 residents against a local median of 61,495. Nothing separates Allegany County, NY sharply from the counties around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is median rent, 6% below the local median at $763 against $809. Allegany County, NY has the 6th highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Allegany County, NY | 47,155 | $97,005 #4/6 | $763 #6/6 | 79.3% #2/6 |
| Wyoming County, NY | 39,775 | $571,081 | $802 | 75.9% |
| Potter County, PA | 16,191 | $69,994 | $809 | 79.7% |
| Livingston County, NY | 61,495 | $83,371 | $931 | 76.3% |
| Steuben County, NY | 92,584 | $102,604 | $893 | 73.3% |
| Cattaraugus County, NY | 76,141 | $101,562 | $770 | 75.2% |
Frequently Asked Questions
Common questions about the housing market in Allegany County, New York.
What is the median home price in Allegany County, New York?
The median home price in Allegany County, New York is $97,005, lower than the New York average of $471,885.
What is the average home price in Allegany County, New York?
The typical home price in Allegany County, New York, reported as the median sale price, is $97,005. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Allegany County, New York?
The median gross rent in Allegany County, New York is $763 per month, lower than the New York average of $1,621.
What was the median gross rent in Allegany County in 2020?
In 2020, the median gross rent in Allegany County, New York was $659 per month.
What is the price-to-rent ratio in Allegany County, New York?
The price-to-rent ratio in Allegany County, New York is about 10.6, meaning it would take roughly 10.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Allegany County.
Are home prices or rent rising faster in Allegany County, New York?
Both home prices and rent are rising in Allegany County, up about 7.8% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Allegany County, New York?
59.6% of households in Allegany County, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Allegany County, New York?
The housing vacancy rate in Allegany County, New York is 24.8%, higher than the New York average of 10.1%.
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