Odessa, TX—79762
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 $253,000, with a year-over-year change of 3.9%. This indicates that home prices in Odessa, TX are increasing. According to Zillow, the 1-year price projection is -2.0%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $253,000 | 3.9% |
| Single Family | $255,000 | 3.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $172,000 | 4.2% |
3 Bed | $255,000 | 3.2% |
4 Bed | $326,000 | 1.6% |
| 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 $1,950, with a year-over-year rent change of -2.0%. Per bedroom, the median rent as of July '25 in Odessa, TX is 1-bedrooms: $1,150, 2-bedrooms: $1,660, 3-bedrooms: $2,140, 4-bedrooms: $2,880. The most common rental property sizes in Odessa, TX are 2-bedroom and 1-bedroom, accounting for 36.0% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,950 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,190 | $1,150 |
| 2 Bed Rent | $1,450 | $1,660 |
| 3 Bed Rent | $2,100 | $2,140 |
| 4 Bed Rent | $2,750 | $2,880 |
% 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 44. This is a decrease of -11.0% 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 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 | $270,000 | -4.0% |
Listing Count | 109 | -8.0% |
| Listings as % of Homes | 0.9% | -8.0% |
Days on Market | 44 | -11.0% |
Demographics — Odessa, TX
As of the latest ACS Survey released in 2023, Odessa, TX has a population of 40,100, which has decreased by -8.5% over the past 5 years. Odessa, TX is a popular place for families, as children make up 29.3% of the population. The area has a poorly educated workforce, with 22.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,100 | -8.5% |
% Under 18 | 29.3% | 5.8% |
% Seniors | 10.5% | 8.2% |
% WFH | 5.0% | 35.1% |
% w/ College Degree | 22.2% | 3.3% |
As of the latest ACS Survey released in 2023, Odessa, TX is a predominantly hispanic area, with 52.2% of the population identifying as hispanic. The hispanic population has grown by 13.5% in the last 5 years. The second most common race or ethnicity in Odessa, TX is white, making up 37.7% of the population. Foreign-born residents account for 11.5% of the population in Odessa, TX, and this percentage has increased by 32.2% 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 | 37.7% | -16.2% |
% Black | 6.0% | 9.1% |
% Hispanic | 52.2% | 13.5% |
% Asian | 1.7% | 70.0% |
% Foreign Born | 11.5% | 32.2% |
Mortgage and Risk — Odessa, TX
According to HUD data as of 2023, there were 627 mortgage originations in Odessa, TX, of which 41.0% of loans were conventional mortgages. The average loan-to-value was 89.0%, with 70.0% 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 | 627 |
% Conventional Loans | 41.0% |
% Government Loans | 59.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% 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 5.7%. 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 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 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 433 |
Total Units Section 8 | 419 |
% Rentals under Section 8 | 5.7% |
% Occupied Section 8 | 78.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,190 | $1,370 |
| 2 Bedroom | $310 | $1,450 | $1,760 |
| 3 Bedroom | $20 | $2,100 | $2,120 |
| 4 Bedroom | -$260 | $2,750 | $2,490 |
Affordability — Odessa, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $253,000 |
| Median Household Income | $74,600 |