Cost of living in Odessa, TX: what to budget first

If you've got a job lined up in the Permian Basin, the next thing you need is a real number for what it costs to live here.

I own Goldsmith RV Park & Housing, about 25 minutes from Odessa, so the cost of living in Odessa, TX is something I look at all the time. Here's what the public data says, and how I'd use it if I were the one moving.

What does it cost to live in Odessa, TX?

Median rent in Odessa runs a little under the Texas median, home values run about 21 percent below it, and a single adult needs to earn about $21.85 an hour to cover the basics.

That hourly figure comes from MIT's Living Wage Calculator for the Odessa metro, updated in February 2026. For one adult with no kids, it puts the income you need at $45,449 a year before taxes.

Here's how MIT breaks down that one adult's yearly basics:

Housing: $15,017
Transportation: $9,050
Food: $3,762
Medical: $2,989

Housing is the biggest cost on that list. It works out to roughly $1,250 a month, and it's also the line you have the most control over.

Rent and home prices in Odessa

The Census Bureau puts median gross rent in Odessa at $1,315 a month, based on its 2020 to 2024 survey. Gross rent means the rent plus the utilities a renter pays, like electric and water.

For comparison, the Texas median is $1,403 and the U.S. median is $1,413.

Chart of the Odessa, TX cost of living: median gross rent $1,315 vs Texas $1,403 and U.S. $1,413 a month — Gross rent includes the utilities a renter pays. Source: U.S. Census Bureau QuickFacts, ACS 2020 to 2024.

Buying looks similar. The median home value in Odessa is $223,100, against $283,800 for Texas as a whole. Owners with a mortgage have median monthly costs of $1,924.

On the income side, the median household in Odessa brings in $73,472 a year. The Texas figure is $78,476.

Housing in Odessa costs less than the Texas median, but a few other costs out here can surprise you.

The costs people forget to budget for

Power in a West Texas summer

Summer power bills catch a lot of people off guard.

NOAA's climate normals for the airport between Midland and Odessa put the normal July high at 95.8 degrees. On average, about 115 days a year hit 90 or hotter, and about 24 days hit 100 or more.

The rate itself is on your side. The U.S. Energy Information Administration shows Texas homes paying 15.88 cents per kilowatt hour in July 2026, compared with 18.31 cents nationally.

What adds up is how much you'll use, because running AC through that many hot days costs money even at a lower rate.

Here's the rule I use: if a place quotes you rent, ask what it costs with power. If they can't tell you, build your budget around an August bill.

Taxes

Texas has no state personal income tax. For a lot of people moving from other states, that's a real bump in take-home pay.

Sales tax is where you'll feel it instead. The state rate is 6.25 percent, and local taxes can bring the combined rate up to 8.25 percent.

The drive

The average commute in Odessa is 22.4 minutes, per the Census Bureau.

If you live out in Goldsmith like our residents do, you're about 25 minutes from Odessa and about 45 from Midland. Some oilfield operators are only a few miles from Goldsmith, so check where your job actually is before you pick a side of town. Our workforce housing page lists drive times from the park to nearby cities.

Is Odessa, Texas a good place to live?

It depends on what you're here for. I'm biased, but here's how I'd think about it.

If you're here for work and want to keep more of your paycheck, the numbers above make a decent case. Housing is under the state median and there's no state income tax.

If you're coming from somewhere mild, the heat takes some getting used to, so plan for it in your budget and your schedule.

How I'd budget a move to the Permian

Start with the MIT number. MIT puts it at about $21.85 an hour for a single adult. If your offer clears that with room to spare, you're in good shape.
Price housing with utilities in. Compare every option as one monthly number with power included, since that's the only fair way to compare places out here.
Plan for move-in costs. Ask every place about deposits and minimum terms before you commit, so month one doesn't surprise you.
Sort out school early if you have kids. Ector County ISD says your address decides which campuses your kids attend, and the district's Locate Your Campus tool looks yours up by address. Our family housing page has more on living here with kids, plus a link to the district's bus request info.
Stay flexible until the job settles. I'd rather see someone go month to month for a bit than lock into a year before they know the schedule.

Where we fit

Here's how a stay at our park works.

A monthly RV site at our park covers electric, water, sewer, and trash, and covered sites come with the same bills paid. Our current prices are on the rates page, so you can plug the real number into your budget.

There's no minimum stay, and RV sites don't take a deposit. Laundry is coin-op and paid per load, separate from the rate.

On-site laundry building with a red LAUNDRY sign and steps at Goldsmith RV Park & Housing — The on-site laundry building.

A few things to know:

Wi-Fi doesn't reach the RV sites yet, so plan on your own connection for now.
Terms after the first month depend on your agreement, and we'll walk you through that when you sign up.
If you don't already own an RV, you'll need to factor that in. We also have housing units for people who aren't bringing a rig. Call us for rates on those.