The typical owner-occupied home in Odessa is worth about $158,600, 63% below the New York median of $423,800 and 52% below the national median of $332,700. Owners pay a median $3,182 a year in property taxes, about 2.01% of their home's value, higher than the New York rate of 1.55%. The median household earns $80,385 a year, so the median home costs 2.0 times the median income (4.9 times for New York). 60% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Odessa at a glance
| Odessa | New York | U.S. | |
|---|---|---|---|
| Median home value | $158,600 | $423,800 | $332,700 |
| Median property tax paid per year | $3,182 | $6,582 | $3,119 |
| Property tax as a share of value | 2.01% | 1.55% | 0.94% |
| Median household income | $80,385 | $85,974 | $80,734 |
| Homes lived in by their owners | 60% | 54% | 65% |
| Owner homes with a mortgage | 69% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,500 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 22.5% | 21.0% |
| Median rent | $817 | $1,621 | $1,413 |
| Rent as a share of renters' income | 35.4% | 31.2% | 30.6% |
| Median year homes were built | 1953 | 1959 | 1980 |
| Vacant homes | 10.5% | 10.0% | 10.1% |
| Population | 508 | 19,852,366 | 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 $158,600 with 20% down costs about $1,185 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,449, 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 $50,797 for the 20%-down payment. That payment is 18% of the median Odessa household income of $80,385; at that income and 20% down, the 28% guideline points to a home of about $251,000.
The median rent here is $817 a month, so owning the median home costs about $368 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $31,720 |
|---|---|
| Loan amount | $126,880 |
| Principal and interest | $854 |
| Property taxes (2.01% a year) | $266 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| PMI | $0 |
| Total per month | $1,185 |
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| Down payment | $5,551 |
|---|---|
| Loan amount | $155,727 |
| Principal and interest | $1,048 |
| Property taxes (2.01% a year) | $266 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| FHA mortgage insurance | $70 |
| Total per month | $1,449 |
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Questions about home buying in Odessa
What is the median home value in Odessa?
About $158,600 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 $3,182 a year, which is about 2.01% 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 $1,185 a month. Keeping that under 28% of gross income takes about $50,797 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