Odessa, TX—79763
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 $196,000, with a year-over-year change of 3.3%. This indicates that home prices in Odessa, TX are increasing. According to Zillow, the 1-year price projection is -2.9%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $196,000 | 3.3% |
| Single Family | $196,000 | 2.6% |
| 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 | $224,000 | 4.2% |
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 $1,560, with a year-over-year rent change of -12.8%. Per bedroom, the median rent as of July '25 in Odessa, TX is studios: $400, 1-bedrooms: $1,000, 2-bedrooms: $1,420, 3-bedrooms: $1,900. The most common rental property sizes in Odessa, TX are 3-bedroom and 2-bedroom, accounting for 39.7% and 26.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,560 |
| Studio Rent | $400 | $400 |
| 1 Bed Rent | $1,000 | $1,000 |
| 2 Bed Rent | $1,250 | $1,420 |
| 3 Bed Rent | $1,900 | $1,900 |
| 4 Bed Rent | N/A | N/A |
% 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 70. This is a increase of 27.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $241,000 | -11.0% |
Listing Count | 59 | 25.0% |
| Listings as % of Homes | 0.5% | 25.0% |
Days on Market | 70 | 27.0% |
Demographics — Odessa, TX
As of the latest ACS Survey released in 2023, Odessa, TX has a population of 34,900, which has decreased by -10.5% over the past 5 years. Odessa, TX is a popular place for families, as children make up 29.2% of the population. The area has a poorly educated workforce, with 8.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,900 | -10.5% |
% Under 18 | 29.2% | -9.6% |
% Seniors | 13.0% | 39.8% |
% WFH | 3.0% | 50.0% |
% w/ College Degree | 8.7% | -2.2% |
As of the latest ACS Survey released in 2023, Odessa, TX is a predominantly hispanic area, with 76.3% of the population identifying as hispanic. The hispanic population has grown by 4.5% in the last 5 years. The second most common race or ethnicity in Odessa, TX is white, making up 18.7% of the population. Foreign-born residents account for 22.4% of the population in Odessa, TX, and this percentage has increased by 45.5% 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 | 18.7% | -18.0% |
% Black | 2.8% | -12.5% |
% Hispanic | 76.3% | 4.5% |
% Asian | 0.5% | 25.0% |
% Foreign Born | 22.4% | 45.5% |
Mortgage and Risk — Odessa, TX
According to HUD data as of 2023, there were 327 mortgage originations in Odessa, TX, of which 60.0% of loans were conventional mortgages. The average loan-to-value was 91.0%, with 76.0% 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. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 327 |
% Conventional Loans | 60.0% |
% Government Loans | 40.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 2.0% |
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 | 692 |
Total Units Section 8 | 593 |
% Rentals under Section 8 | 16.1% |
% Occupied Section 8 | 83.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $210 | $1,000 | $1,210 |
| 2 Bedroom | $310 | $1,250 | $1,560 |
| 3 Bedroom | -$20 | $1,900 | $1,880 |
| 4 Bedroom | N/A | N/A | $2,200 |
Affordability — Odessa, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $196,000 |
| Median Household Income | $57,600 |