| Index | Odessa | Texas | National |
| Cost of living | 98 | 94 | 100 |
| Groceries | 99 | 98 | 100 |
| Health care | 98 | 98 | 100 |
| Housing | 95 | 83 | 100 |
| Transportation | 99 | 98 | 100 |
| Utilities | 107 | 103 | 100 |
| Lifestyle & Entertainment | 102 | 98 | 100 |
| Household Items | 96 | 98 | 100 |
| Education & Childcare | 98 | 98 | 100 |
Understanding the cost of living in Odessa can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Odessa cost of living index is 98, which is 2% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
In Odessa, daily expenses such as food, housing, lifestyle expenses, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Odessa will resemble that of an average city, contributing to a manageable cost of living.
Nobody knows their city better than the people who actually live there. So, we asked 13 local residents how they would rate the cost of living in Odessa and this is how they responded. 15% of people said that the cost of living was affordable, with prices decreasing, while 85% of people said that the cost of living was very expensive and prices continue to rise.
Is Odessa an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Odessa is 13.5% lower than the national average, while the average monthly rent prices are 14.4% higher than average. The affordability of any location can also be influenced by median income levels. Odessa has a median household income of $94,619, which is 16.3% higher than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Odessa, the housing index stands at 5.1% lower than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Odessa starts at 6.25% and the income tax rates start at 0%.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
The Odessa cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $118,208 | $9,851 | $2,758 | $3,547 |
| Renters | $67,743 | $5,645 | $1,581 | $2,032 |
| State | General Sales Tax | With Max Surtax |
| Texas | 6.25% | 8.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Texas | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| West Odessa, TX | 26,972 | 90 | 10.1% |
| Goldsmith, TX | 127 | 92 | 7.8% |
| Gardendale, TX | 1,443 | 110 | 10.5% |
| Odessa, TX | 125,590 | 98 | 1.7% |
| City | Population | Cost of Living Index | National Avg. |
| Ann Arbor, MI | 125,691 | 120 | 20.2% |
| Columbia, MO | 125,431 | 100 | 0.1% |
| Hartford, CT | 125,397 | 106 | 5.6% |
| Saanich, BC | 125,800 | n/a | |
| Victorville, CA | 126,104 | 122 | 22.5% |
| Odessa, TX | 125,590 | 98 | 1.7% |
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