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Cost of Living in Odessa

Is it better to rent or buy in Odessa? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$74,229
$1,245/mo

Median in area: $1,245

$198,847

Median in area: $198,847

$39,769

If you Rent

🔑
$1,335 /mo
Base Rent$1,245
Est. Utilities$90
% of Income21.6%
Pre-tax Residual$4,851

If you Buy

🏠
$1,474 /mo
P&I (6.5%)$1,005
Taxes & Ins$379
Est. Utilities$90
% of Income23.8%
Pre-tax Residual$4,711

Cost of Living FAQs

Is it cheaper to rent or buy in Odessa?›

Based on median housing data, renting is currently more affordable on a monthly basis in Odessa. The estimated all-in monthly cost for renting is $1,335, while owning a median-priced home with a 20% down payment is roughly $1,474 per month (a difference of $139).

How much do utilities cost in Odessa?›

The average monthly utility cost (electricity and natural gas) for a typical home in Odessa is approximately $90. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Odessa?›

To comfortably afford the median rent and utilities in Odessa without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $53,400 per year.