Cost of Living,
Odessa's Real Estate Market
Odessa Metro Area
Profile: College town Location: Western Texas near the corner of New Mexico Elevation: 2900 Time zone: Central Standard Time
|Stable economy||Hot, dry summers|
|Cost of Living||Flat terrain|
|Education Resources||Dusty and Blowing Wind|
Click here to Hide Profile
Odessa received its name from homesick Russian railroad laborers in the 1880s, and until recently was combined with Midland to form one metropolitan area. Like Midland, the economic base is concentrated mainly in the oil and gas industry and employment prospects are mainly dependent on that industry. Recently though, the high cost of oil is spurring new exploration and development so the local economy is very vibrant.
Odessa has two higher education facilities: a small University of Texas campus brings 3500 students and there is a health science center run by Texas Tech. The region is famous for its fervor for high school football, chronicled in the book and movie “Friday Night Lights.” The geography surrounding Odessa is dry, dusty, and flat, which some may find uninteresting.
The Midland-Odessa region is on a relatively high southern extension of the Great Plains. The terrain is level with slight undulations. Vegetation consists mostly of native grasses and a few mesquite trees. The climate is semiarid. Summer daytime temperatures are hot but with a large diurnal range and most nights are comfortable. Humidity is low. Winters are characterized by frequent cold periods followed by rapid warming. Cloudiness is minimal. Summer showers are common and most of the annual precipitation comes from violent spring and early summer thunderstorms. Due to the flat nature of the countryside, local flooding and blowing dust may occur.
Interesting Facts about Odessa, Texas
As of 2014, Odessa's population is 101,545 people. Since 2000, it has had a population growth of 10.23 percent.--------------------
The median home cost in Odessa is $171,300. Home appreciation the last year has been 10.00 percent.--------------------
Compared to the rest of the country, Odessa's cost of living is 6.00% Lower than the U.S. average.--------------------
Odessa public schools spend $8,346 per student. The average school expenditure in the U.S. is $12,435. There are about 16.3 students per teacher in Odessa.--------------------
The unemployment rate in Odessa is 2.80 percent(U.S. avg. is 6.30%). Recent job growth is Positive. Odessa jobs have Increased by 3.09 percent.
Ranked #74 America's Best and Worst Cities for Crime (Mid-Size Metro Areas)
Ranked #283 2005 Best Places to Live
Ranked #358 Best Green Cities
See More Rankings Click Here
Average Commute time is 18 minutes. The National Average is 25 minutes.--------------------
Odessa's Real Estate Market (click to see properties)
• Newly Listed Homes
• Most Expensive Listing
• Million Dollar Houses
• Homes from $750,001 to $1,000,000
• Homes from $500,001 to $750,000
• Homes from $250,000 to $500,000
• Homes under $250,000
• Median Priced Homes