Rent to own Homes in Olean, NY
The largest city in Cattaraugus County, New York, Olean serves as a popular hub for entertainment and business in the area. When Cattaraugus County was originally formed in 1808, the entire area was named the Town of Olean, but over time other communities began to branch off. In 1837, the modern borders were formed, and in 1854 the city was incorporated. According to the most recent census data, Olean now has a population of 14,452 and includes 6.2 square miles of land.
Olean, NY is a great place for affordable rent-to-own homes! With a median household income of over $41,500 and a median rent of $640, the Olean, NY rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Olean, NY. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Olean, NY Property Resources
Rent to own Homes in Cities Near Olean, NY
- Alfred
- Alfred Station
- Alma
- Almond
- Andover
- Angelica
- Belfast
- Belmont
- Black Creek
- Bolivar
- Caneadea
- Ceres
- Coudersport
- Cuba
- Fillmore
- Friendship
- Genesee
- Greenwood
- Harrison Valley
- Hornell
- Houghton
- Little Genesee
- Mills
- North Hornell
- Oswayo
- Rexville
- Richburg
- Scio
- Shinglehouse
- Stannards
- Swain
- Sweden Valley
- Troupsburg
- Turtlepoint
- Ulysses
- Wellsville
- Whitesville
Neighborhoods in Olean, NY
No neighborhoods foundPopular Zip Codes in Olean, NY
14760 rent to own homesBuying a Home in Olean, NY
Olean, NY is seeing rapid growth and Olean, NY's' housing market remains optimal with an average home price that is -65% below the 2024 national average. Olean, NY is part of Cattaraugus county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Cattaraugus is 2.67% which is above the national average, which is 0.99%.
Median Home Price in Olean, NY
Median Rent in Olean, NY
6 Reasons to Live in Olean, NY
Extremely affordable housing market! The median price of homes for sale in Olean is well below the national average, offering residents an opportunity to get some great houses at a price much less than what they would cost in many other areas of the country. The South Olean neighborhood has some great options available. If you're expecting something larger, Baldwin Heights may be the place to explore. Naturally, you can also find rent to own homes.
Very reasonable rentals! For those who prefer to check out homes for rent, the area is also known for having very affordable rental units. If the idea of renting a home is a bit intimidating, the area apartments are just as affordable and offer some great amenities. Derby Apartments is one of the notable complexes in the city. Alternatively, Aspen Tower offers some great opportunities for those looking for a great unit.
Get some fresh air! Having a well-maintained Parks Department is one of the greatest parts of living in a smaller city. Olean delivers with around a dozen different parks. One of the largest in the area is Forness Park, which offers a variety of athletic fields, pavilions, and grills to enjoy. If you'd prefer a short walk in a wooded area, Oakhill Park offers just that.
Taste the local flavors! Another staple of a small town is the local restaurants that you will find there. Brother's Bistro is one of the local favorites, offering delicious meals at a great price. Beef 'n' Barrel is a local steakhouse that serves some of the best steaks in New York.
Spend some time with friends! If you're looking for recreation, you might want to check out Good Times of Olean, which offers bowling. Alternatively, you can grab a slice of pizza at Tasta Pizza while you enjoy a good game of mini golf.
Enjoy the nightlife! At the end of a long week, nothing is more satisfying than a good drink. The Plant Tavern is one of the local spots you'll definitely want to explore. The more humorously named Don's Semi-Friendly Tavern also has great prices and a pleasantly inviting atmosphere.