Odessa, Texas Housing Market Prices
Odessa Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 17% below the Texas median$215,981
-
Median rent 9% below the Texas median$1,282
Housing Market Overview
| Metric | Odessa | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,981 | $258,873 | $248,835 |
| Price Trend (Annual %) | 11.6% | 9.2% | 7.5% |
| Median Gross Rent | $1,282 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Odessa is about 17% lower than in Texas. Rent is about 9% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Odessa, up about 11.6% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Odessa rose about 40.1% between 2015 and 2024, from $915 to $1,282. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Odessa.
Buying the median-priced home in Odessa costs roughly 14.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Odessa. The price-to-rent ratio in Texas is about 15.4.
| Metric | Odessa | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,981 | $258,873 | $248,835 |
| Median Household Income | $71,535 | $78,939 | $80,455 |
| Price-to-Income Ratio | 3.0 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Odessa rose about 102.8%, while median household income rose about 56.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Odessa | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.8% | 56.7% | 58.5% |
| Rental Rate | 36.5% | 33.9% | 31.2% |
| Vacancy Rate | 6.7% | 9.4% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Odessa has a homeownership rate of 56.8%, about the same as the Texas average of 56.7%. Its housing vacancy rate is 6.7%, compared with 9.4% in Texas.
Housing Stock
| Metric | Odessa | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1978 | 1990 | 1978 |
| Median Number of Rooms | 5.1 | 5.4 | 5.5 |
The typical housing unit in Odessa was built around 1978. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 12.0 years on average.
Odessa, TX Housing Compared With Nearby Cities
How Odessa, TX compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Odessa, TX | 101,110 | $215,981 #1/2 | $1,282 #2/2 | 60.8% #2/2 |
| Midland, TX | 117,504 | $197,534 | $1,388 | 63.5% |
Frequently Asked Questions
Common questions about the housing market in Odessa, Texas.
What is the median home price in Odessa, Texas?
The median home price in Odessa, Texas is $215,981, lower than the Texas average of $258,873.
What is the average home price in Odessa, Texas?
The typical home price in Odessa, Texas, reported as the median sale price, is $215,981. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Odessa, Texas?
The median gross rent in Odessa, Texas is $1,282 per month, lower than the Texas average of $1,402.
What was the median gross rent in Odessa in 2020?
In 2020, the median gross rent in Odessa, Texas was $1,088 per month.
What is the price-to-rent ratio in Odessa, Texas?
The price-to-rent ratio in Odessa, Texas is about 14.0, meaning it would take roughly 14.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Odessa.
Are home prices or rent rising faster in Odessa, Texas?
Both home prices and rent are rising in Odessa, up about 11.6% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Odessa, Texas?
56.8% of households in Odessa, Texas own their home, about the same as the Texas average.
What is the vacancy rate in Odessa, Texas?
The housing vacancy rate in Odessa, Texas is 6.7%, lower than the Texas average of 9.4%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →