Texas · Population 114,080 · Updated March 2026
How far your income goes in Odessa
State-level tax rates that affect your costs
Odessa is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 83 (where 100 equals the national median), Odessa residents can expect to pay median rent of $1,322/month while earning a median household income of $73,030/year.
The median home value in Odessa, TX is $208,000, with typical monthly owner costs around $1,251 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
Texas has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.25% sales tax rate and 1.6% effective property tax rate, the overall tax environment helps keep costs manageable in Odessa.
Common questions about living costs in Odessa