Odessa, TX—79766
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 $269,000, with a year-over-year change of -2.1%. This indicates that home prices in Odessa, TX are decreasing. According to Zillow, the 1-year price projection is -2.7%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $269,000 | -2.1% |
| Single Family | $269,000 | -2.9% |
| 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 | N/A | N/A |
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 $3,110, with a year-over-year rent change of 38.2%. Per bedroom, the median rent as of July '25 in Odessa, TX is studios: $10,000, 1-bedrooms: $1,100, 3-bedrooms: $1,800, 4-bedrooms: $1,980. The most common rental property sizes in Odessa, TX are 3-bedroom and 2-bedroom, accounting for 61.9% and 23.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $3,110 |
| Studio Rent | $10,000 | $10,000 |
| 1 Bed Rent | $1,100 | $1,100 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,700 | $1,800 |
| 4 Bed Rent | $1,950 | $1,980 |
% 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 74. This is a increase of 2.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $288,000 | -8.0% |
Listing Count | 22 | 21.0% |
| Listings as % of Homes | 0.3% | 21.0% |
Days on Market | 74 | 2.0% |
Demographics — Odessa, TX
As of the latest ACS Survey released in 2023, Odessa, TX has a population of 10,700, which has increased by 57.2% over the past 5 years. Odessa, TX is a popular place for families, as children make up 30.3% of the population. The area has a poorly educated workforce, with 9.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,700 | 57.2% |
% Under 18 | 30.3% | -14.2% |
% Seniors | 5.7% | 3.6% |
% WFH | 4.8% | 54.8% |
% w/ College Degree | 9.9% | 54.7% |
As of the latest ACS Survey released in 2023, Odessa, TX is a predominantly hispanic area, with 68.3% of the population identifying as hispanic. The hispanic population has shrunk by 15.3% in the last 5 years. The second most common race or ethnicity in Odessa, TX is white, making up 24.6% of the population. Foreign-born residents account for 21.9% of the population in Odessa, TX, and this percentage has decreased by 0.9% 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 | 24.6% | 38.2% |
% Black | 2.8% | 75.0% |
% Hispanic | 68.3% | -15.3% |
% Asian | 0.4% | ∞% |
% Foreign Born | 21.9% | -0.9% |
Mortgage and Risk — Odessa, TX
According to HUD data as of 2023, there were 94 mortgage originations in Odessa, TX, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 92.0%, with 72.0% 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. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 94 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Odessa, TX
Odessa, TX lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $1,100 | $1,240 |
| 2 Bedroom | N/A | N/A | $1,460 |
| 3 Bedroom | $160 | $1,700 | $1,860 |
| 4 Bedroom | $510 | $1,950 | $2,460 |
Affordability — Odessa, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $269,000 |
| Median Household Income | $71,000 |