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Odessa real estate market overview
- Average Monthly Rent: $964
- Home Price/Value Percentage Change: 15.8%
- Median Home Value: $563,500
- Best Time To Sell a Home: n/a
- Affordability Index: 193
- Days To Sell a 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 US national average.
Odessa real estate market details
- Rocky Lane Road/Deering Road
- John Ben Shepperd Parkway
- Andrew's Highway
- Gardendale
The average monthly rent in Odessa is $964 for an average apartment size of 836 sq. feet.
There has been a 15.8% increase in Odessa's median home value over the last year. As of 2022, the median home value is $563,500.
On average, homes in Odessa sell after 45 days on the market.
The affordability index in Odessa is 193. This number indicates very high 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.