Odessa, TX—79765
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 $331,000, with a year-over-year change of 2.9%. This indicates that home prices in Odessa, TX are increasing. According to Zillow, the 1-year price projection is -1.2%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $331,000 | 2.9% |
| Single Family | $331,000 | 3.1% |
| 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 | $297,000 | 3.5% |
4 Bed | $385,000 | 2.9% |
| 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 $2,580, with a year-over-year rent change of -9.2%. Per bedroom, the median rent as of July '25 in Odessa, TX is studios: $1,800, 1-bedrooms: $1,050, 2-bedrooms: $2,690, 3-bedrooms: $2,520, 4-bedrooms: $3,150. The most common rental property sizes in Odessa, TX are 1-bedroom and 2-bedroom, accounting for 40.5% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,580 |
| Studio Rent | $1,800 | $1,800 |
| 1 Bed Rent | $800 | $1,050 |
| 2 Bed Rent | $2,180 | $2,690 |
| 3 Bed Rent | $2,400 | $2,520 |
| 4 Bed Rent | $3,000 | $3,150 |
% 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 41. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $368,000 | -2.0% |
Listing Count | 163 | 15.0% |
| Listings as % of Homes | 1.8% | 15.0% |
Days on Market | 41 | 1.0% |
Demographics — Odessa, TX
As of the latest ACS Survey released in 2023, Odessa, TX has a population of 24,100, which has increased by 63.2% over the past 5 years. Odessa, TX is a popular place for families, as children make up 32.4% of the population. The area has a moderately educated workforce, with 26.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,100 | 63.2% |
% Under 18 | 32.4% | 12.1% |
% Seniors | 5.9% | -27.2% |
% WFH | 3.1% | 47.6% |
% w/ College Degree | 26.2% | -30.1% |
As of the latest ACS Survey released in 2023, Odessa, TX is a predominantly hispanic area, with 48.7% of the population identifying as hispanic. The hispanic population has grown by 19.7% in the last 5 years. The second most common race or ethnicity in Odessa, TX is white, making up 41.4% of the population. Foreign-born residents account for 10.1% of the population in Odessa, TX, and this percentage has decreased by 35.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 41.4% | -10.0% |
% Black | 5.8% | 61.1% |
% Hispanic | 48.7% | 19.7% |
% Asian | 3.5% | -59.8% |
% Foreign Born | 10.1% | -35.3% |
Mortgage and Risk — Odessa, TX
According to HUD data as of 2023, there were 948 mortgage originations in Odessa, TX, of which 35.0% of loans were conventional mortgages. The average loan-to-value was 90.0%, with 74.0% above 90% LTV (very high). This implies large mortgage risk in Odessa, TX. Investor activity is low, as 2.0% of loans were by investors. 1.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 948 |
% Conventional Loans | 35.0% |
% Government Loans | 65.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 1.0% |
Loan Activity
Rentals and Section 8 — Odessa, TX
As of 2024, the percent of homes in Odessa, TX under the Section 8 program is 5.4%. 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. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Odessa, TX, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 210 |
Total Units Section 8 | 210 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 75.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $800 | $800 | $1,600 |
| 2 Bedroom | -$170 | $2,180 | $2,010 |
| 3 Bedroom | $60 | $2,400 | $2,460 |
| 4 Bedroom | -$70 | $3,000 | $2,930 |
Affordability — Odessa, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $331,000 |
| Median Household Income | $101,000 |