Cost of Living in Allegany County, New York

$754/mo

Median Monthly Rent

$97,900

Median Home Value

33% below state averageUnaffordable

At a Glance

Median Monthly Rent

$754/mo

33% below state average

Median Home Value

$97,900

65% below national

Rent-to-Income Ratio

28.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Allegany County Compares

Median monthly rent comparison

Allegany County$754/mo

New York Average$1,133/mo

National Median$1,163/mo

Detailed Housing Stats

$754/mo

Median Gross Rent

$97,900

Median Home Value

$762/mo

Monthly Owner Cost

28.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Allegany County, New York

Allegany offers rare affordability

Allegany County residents spend just 14.8% of income on rent—significantly below the national average of 17.0% and among the most affordable in the nation. Despite a median household income of $61,233, which trails the national median of $74,755 by $13,522, residents here enjoy housing costs that consume far less of their paychecks.

Most affordable county in New York

Allegany County ranks as one of New York's most affordable places, with a rent-to-income ratio of 14.8%—well below the state average of 17.6%. At just $754 monthly, median rent is $379 cheaper than the state average, making it a rare gem for budget-conscious New Yorkers.

Rural affordability champion

Allegany's $754 rent undercuts neighboring Cattaraugus County by just $5, but both drastically beat the state average and compete favorably with the most affordable rural counties nationwide. Home values of $97,900 represent some of the lowest in the state, offering genuine entry-level homeownership options.

Housing takes minimal income bite

Renters spend 14.8% of the $61,233 median income on a $754 monthly rent, while homeowners dedicate 15.0% to ownership costs ($762/month). Both figures leave substantially more disposable income for other expenses compared to state and national averages.

Seek authentic small-town living

If affordability is your north star and you don't require urban amenities, Allegany County delivers exceptional housing economics—rent and home prices that won't drain your budget. With a median home value under $100,000, first-time homebuyers can build equity without the crushing debt loads of metro areas.

Affordability Calculator

See how your income compares to housing costs in Allegany County

Your Annual Household Income

Rent Burden

14.8%

of gross income

Max Housing (28% Rule)

$1,429

per month

Owner Cost Burden

14.9%

of gross income

You can likely afford the median home in Allegany County

Median home value is $97,900. Estimated monthly cost: $782 vs. your max of $1,429.

Rent Affordability Guide

Your rent-to-income ratio14.8%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Allegany County, New York?

Allegany County, New York has a median monthly rent of $754/mo and a median home value of $97,900. The affordability rating is Unaffordable, with rent making up approximately 28.0% of median household income.

What is the median rent in Allegany County?

The median gross rent in Allegany County is $754/mo. This is 33% below state average for New York.

Is Allegany County affordable?

Allegany County is rated Unaffordable based on rent-to-income ratio of 28.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Allegany County's rent compare to the state average?

Allegany County's median rent of $754/mo is 33% below state average of $1,133/mo for New York.

What is the median home value in Allegany County?

The median home value in Allegany County, New York is $97,900. This is 65% below the national median home value of $281,900.