West Odessa, Texas Housing Market Prices
West 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.
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Median home price 83% below the Texas median$45,033
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Median rent 37% below the Texas median$885
Housing Market Overview
| Metric | West Odessa | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,033 | $258,873 | $248,835 |
| Price Trend (Annual %) | 36.5% | 9.2% | 7.5% |
| Median Gross Rent | $885 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 1.0% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in West Odessa is about 83% lower than in Texas. Rent is about 37% 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 West Odessa, up about 36.5% and 1.0% a year respectively. Home prices are changing faster.
Median rent in West Odessa rose about 8.3% between 2015 and 2024, from $818 to $885. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in West Odessa.
Buying the median-priced home in West Odessa costs roughly 4.2 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 West Odessa. The price-to-rent ratio in Texas is about 15.4.
| Metric | West Odessa | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,033 | $258,873 | $248,835 |
| Median Household Income | $64,854 | $78,939 | $80,455 |
| Price-to-Income Ratio | 0.7 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in West Odessa fell about 38.5%, while median household income rose about 46.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | West Odessa | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.3% | 56.7% | 58.5% |
| Rental Rate | 22.9% | 33.9% | 31.2% |
| Vacancy Rate | 6.8% | 9.4% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
West Odessa has a homeownership rate of 70.3%, higher than the Texas average of 56.7%. Its housing vacancy rate is 6.8%, compared with 9.4% in Texas.
Housing Stock
| Metric | West Odessa | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1991 | 1990 | 1978 |
| Median Number of Rooms | 5.0 | 5.4 | 5.5 |
The typical housing unit in West Odessa was built around 1991. On average, 2.7 people live in a home with about 5.0 rooms, staying for about 12.0 years on average.
West Odessa, TX Housing Compared With Nearby Cities
How West Odessa, TX compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| West Odessa, TX | 32,106 | $45,033 #3/3 | $885 #3/3 | 75.4% #1/3 |
| Odessa, TX | 101,110 | $215,981 | $1,282 | 60.8% |
| Midland, TX | 117,504 | $197,534 | $1,388 | 63.5% |
Frequently Asked Questions
Common questions about the housing market in West Odessa, Texas.
What is the median home price in West Odessa, Texas?
The median home price in West Odessa, Texas is $45,033, lower than the Texas average of $258,873.
What is the average home price in West Odessa, Texas?
The typical home price in West Odessa, Texas, reported as the median sale price, is $45,033. 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 West Odessa, Texas?
The median gross rent in West Odessa, Texas is $885 per month, lower than the Texas average of $1,402.
What was the median gross rent in West Odessa in 2020?
In 2020, the median gross rent in West Odessa, Texas was $888 per month.
What is the price-to-rent ratio in West Odessa, Texas?
The price-to-rent ratio in West Odessa, Texas is about 4.2, meaning it would take roughly 4.2 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 West Odessa.
Are home prices or rent rising faster in West Odessa, Texas?
Both home prices and rent are rising in West Odessa, up about 36.5% and 1.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in West Odessa, Texas?
70.3% of households in West Odessa, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in West Odessa, Texas?
The housing vacancy rate in West Odessa, Texas is 6.8%, lower than the Texas average of 9.4%.
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