The cost of living index in Olean, NY, is notably lower than the nationwide average of 100. Specifically, Olean's overall cost of living stands at 87, reflecting a 13% reduction compared to the national average. This lower cost of living makes Olean an attractive option for job seekers looking to balance affordability with quality of life.
The cost of living in Olean, NY, compared to the nationwide average, shows some notable differences. Housing costs in Olean are 20% lower than the national average, with an index of 80. This means that residents can find housing that is more affordable, making it easier to manage living expenses. Groceries in Olean are slightly above the national average, with an index of 90, indicating a 10% increase in grocery costs. This might require some budget adjustments for those who spend a significant portion of their income on food.
Utilities, transportation, healthcare, and miscellaneous costs also have their own unique comparisons. Utilities in Olean are 5% higher than the national average, with an index of 95. Transportation costs are 15% lower, at 85, which can be a saving grace for those who rely on personal vehicles. Healthcare costs are 2% higher, with an index of 92, while miscellaneous costs are also 8% lower, at 88. These variations highlight the importance of considering the full spectrum of living expenses when evaluating the cost of living in Olean, NY.
