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
Compare the cost of living in Odessa, TX with 299 other major U.S. cities