1st Advantage MortgageThe median Allegany County household earns $62,869, and 16% of residents live below the poverty line. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's New York license first.
On this page
- Getting oriented in Allegany County
- What it costs to live in Allegany County
- Paychecks and income spread in Allegany County
- How Allegany County residents earn a living
- Allegany County towns compared
- Allegany County and the counties next door
- People and households in Allegany County
- Borrowing situations common in Allegany County
- Budget math at the Allegany County median
- Checking a lender's license in New York
- Checklist for Allegany County applicants
- Nearby and statewide guides
- Frequently asked questions
Getting oriented in Allegany County
With an estimated 47,159 residents (ACS 2020 to 2024), Allegany County ranks 49th of 62 in New York for population. It covers 1,030 square miles of land, or about 46 people per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Of the 17 Census places inside Allegany County, Wellsville leads by population with about 4,923; 10 of the 17 are incorporated.
What it costs to live in Allegany County
A typical Allegany County rental runs $763 a month including utilities, which is 53% below New York. Rent takes 30% or more of income for 46% of renter households here. The median owner-occupied home is valued at $101,700, about 1.6 times the median household income. 79% of Allegany County households own their home and 21% rent.
| Measure | Allegany County | New York | Median U.S. county |
|---|---|---|---|
| Median gross rent | $763/mo | $1,621/mo | $877/mo |
| Median home value | $101,700 | $423,800 | $185,300 |
| Owners | 79% | 54% | 75% |
| Rent-burdened renters | 46% | 52% | 45% |
| Burdened owners | 21% | 33% | n/a |
| Mobile homes | 16.1% | 2.1% | n/a |
| Vacant units | 25% | 10% | n/a |
In an owner-heavy county like Allegany County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
Paychecks and income spread in Allegany County
The median household income in Allegany County is $62,869; statewide it is $85,974, so Allegany County runs 27% below New York as a whole. Only 56 New York counties post a higher median.
| Band | Allegany County | Compared with New York |
|---|---|---|
| Under $35,000 | 28.1% | +5.9 pts |
| $35,000 to $99,999 | 45.6% | +11.7 pts |
| $100,000 to $199,999 | 21.9% | -4.9 pts |
| $200,000 or more | 4.3% | -12.7 pts |
About 28% of households earn under $35,000, while 26% clear $100,000. 16.2% of residents fall below the federal poverty line (statewide: 14.0%). Income inequality, measured by the Gini index, comes to 0.426 here. Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.
How Allegany County residents earn a living
Education and health care employs 35% of working residents, the largest share; manufacturing is next with 11%. Manufacturing stands out: 11% of workers here, versus 6% statewide. ACS puts five-year average unemployment at 7.1% in Allegany County. Long commutes are the exception here: 13% of workers spend 45 minutes or longer getting to work. Only 7.7% of homes here go without a vehicle.
| Top industries | Allegany County share | +/- vs New York |
|---|---|---|
| Education and health care | 34.9% | +5.6 pts |
| Manufacturing | 11.4% | +5.7 pts |
| Retail trade | 11.3% | +1.8 pts |
| Arts, lodging and food service | 8.1% | 0.0 pts |
| Construction | 8.0% | +2.3 pts |
| Professional and administrative services | 5.5% | -7.8 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Allegany County towns compared
17 Census places fall mainly inside Allegany County; the 14 biggest are below. They account for 21,888 residents, leaving about 54% of the county in unincorporated, unnamed areas. Houghton has the highest median household income on the list ($83,571) and Friendship the lowest ($35,417), counting places with at least 500 residents. Median rent ranges from $461 in Bolivar to $1,010 in Houghton. None of the 17 has its own city guide, so this page covers all of them.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Wellsville | village | 4,923 | $55,096 | $713 | 10 mi |
| Alfred | village | 4,819 | $40,625 | $899 | 12 mi |
| Cuba | village | 1,807 | $61,776 | $770 | 13 mi |
| Houghton | CDP | 1,728 | $83,571 | $1,010 | 15 mi |
| Bolivar | village | 1,124 | $56,413 | $461 | 14 mi |
| Belmont | village | 955 | $65,313 | $688 | 2 mi |
| Andover | village | 915 | $66,136 | $689 | 13 mi |
| Scio | CDP | 727 | $57,143 | n/a | 6 mi |
| Friendship | CDP | 712 | $35,417 | $973 | 7 mi |
| Richburg | village | 650 | $47,083 | $931 | 13 mi |
| Stannards | CDP | 642 | $74,286 | $650 | 13 mi |
| Belfast | CDP | 633 | $56,250 | $507 | 8 mi |
| Angelica | village | 605 | $59,167 | $600 | 4 mi |
| Fillmore | CDP | 543 | $67,188 | $790 | 16 mi |
A CDP is a named community without its own municipal government.
