Average Rent in Odessa, TX↑ Rents rising 12.7% YoY🔺 7th priciest in TX

Odessa, TX has rental prices ranging from $1,286/month to $2,359/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,295/month — 7% below the national average of $1,400/month. With a median household income of $71,031/year, spending $1,295/month on a 1-bedroom represents 22% of gross income — within the recommended 30% threshold.

How Odessa Compares

With an average 2-bedroom rent of $1,669/month, Odessa ranks #7 most expensive of the 220 cities tracked in Texas — pricier than 95% of all US cities in our data.

The Odessa Rental Market

The Odessa, TX area has a population of about 163,206 and 36% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Odessa, TX have risen by $188/month (12.7%) over the past year, from $1,481 to $1,669. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Odessa, TX without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $51,800. The local median household income of $71,031 exceeds that threshold by $19,231, making Odessa relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Odessa, TX is $254,691, giving a price-to-rent ratio of 12.7. The break-even point between renting and buying is roughly 13 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Odessa's neighborhoods. Among the highest-value areas are Rochester Heights ($198,150 median home value), Sherwood ($225,656 median home value), Lyndale ($225,678 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Odessa, TX Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Odessa?

Break-even analysis and mortgage estimates based on local market data.

Living in Odessa

Cost of living, job market, crime rates, and moving cost estimates.