Odessa, TX
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.68×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Texas
- 2.95×-0.27
- vs U.S.
- 3.43×-0.75
Benchmark
ACS median home value ÷ median HHI
moderate
Rent to income
26.9%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Texas
- 23.2%
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
solid
Cap rate proxy
6.53%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Texas
- 5.06%+1.47
- vs U.S.
- 4.35%+2.18
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.37%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Texas
- -0.00%
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
strong
Permit pipeline
5.48
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Texas
- 5.01+0.47
- vs U.S.
- 3.52+1.96
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.5%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Texas
- 3.7%-0.2
- vs U.S.
- 3.9%-0.4
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+24.1%
homeValues.yearOverYear
+3.2%
Median home value
$190,500
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,269 | $15,228 | 21.4% |
| 2 BR | $1,595 | $19,140 | 26.9% |
| 3 BR | $1,912 | $22,944 | 32.3% |
Labor market direction
Unemployment
3.5%
Median household income
$71,031
What's being built
Total TTM
890
+8.0% YoY
Single-family
890
2–4 unit
0
5+ unit
0
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Ector County | 162,300 | $190,500 | $71,031 | 890 | +8.0% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Odessa | 162,300 | $71,031 | 2.68× | 6.53% | +24.1% | 5.48 | 3.5% |
| Sebastian-Vero Beach, FL | 160,986 | $71,049 | — | — | +58.0% | — | 5.5% |
| State College, PA | 158,665 | $72,748 | — | — | +37.3% | — | 2.7% |
| Grand Junction, CO | 156,131 | $71,485 | — | — | +57.3% | — | 3.7% |
| Janesville-Beloit, WI | 163,817 | $74,390 | — | — | +59.8% | — | 3.2% |
| Waterloo-Cedar Falls, IA | 168,404 | $68,916 | — | — | +38.3% | — | 3.6% |
Where people are moving in from
Net migration
-595
-0.37% of population
| Origin county | Tax returns |
|---|---|
| Midland County, TX | 782 |
| El Paso County, TX | 203 |
| Lubbock County, TX | 100 |
| Tarrant County, TX | 95 |
| Harris County, TX | 94 |
| Bexar County, TX | 91 |
Who lives in Odessa
- Median age
- 31
- Bachelor's+
- 16.6%
- Owner-occupancy
- 64.4%
- Vacancy rate
- 7.6%
- Rent burdened (30%+)
- 46.1%
- Median household income
- $71,031
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.