Quick facts: Odessa, TX

Quick Facts

99.5
Cost of Living
below US average
112,906
Population
25.25
Crime Rate per 1000
above US average
$71,293
Median Income
below US average
$225,000
Median House Price
above US average
$1817.0
Average Rent
above US average
15%
Poverty Rate
above US average
3.8%
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 $71,293.

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Income Needed to Buy

βœ“ Affordable
$71k/year
Based on $225,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($71,293) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$78k/year
Based on $1817.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $78k vs median $71,293
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Odessa, TX

Odessa is a city located in the western part of Texas, primarily within Ector County, with a small portion extending into Midland County. It is situated in the Permian Basin, a major oil-producing region that has significantly influenced its economy and growth. Odessa is known for its vibrant culture, diverse community, and a strong focus on education, featuring institutions like the University of Texas of the Permian Basin. The city offers various attractions, including the Ellen Noel Art Museum, which showcases a collection of 20th-century American art, and the Odessa Meteor Crater, a fascinating geological site. Odessa also hosts multiple annual events, such as the Permian Basin International Oil Show, celebrating the oil industry and its impact on the area. Outdoor enthusiasts can enjoy parks and recreational facilities, including the scenic Odessa Parks and Recreation system. Additionally, the city has a rich sports culture, particularly evident in its high school football teams and the professional baseball team, the Odessa Jackalopes. Overall, Odessa embodies the spirit of Texan resilience and community, thriving amid the fluctuating dynamics of the energy sector.

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