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Odessa real estate market overview
- Average Monthly Rent: $1,160
- Home Price/Value Percentage Change: 0.00%
- Median Home Value: $194,568
- Best Time To Sell a Home: June
- Affordability Index: Moderate
- Days To Sell a House: 65
- Job Market: Weak
- Public School Ranking: 27
Location and weather
The city of Odessa is located west of Fort Worth and east El Paso. It is the largest town and county seat of Ector County. Word-class culture, rich resources, diverse business opportunities, recreational facilities, and transportation continue to attract potential new residents to this city year-round. Similar to the city of Midland, Odessa is a part of the oil-rich region of Permian Basin as well.
Weather here is warm and full of sunshine the majority of the year, reaching lows in the 30s during winter. There is some snow in this city, and around 15 inches of rain yearly.
Population, job market and cost of living
The population in Odessa is 118,775, with a growth rate of 1.24% annually.
The job market here has decreased by -14.21% over the last year. In ten years, job growth is predicted to be 32.59%. As a major distribution center, Odessa's location makes it a prime region for international goods. This city is the primary shipping point for the surrounding livestock area, as well as a center for the oil and gas industry. Trade with Mexico continues to support the sturdy economy here. Energy, medical, technology and manufacturing are also dominating industries here, driving the main portion of job opportunity.
Odessa is an affordable city when compared to other Texas cities and the US national average.
Odessa real estate market details
- Rochester Heights
- North Park
- Parks Lagado
- Cielo Vista
- Hollywood View
The average monthly rent in Odessa is $1,160 for an average apartment size of 821 sq. feet.
There hasn't been an increase or decrease in Odessa median home value compared to last year. As of 2023, the median home value is $194,568.
On average, homes in Odessa sell after 65 days on the market.
Home sales during June can provide the highest valued sale, while home sales also in June can provide the quickest sale.
The affordability index in Odessa is 84. This number indicates moderate affordability in this city.
The top ranked public schools are El Magnet at Reagan Elementary School, Compass Academy Charter School, Compass Academy Charter School, Utpb Stem Academy, Odessa Career and Technical Early College High School and New Tech Odessa. This information is determined by data regarding academic performance and equity.