Housing affordability · NY · 2024
Allegany Housing Affordability
1st most affordable of 62 New York counties · price-to-income ratio
Allegany at a glance
Allegany is among the more accessible housing markets in New York on both ownership and rental measures — home prices relative to income sit below the state median at 1.6×, and renters face a lower-than-average cost burden.
At Allegany's median household income of $62,869, a renter paying the median monthly rent of $763 would commit 15% of gross annual income to housing — below the 30% threshold widely used to define cost burden.
For owner-occupied households, 9% spend more than 30% of their income on housing costs — the standard definition of owner cost burden.
Allegany FAQ
What is the median home price in Allegany?
The median home value in Allegany, NY is $101,700 (2024 ACS 5-year estimate). This is 76% below the New York state median of $423,800.
Is Allegany an affordable place to buy a home?
Allegany is rated Affordable on the USInsights affordability scale. The price-to-income ratio is 1.6×, meaning the median home costs roughly 1.6 years of median household income ($62,869). Under 3.5× is generally considered affordable.
What is the average rent in Allegany?
The median gross rent in Allegany is $763 per month (2024 ACS 5-year estimate). 41% of renters spend more than 30% of their income on housing. The New York state median is $1,621.
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