Odessa, TX—79764
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Odessa, TX
As of Oct '25, the median home price in Odessa, TX is $211,000, with a year-over-year change of -0.8%. This indicates that home prices in Odessa, TX are flat. According to Zillow, the 1-year price projection is -2.5%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $211,000 | -0.8% |
| Single Family | $211,000 | -0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $241,000 | 3.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Odessa, TX
As of July '25, Rentcast reports the average rent in Odessa, TX is $1,960, with a year-over-year rent change of 1.6%. Per bedroom, the median rent as of July '25 in Odessa, TX is 1-bedrooms: $1,200, 2-bedrooms: $1,100, 3-bedrooms: $2,040, 4-bedrooms: $2,800. The most common rental property sizes in Odessa, TX are 3-bedroom and 2-bedroom, accounting for 42.6% and 34.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $1,960 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,200 |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $2,000 | $2,040 |
| 4 Bed Rent | $2,000 | $2,800 |
% of Rental Stock
Property Listings — Odessa, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Odessa, TX is 64. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $351,000 | 3.0% |
Listing Count | 52 | 52.0% |
| Listings as % of Homes | 0.4% | 52.0% |
Days on Market | 64 | -23.0% |
Demographics — Odessa, TX
As of the latest ACS Survey released in 2023, Odessa, TX has a population of 26,800, which has increased by 23.6% over the past 5 years. Odessa, TX is a popular place for families, as children make up 31.7% of the population. The area has a poorly educated workforce, with 19.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,800 | 23.6% |
% Under 18 | 31.7% | 5.0% |
% Seniors | 8.2% | -13.7% |
% WFH | 3.6% | 125.0% |
% w/ College Degree | 19.7% | 169.9% |
As of the latest ACS Survey released in 2023, Odessa, TX is a predominantly hispanic area, with 59.3% of the population identifying as hispanic. The hispanic population has shrunk by 13.7% in the last 5 years. The second most common race or ethnicity in Odessa, TX is white, making up 36.5% of the population. Foreign-born residents account for 19.8% of the population in Odessa, TX, and this percentage has increased by 18.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 36.5% | 36.2% |
% Black | 2.6% | -7.1% |
% Hispanic | 59.3% | -13.7% |
% Asian | 1.2% | 200.0% |
% Foreign Born | 19.8% | 18.6% |
Mortgage and Risk — Odessa, TX
According to HUD data as of 2023, there were 247 mortgage originations in Odessa, TX, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 88.0%, with 66.0% above 90% LTV (very high). This implies large mortgage risk in Odessa, TX. Investor activity is low, as 3.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 247 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Odessa, TX
As of 2024, the percent of homes in Odessa, TX under the Section 8 program is 3.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Odessa, TX, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 92 |
Total Units Section 8 | 92 |
% Rentals under Section 8 | 3.3% |
% Occupied Section 8 | 75.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$180 | $1,200 | $1,020 |
| 2 Bedroom | $240 | $1,100 | $1,340 |
| 3 Bedroom | -$380 | $2,000 | $1,620 |
| 4 Bedroom | -$100 | $2,000 | $1,900 |
Affordability — Odessa, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $211,000 |
| Median Household Income | $68,400 |