The typical owner-occupied home in Odessa is worth about $497,100, 38% above the Florida median of $359,000 and 49% above the national median of $332,700. Owners pay a median $3,756 a year in property taxes, about 0.76% of their home's value, close to the Florida rate of 0.76%. The median household earns $117,806 a year, so the median home costs 4.2 times the median income (4.8 times for Florida). 70% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Odessa at a glance
| Odessa | Florida | U.S. | |
|---|---|---|---|
| Median home value | $497,100 | $359,000 | $332,700 |
| Median property tax paid per year | $3,756 | $2,730 | $3,119 |
| Property tax as a share of value | 0.76% | 0.76% | 0.94% |
| Median household income | $117,806 | $74,568 | $80,734 |
| Homes lived in by their owners | 70% | 68% | 65% |
| Owner homes with a mortgage | 74% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,286 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 21.3% | 23.6% | 21.0% |
| Median rent | $1,909 | $1,669 | $1,413 |
| Rent as a share of renters' income | 22.4% | 35.2% | 30.6% |
| Median year homes were built | 2006 | 1988 | 1980 |
| Vacant homes | 7.7% | 14.7% | 10.1% |
| Population | 8,381 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Odessa
At this week's average 30-year rate of 7.11%, buying the median Odessa home of $497,100 with 20% down costs about $3,197 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,025, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $137,022 for the 20%-down payment. That payment is 33% of the median Odessa household income of $117,806; at that income and 20% down, the 28% guideline points to a home of about $427,000.
The median rent here is $1,909 a month, so owning the median home costs about $1,288 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $99,420 |
|---|---|
| Loan amount | $397,680 |
| Principal and interest | $2,675 |
| Property taxes (0.76% a year) | $315 |
| Homeowners insurance (our estimate, 0.5% a year) | $207 |
| PMI | $0 |
| Total per month | $3,197 |
Change the numbers in the calculator
| Down payment | $17,398 |
|---|---|
| Loan amount | $488,096 |
| Principal and interest | $3,283 |
| Property taxes (0.76% a year) | $315 |
| Homeowners insurance (our estimate, 0.5% a year) | $207 |
| FHA mortgage insurance | $220 |
| Total per month | $4,025 |
Change the numbers in the calculator
Questions about home buying in Odessa
What is the median home value in Odessa?
About $497,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Odessa?
Homeowners pay a median $3,756 a year, which is about 0.76% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Odessa?
For the median home with 20% down at 7.11%, the payment is about $3,197 a month. Keeping that under 28% of gross income takes about $137,022 a year.
More about Odessa
- Mortgage Refinance in Odessa
- Debt Relief in Odessa
- Home Equity Loans in Odessa
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data