Real Estate Investing in Odessa, Texas (79766)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 79766 (Odessa, TX)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Flat appreciation: Values have barely moved over 5 years (0.0% CAGR).
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Odessa, TX (79766)?
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Market Analysis: 79766 Odessa
From a cash-flow lens, ZIP 79766 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $274K median. It rewards specialists, not generalists.
Rent of $1,521/mo on a $274K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 79766 sits below the stated 0.0% once reality is priced in.
Within TX, ZIP 79766 trails on several market indicators that neighboring Ector County submarkets outperform. The gap is real and impressive enough to shape underwriting.
A notable renter share of 21% in 79766 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 79766 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Odessa:
Market Trends
Home Value History (with trend line)
📊 How Does 79766 Compare?
| Metric | 79766 | Odessa | Odessa, TX | Texas |
|---|---|---|---|---|
| Home Value | $274,442 | $169,882 | N/A | $297,000 |
| 5-Year CAGR | 0.0% | 2.2% | N/A | 5.4% |
| Avg Rent | $1,521 | $1,498 | N/A | - |
| Cap Rate | 4.3% | 4.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 79766 (Odessa, TX). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $274,442 |
| Monthly Rent | $1,521 |
| Price-to-Rent | 15.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.3% |
| 5-Year IRR | 4.3% |
📈 Home Appreciation
| 1-Year | -0.4% ▼ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +0.0% ▲ |
| 10-Year CAGR | +2.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 79766
Population: 10,712
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Investor Insight: With 4,112 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much do tenants pay in Odessa, TX?
Average rent in Odessa, TX is approximately $1,521/mo per month. Against $274K home values that yields a reasonable rent-to-price ratio.
What is the typical home price in Odessa, TX?
Odessa, TX home values average about $274K. That price point suits investors targeting rentals with $1,521/mo in monthly income.
What type of investing works in Odessa, TX?
For Odessa, TX, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is vacancy a concern in Odessa, TX?
Odessa, TX sees elevated vacancy, which is reasonable relative to the broader TX rental market.
Is Odessa, TX a good market for FHA house hackers?
The a challenging house-hack environment in Odessa, TX reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
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