Department of Numbers

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Odessa, Texas Home Affordability

The data below measures home affordability for the Odessa, Texas metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Odessa home affordability to other cities.

Odessa, Texas Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Odessa HPI series. Median household income data for Odessa is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Odessa, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 145.8
September 2013 145.6
June 2013 140.3
March 2013 141.6
December 2012 133.4
September 2012 133.7
June 2012 128.5
March 2012 126.5

Odessa, Texas Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Odessa median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Odessa, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 120.0
September 2013 119.8
June 2013 115.4
March 2013 116.5
December 2012 109.7
September 2012 110.0
June 2012 105.7
March 2012 104.1

Odessa, Texas Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Odessa, Texas and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Odessa, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $262,421
January 2014 $258,420
December 2013 $257,509
November 2013 $263,671
October 2013 $265,880
September 2013 $256,603
August 2013 $257,509
July 2013 $260,255
June 2013 $269,731
May 2013 $287,770
April 2013 $291,008
March 2013 $286,702
February 2013 $288,127

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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