This was 15.4 percent higher than the state average of 46.3 percent. In 2020 the total municipality population reached 1,981.
96.6 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Allegany for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 41 | 3.4 |
| Regular high school diploma | 217 | 18.3 |
| GED or alternative credential | 39 | 3.3 |
| Some college, less than 1 year | 67 | 5.6 |
| Some college, 1 or more years, no degree | 91 | 7.7 |
| Associate's degree | 195 | 16.4 |
| Bachelor's degree | 258 | 21.7 |
| Master's degree | 252 | 21.2 |
| Professional school degree | 12 | 1 |
| Doctorate degree | 17 | 1.4 |
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