Updated 2026 · Based on median market data for Odessa, TX
The median monthly rent in Odessa, TX is $1,610, translating to $19,320 in annual gross rental income per unit. The rent-to-price ratio is 0.64% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Odessa spend approximately 30% of the local median household income ($63,735) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Odessa is 5.8%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 1.8% annually is actively adding rental demand.
Odessa's GRM (price divided by annual rent) is 12.9x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,610/mo, a single-family rental in Odessa generates approximately $19,320 in gross annual income. After accounting for 5.8% vacancy ($1,121 lost), property taxes of $4,300, insurance (~$1,000), and maintenance (~$1,000), the estimated NOI is $11,899 per year, or $992/mo.
Odessa vs Texas state average and national average across key investment metrics. Odessa outperforms both benchmarks on cap rate.