Odessa, TX—79761
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 $200,000, with a year-over-year change of 3.5%. This indicates that home prices in Odessa, TX are increasing. According to Zillow, the 1-year price projection is -2.6%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $200,000 | 3.5% |
| Single Family | $200,000 | 3.6% |
| 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 | 3.9% |
4 Bed | $300,000 | 2.7% |
| 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 $1,720, with a year-over-year rent change of 3.0%. Per bedroom, the median rent as of July '25 in Odessa, TX is studios: $1,400, 1-bedrooms: $1,120, 2-bedrooms: $1,530, 3-bedrooms: $2,040, 4-bedrooms: $2,050. The most common rental property sizes in Odessa, TX are 2-bedroom and 1-bedroom, accounting for 41.8% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,720 |
| Studio Rent | $1,600 | $1,400 |
| 1 Bed Rent | $1,100 | $1,120 |
| 2 Bed Rent | $1,500 | $1,530 |
| 3 Bed Rent | $2,000 | $2,040 |
| 4 Bed Rent | $1,800 | $2,050 |
% 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 52. This is a increase of 12.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $237,000 | 2.0% |
Listing Count | 68 | 19.0% |
| Listings as % of Homes | 0.6% | 19.0% |
Days on Market | 52 | 12.0% |
Demographics — Odessa, TX
As of the latest ACS Survey released in 2023, Odessa, TX has a population of 30,200, which has decreased by -10.9% over the past 5 years. Odessa, TX is a popular place for families, as children make up 29.8% of the population. The area has a poorly educated workforce, with 13.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,200 | -10.9% |
% Under 18 | 29.8% | 3.5% |
% Seniors | 10.7% | -5.3% |
% WFH | 1.2% | -42.9% |
% w/ College Degree | 13.6% | -12.3% |
As of the latest ACS Survey released in 2023, Odessa, TX is a predominantly hispanic area, with 66.8% of the population identifying as hispanic. The hispanic population has grown by 11.3% in the last 5 years. The second most common race or ethnicity in Odessa, TX is white, making up 22.5% of the population. Foreign-born residents account for 17.9% of the population in Odessa, TX, and this percentage has increased by 47.9% 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 | 22.5% | -29.2% |
% Black | 9.0% | 38.5% |
% Hispanic | 66.8% | 11.3% |
% Asian | 1.2% | 20.0% |
% Foreign Born | 17.9% | 47.9% |
Mortgage and Risk — Odessa, TX
According to HUD data as of 2023, there were 267 mortgage originations in Odessa, TX, of which 47.0% of loans were conventional mortgages. The average loan-to-value was 87.0%, with 68.0% above 90% LTV (very high). This implies large mortgage risk in Odessa, TX. Investor activity is low, as 4.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 267 |
% Conventional Loans | 47.0% |
% Government Loans | 53.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Odessa, TX
As of 2024, the percent of homes in Odessa, TX under the Section 8 program is 7.4%. 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 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Odessa, TX, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 516 |
Total Units Section 8 | 456 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 78.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $1,100 | $1,260 |
| 2 Bedroom | $130 | $1,500 | $1,630 |
| 3 Bedroom | -$40 | $2,000 | $1,960 |
| 4 Bedroom | $500 | $1,800 | $2,300 |
Affordability — Odessa, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $200,000 |
| Median Household Income | $69,300 |