Oil and gas industry dominates this West Texas city
The inspiration for the book and hit TV series “Friday Night Lights,” Odessa is about much more than high school football. Together with nearby Midland, the city is the heart of the energy-producing Permian Basin. "It's one of the largest oil-producing regions in the world. The oil and gas industry drives much of its economy,” says Tim Lester, a Realtor with Keller Williams Realty. Many of Odessa’s 115,000 residents work in the Permian Basin energy sector, which supplies more than 40 percent of the country's oil and 20 percent of its natural gas. General construction, mining and natural resources industries make up about 30 percent of all jobs between Odessa and Midland. Renewable energy is also being added to the area's portfolio, with 8 percent of all new proposed photovoltaic solar capacity in the U.S. expected to come from the region through 2025. Other major employers in Odessa include Medical Center Hospital, Sewell Family of Dealerships and the University of Texas Permian Basin.
Beyond the economic opportunities, there's much to attract homebuyers to Odessa. "The city's affordable housing options, combined with its welcoming community, make it an appealing destination for those seeking a higher quality of life," says Yvonne Rosas, a Realtor with eXp Realty. "Odessa's growing amenities, including schools, parks, and entertainment venues, add to its allure."
Drivers can see oil rigs along the Beckwood Terrace roads.
Permian Varsity Vs Carver Alabama at the Ratliff Stadium is must see for Beckwood residents.
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Odessa housing market can be volatile
Odessa has a median home price of $280,000, less than nearby Midland, which has a median price of $365,000. Most of Odessa's single-family homes are brick ranch-style homes built between 1960 and 1980 in established neighborhoods like Crestview and Ridgecrest West. Here, homes typically range from around $150,000 to $250,000. Newer construction can be found in neighborhoods like Ponderosa Estates and Country Club Estates, where spacious homes on large lots can fetch about $1 million. "The housing market in Odessa has been quite volatile due to the boom-and-bust cycles of the oil and gas industry," Lester says. "In times of high oil prices, the market experiences significant demand, with new homes being built rapidly, rising home prices, and a housing shortage. When the oil prices drop, the market can cool down, leading to more affordable housing and some instability. In recent years, however, home prices have generally been on the rise, and new developments are emerging. The market can be competitive, particularly when the oil industry is thriving."
New-traditional homes can also be found in Country Club Estates.
Some Ridgecrest West homes show late 70's early 80's influences.
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Walking, biking and disc golf at the Comanche Trail Park
Odessa has over 50 parks, 10 miles of trails and five city pools. "While the region's natural landscape leans more toward desert terrain, the city's green spaces offer refreshing spots to unwind and connect with nature," Rosas says. The Comanche Trail Park is one of the city’s most popular outdoor spaces where residents can be seen walking or biking on its 3.2-mile trail, fishing in the lake or playing disc golf. Another favorite is Floyd Gwin Park, where kids can play on a playground or cool off in the summer at the park's pool.
The Ellen Noel Art Museum showcases art for the community along with exhibits and programs. The museum, which is free of charge, is undergoing renovations and expansion. The Cinergy Entertainment Center shows movies, has a bowling alley and a variety of other games to keep families entertained. The Ector Theatre and the Wagner Noel Performing Arts Center puts on local performances.
Enjoy the art at the Ellen Noel Art Museum located near Briarwood.
Family fun at Comanche Trail park near Briarwood.
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The real "Friday Night Lights" at Permian High
The Ector County Independent School District (ECISD) services the schools in Odessa. The ECISD earns a B-minus grade from Niche and serves about 33,000 students across 42 schools, including Permian High. "Odessa is most famous for its high school football team, the Permian Panthers," Lester says. "The team's success and the culture around high school football are central to the community, and the 'Friday Night Lights' story helped bring national attention to the town's love of the sport. While there aren't professional teams based in Odessa, high school sports—especially football, basketball, and baseball—are major sources of pride for residents." IDEA Public Schools is bringing a charter school to Odessa for the 2025-26 school year. The name of the campus will be called IDEA Lopez, and it will serve kindergarten through second grade and offer college prep before expanding and adding more grade levels.
Higher-learning institutions in the city include the University of Texas Permian Basin, which specializes in business, management and marketing, and Odessa College, a community college, which just introduced a new nursing program.
University Gardens sits just south of the University of Texas Permian Basin.
Permian Varsity Vs Carver Alabama at the Ratliff Stadium is a classic for Buchannan residents.
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Shopping and dining at Parks Legado Town Center
Music City Mall is the main shopping hub in Odessa and features national retailers and a food court. "It also offers family-friendly entertainment, such as a roller-skating rink and live music performances," Rosas says. Along 42nd Street are big-box stores and chain restaurants. The Parks Legado Town Center is convenient for those living on the east side of town, with local restaurants and other retailers.
Music City Mall is located within a brief drive from Briarwood.
Have your hat shaped by Raymond, the best in town, near Bellaire Heights.
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Getting around Odessa
Interstate 20 connects Odessa with Midland, about 20 miles east. The Midland Odessa Urban Transit District offers fixed-ride bus services in the city. The Midland International Air & Space Port is about 12 miles from downtown.
Community events like the 4th of July Fandango
The city's most popular event is the 4th of July Fandango, which takes place in Downtown Odessa and kicks off with a parade, culminating in live music and fireworks. The Permian Basin Fair & Exposition is a nine-day event in September that includes live music, a carnival and livestock shows.
385 Ranch Estates embraces tradition with heartfelt Día de los Muertos celebrations.
The Permian Basin Fair and Expo in a big event for Buchannan residents.
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Odessa crime and weather
According to the Odessa Police Department, violent and property crimes were lower year-over-year in 2023. While crime decreased in Odessa, the property and violent crime rates in 2023 were still consistently higher than both the state and national levels.
The city is prone to droughts, wildfires and extreme summer heat. Winters are relatively mild, though snow and ice are possible.
On average, homes in Odessa, TX sell after 46 days on the market compared to the national average of 48 days. The median sale price for homes in Odessa, TX over the last 12 months is $283,000, up 6% from the median home sale price over the previous 12 months.
Jennifer is the owner and broker of Halley Road Real Estate. She started her real estate career over 20 years ago in property management before becoming a REALTOR and opening her own brokerage. She enjoys helping buyers and sellers of during all phases of life. She has built a reputation for delivering excellent results for her clients with sincerity and integrity. Her team of experienced REALTORS known for their professionalism and excellent customer service.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
