Photo: Andre Carrotflower · CC BY-SA 4.0On FEMA’s figures, Olean faces about as much hazard damage per building as the typical U.S. town, mostly from river and rain flooding
On FEMA’s National Risk Index, Olean gets a B for hazard risk: lower expected damage per building than 59% of U.S. towns, #457 of 758 in New York. Most of that expected damage is river and rain flooding (94%). Flood insurance has paid 14 claims here since 1981.
Graded on FEMA’s expected yearly building damage per dollar of building value (NRI v1.20, December 2025), weighted by where residents live; flood claims are shown, not graded. How hazard risk is graded
What Olean faces
Each hazard’s share of the building damage FEMA expects here, and how its rate compares with the rest of the country.
River and rain flooding
Shares are of FEMA’s expected building damage, the measure the grade uses; ranks compare each hazard’s building-damage rate with all 85,154 U.S. census tracts. In FEMA’s terms, river and rain flooding is FEMA’s “Inland Flooding” (rivers and streams overflowing their banks, or rain overwhelming drainage). FEMA defines coastal flooding as high or rising tides and storm surge, so surge damage is counted there. Drought isn’t listed: FEMA counts its losses in crops only.
What’s behind Olean’s grade
River and rain flooding is 94% of the building damage FEMA expects in Olean, and Olean’s rate of river and rain flooding damage is higher than 68% of U.S. census tracts.
B #457 of 758 in New York; lower expected damage per building than 59% of U.S. towns (21,298).
Olean’s residents live in 4 census tracts; FEMA’s figures are combined by where they live.
The typical New York town has lower expected damage than 69% of U.S. towns; within the state, Olean has more expected damage per building than 60% of New York towns.
In dollars, FEMA expects about $4.1M a year in losses across Olean: $3.4M to buildings, the rest to people and crops.
Does Olean flood? Sometimes: 14 flood claims since 1981
Every paid claim on a federal flood insurance policy in Olean, from FEMA’s records: 2.0 per 1,000 homes, fewer than 62% of the 13,809 U.S. towns with a flood insurance record.
Olean isn’t in FEMA’s Community Rating System, which cuts flood insurance up to 45% in towns that do extra flood-proofing.
Insurance rates: Cattaraugus County.3 federal disasters brought FEMA money to Olean
Disasters that paid out in Olean itself (aid to households or repair grants to the City of Olean), newest first, with that year’s flood claims.
- 2009Severe Storms and Flooding3 households applied for aid$2K aid approved
- 2004Severe Storms and Flooding2 households applied for aid$716 aid approved1 flood claim paid that year
- 2003Severe Storms, Flooding, and Tornadoes99 households applied for aid$115K aid approved4 flood claims paid that year
Cattaraugus County has had 20 natural disasters declared by the President since 1953, most often winter storms, then severe storms. Not counted: the 2005 Hurricane Katrina evacuee emergency, which covered counties that took in evacuees; the 2001 World Trade Center declarations.
Old photos of Olean after a storm or flood belong in the town’s history. Add one, or share what you remember below.
Add to the Olean archive →Olean and its neighbors
Olean has the lowest expected damage per building of the 3 graded towns here. Tap a town to see its hazards.
| Town | Hazard risk | Mostly (buildings) | Flood claims |
|---|---|---|---|
| Olean | Bless damage than 59% | river and rain flooding | 14 |
| Olean | C+more damage than 63% | river and rain flooding | 21 |
| Allegany | Cmore damage than 66% | river and rain flooding | 13 |
| Weston Mills | — | a Census area inside a town; graded with the town | |
Hazard risk = FEMA’s expected yearly building damage per dollar of building value, vs. the 21,298 U.S. towns we grade; the map is shaded by fifths of the same scale. Flood claims = paid federal flood insurance claims on record.
Get ready for what Olean faces
A short kit for the hazards that drive the building damage here, what to check before you buy, and where neighbors get alerts.
- Turn around at flooded roads: a foot of moving water can carry off a car.
- Flood insurance usually takes 30 days to start, so buy it before the forecast.
- Keep papers and medicines up high, in a grab-and-go bag.
- Look up the address on FEMA’s flood map.
- Ask the seller or landlord whether it has ever flooded, and what flood insurance costs there.
- Get a flood insurance quote early: policies usually start 30 days after you buy.
Know where neighbors sign up for alerts? Add it to the Handbook so everyone has it.
Questions about natural hazards in Olean
Is Olean at risk for natural disasters?
On FEMA’s National Risk Index, Olean has lower expected damage per building than 59% of U.S. towns: B for hazard risk, #457 of 758 in New York. Most of the expected damage is river and rain flooding (94%). This is FEMA’s model of an average year for today’s buildings, not a forecast.
Does Olean flood?
Flood insurance has paid 14 claims in Olean since 1981, $215K in all, or 2.0 per 1,000 homes, fewer than 62% of U.S. towns with a flood insurance record.
Is Olean in a flood zone?
Flood zones are drawn street by street, so the answer depends on the address: look it up on FEMA’s flood map. In Cattaraugus County, 1.0% of all homes carry federal flood insurance.
How much is flood insurance in Olean?
FEMA’s Community Rating System list shows no discount for Olean’s flood program. Premiums depend on the building; policies usually start 30 days after you buy, so get a quote early.
What was the biggest storm in Olean?
By FEMA money that reached Olean, Severe Storms, Flooding, and Tornadoes (2003): 99 households applied for aid, $115K approved.
Is Olean at risk from river and rain flooding?
It is the largest share of the building damage FEMA expects here (94%), and Olean’s rate for it is higher than 68% of U.S. census tracts.
Storm stories
Memories, warnings and help from neighbors in Olean.
Sources: FEMA National Risk Index v1.20 (December 2025), census-tract table, combined by where Olean’s residents lived in the 2020 census; OpenFEMA: NFIP redacted claims, multiple-loss properties, community status book and residential penetration rates, housing assistance (owners and renters), public assistance funded projects, hazard mitigation properties and disaster declarations. Homes: Census ACS 2020–24. Preparedness tips: Ready.gov. FEMA’s model is an average of expected damage, not a forecast. How hazard risk is graded.