Rent-to-Own Homes in Odessa, TX: What You Need to Know
Odessa, Texas is a booming city. The job opportunities are plentiful and prosperous. The cost of living is low and the schools are top tier. The weather is gorgeous and the neighborhoods are quiet and friendly.
The job market in Odessa, Texas is booming. The top industries here include healthcare, educational services, oil, construction, mining, manufacturing, repair and maintenance, and accommodation. These industries make up 31% of the market. The average household income here is $56,119 per year, which is roughly $3,000 more than the national average.
Cost of Living
The overall cost of living in Odessa, Texas is 5% less expensive when compared to the national average. Utilities are 6% cheaper, and groceries are 9% cheaper. Housing is 6% less expensive as well. The median home price here is $173,400, a price that has appreciated just over 50% in the past decade. The average rent here is $960 per month for an 834 square-foot apartment. Just over 30% of all households are renter-occupied.
Schools and Higher Education
For those with, or interested in having children, Odessa has many excellent schools. There are 44 public schools serving about 32,000 students. There are 6 private schools here, as well, serving 817 students. Odessa College and The University of Texas Permian Basin are both located in Odessa as higher education institutes.
Weather and Climate
Odessa residents enjoy a semiarid climate, meaning they have long, hot summers, with short, dry, and windy winters. January and December are the coldest months, with an average high of only 57°F. July is the warmest month, with temperatures peaking around 95°F. Odessa usually sees about 14” of rain and hardly any snow.
Know Your Neighborhoods
Home to nearly 8,000 residents, Monahans is one of the best places to live in all of Texas. Residents enjoy a suburban, rural blend. Many families have settled here. The median home value is $88,000 and the majority of residents own their homes. The median rent is $947.
Kermit is home to almost 7,000 residents. Residents enjoy a quiet, rural environment. The median home value is $62,000 and nearly all residents own their home. The median rent is $874.
Andrews is home to just under 14,000 residents, many of whom are families. Residents enjoy a quiet, suburban environment. The median home value is $141,000 and the majority of residents own their homes. The median rent is $1,035.