Allegany County and the counties next door
Distances run center to center, from Cattaraugus County at 33 miles out to McKean County at 41. Income ranges from $59,020 in Potter County to $74,001 in Livingston County; 4 of these neighbors top Allegany County's median. Some neighbors are in Pennsylvania. Lender licensing is state by state, so a loan for a Allegany County resident follows New York rules.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Allegany County | - | $62,869 | $763/mo | 79% |
| Cattaraugus County, NY | 33 mi | $59,540 | $770/mo | 75% |
| Steuben County, NY | 33 mi | $65,887 | $894/mo | 73% |
| Wyoming County, NY | 33 mi | $69,110 | $802/mo | 76% |
| Potter County, PA | 35 mi | $59,020 | $809/mo | 80% |
| Livingston County, NY | 36 mi | $74,001 | $931/mo | 76% |
| McKean County, PA | 41 mi | $62,905 | $809/mo | 78% |
People and households in Allegany County
Degree holders: 25% of adults over 25. The uninsured rate is 5.2%, against 5.1% for New York.
| People and households | Allegany County | New York | Median county |
|---|---|---|---|
| Median age | 38.7 | 39.8 | 41.5 |
| Bachelor's or higher | 24.9% | 40.2% | 22.2% |
| No high school diploma | 8.3% | 12.0% | n/a |
| No health insurance | 5.2% | 5.1% | 7.8% |
| No vehicle | 7.7% | 29.2% | 5.4% |
| Work from home | 8.8% | 14.9% | 8.7% |
| Poverty rate | 16.2% | 14.0% | 13.2% |
| Unemployment (ACS) | 7.1% | 6.4% | 4.4% |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 41.0% |
| 15 to 29 min | 28.5% |
| 30 to 44 min | 17.9% |
| 45 to 59 min | 5.2% |
| 60+ min | 7.4% |
Borrowing situations common in Allegany County
Based on the Allegany County data above, these borrowing questions are most likely to matter locally.
- 16% mobile homes. Many are not titled as real estate, so home-equity options may not apply; an unsecured loan is the usual route.
- Tight rental budgets. With 46% of Allegany County renters cost-burdened, test a new payment against a lean month.
- Scams. A fee demanded before funding is a red flag; report it at ReportFraud.ftc.gov (spotting scams).
Budget math at the Allegany County median
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Allegany County household at the medians it works out like this; treat it as an illustration only.
- $62,869 a year is $5,239 of gross monthly income
- Rent at the median, $763, takes 15% of that
- At 43%, room after rent is $1,490 a month
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Allegany County's.
Checking a lender's license in New York
Before sharing details with a lender, a Allegany County resident can confirm its license with the New York State Department of Financial Services. A CFPB complaint gets forwarded to the company for a response. More on New York: New York personal loans.
Checklist for Allegany County applicants
Steps that save money for Allegany County residents:
- Write down what the expense costs; a smaller loan costs less.
- Shop at least three lenders, including one Allegany County-area credit union.
- Check the license, then the reviews, then the offer.
- Keep a small cushion so one surprise bill does not mean another loan.
Nearby and statewide guides
For statewide rules and data, see the New York guide.
Frequently asked questions
Is Allegany County a high-income county?
Its $62,869 median ranks 57th of 62 New York counties and compares with $65,681 for the median U.S. county.
How does Allegany County rent compare with New York?
$763 locally versus $1,621 for the state, 53% below.
I own my home in Allegany County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 79% of homes owner-occupied here, many readers can compare both in writing.
I live in a small Allegany County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Wellsville, Alfred, Cuba, Houghton, Bolivar and 12 more.
Does living in Allegany County change what I qualify for?
Not in our fit check, which uses only the amount, credit range, income and payments you enter, the same for a Allegany County resident as anyone. Lenders decide under fair-lending law.