It lies in the southwest part of the town of Ellicottville and is north of the city of Salamanca.

[3][4] The Holiday Valley ski resort is south of the village, and the Nannen Arboretum is north.

Property values in the town and village of Ellicottville have gentrified rapidly and are, as a result, much higher than the rest of the county.

A major "Fall Festival" is held each year, coinciding with Canadian Thanksgiving weekend (most of Ellicottville's tourists come from Canada) and the peak of the leaf peeping season.

The village of Ellicottville has strict zoning regulations prohibiting most chain franchises from operating in the village; its central business district is occupied mostly by taverns, boutiques and various similar small businesses.

Louisville Slugger baseball bats were manufactured in Ellicottville for a number of years; after that company's departure, the factory building was converted into a bowling alley.

Fitzpatrick & Weller, a wood products manufacturer, is the only currently operating factory in the village.

Several churches operate in Ellicottville, including Roman Catholic, Lutheran, and Episcopal denominations.

(Martin) Van Buren Street and (Millard) Fillmore Avenue were later additions to the grid.