Quick facts: Odessa, MN

Quick Facts

102.8
Cost of Living
above US average
104
Population
48.08
Crime Rate per 1000
above US average
$46,875
Median Income
below US average
$135,000
Median House Price
above US average
$1560
Average Rent
above US average
Poverty rate Data is updating, will be available soon
2.3%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $46,875.

🏠

Income Needed to Buy

βœ“ Affordable
$42k/year
Based on $135,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($46,875) exceeds requirement
🏒

Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1560/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $46,875
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Odessa, MN

Odessa is a small rural city located in the heart of Minnesota, within Swift County. Known for its tight-knit community, Odessa has a population of around 200 residents, making it a charming and quiet place to live. The city is part of the larger scenic landscape of West Central Minnesota, characterized by prairies, farmland, and a few nearby lakes that offer recreational opportunities. Odessa provides a peaceful, small-town atmosphere with a few local businesses serving the community. Residents enjoy the surrounding natural beauty, which is ideal for outdoor activities like fishing, hiking, and camping. The nearby city of Benson, just a short drive away, offers more amenities such as shopping and dining options. Educational and community events are often organized, fostering a strong sense of belonging among residents. Odessa also holds a historical significance, with a rich background reflecting the agricultural heritage of the region. Overall, Odessa is a picturesque example of rural life in Minnesota, appealing to those seeking tranquility and community connection.

πŸ” Search & Compare Places

First Location πŸ“