Odessa, Texas Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Odessa, Texas rental market.
Odessa, Texas
Average Apartment Rent
$1,321
Y-o-Y Change in Average
Apartment Rent
4.6%
As of November 2024
Compared to a year ago, Odessa, Texas apartments have recorded a 4.6% rent increase.
Odessa, Texas Average apartment rent trend
Odessa, Texas Average Apartment Rent
Odessa, Texas Apartment rent ranges
At 53.24%, apartments priced $1,000 - $1,500 represent the bulk of Odessa, Texas rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.99%.
Odessa, Texas Housing tenure**
Renters take up 41% of Odessa, Texas real estate, occupying a total of 17,894 units, while homeowners live in 25,908 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$49,864
Average household size of renter-occupied housing units**
2.25
Rental vacancy rate**
6.6%
Odessa, Texas Renter-occupied housing units by no. of bedrooms**
There are 5,780 rentals in Odessa, Texas with 2 beds making up the highest share of the market, at 32%. Units with 4 beds, on the other hand, hold the lowest percentage (5%), amounting to 828 units. Overall, the median number of rooms in Odessa, Texas homes for rent is 4.
Odessa, Texas Renter-occupied units by age of householder**
Most condos for rent in Odessa, Texas are occupied by residents in the 25 - 34 years age group (31%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Odessa, Texas Renter-occupied housing units by family type**
Odessa, Texas Renter-occupied housing units by the presence of own children**
A total of 9,613 apartments for rent in Odessa, Texas, or 54% of all rentals are family households. Additionally, 40% of rental homes include children under the age of 18 – that’s 7,098 units. All in all, the median size of a renter-occupied household in Odessa, Texas is 2.25.
Odessa, Texas Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 15% of the rental market. In contrast, residents with less than a high school degree reside in 21% of the homes for rent in Odessa, Texas.
Odessa, Texas Renter-occupied units by year structure built**
The highest share of Odessa, Texas apartment rentals, namely 20% or 3,547 units, were Built 1970 - 1979, followed by those Built 2010 - 2019 (17%, 3,001 units), and the ones Built 1980 - 1989 (16%, 2,907 units).
Odessa, Texas Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Odessa, Texas renters (40%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Odessa, Texas condos for rent is 2018.
Odessa, Texas Renter-occupied housing units by vehicles available**
When it comes to transportation options, 49% of Odessa, Texas renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 12% have No vehicle available.
Odessa, Texas Means of transportation to work of householders living in renter-occupied housing units**
Odessa, Texas Geographical mobility in the past year for householders living in renter-occupied housing units**
Odessa, Texas Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Odessa, Texas apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
