Odessa, TX Rental Market Trends

Odessa Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for Odessa, TX. Currently, the overall median rent in the city stands at $1,615, roughly the same as last month. Prices and are now up 11.2% year-over-year. Read on to learn more about what’s been happening in the Odessa rental market and how it compares to trends throughout the nation as a whole.

Odessa rents are flat month-over-month and up 11.2% year-over-year

The median rent in Odessa rose by 0.1% over the course of March, and has now increased by a total of 11.2% over the past 12 months. Odessa’s rent growth over the past year has has outpaced both state (-2.5%) and national (-0.8%) averages.

Odessa rent growth in 2024 pacing below last year

Three months into the year, rents in Odessa have fallen 0.0%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 1.7%.

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.

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