Odessa Real Estate Market Overview
Average Monthly Rent:
$964
Percentage Change in Home Price/Value:
15.8%
Median Home Value:
$563,500
Best Time To Sell Home:
N/A
Affordability Index:
193
Days To Sell House:
45
Job Market:
Fair
Public School Ranking:
28
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 133,225, with a growth rate of 2.54% annually. The job market here has increased by 4.5% over the last year. In ten years, job growth is predicted to be 32.6%. 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 U.S. national average.