Affordable Storage in Odessa

Moving and storage go hand in hand. Whether traveling across town or the country, moving is an exciting and fresh start. While Storage Rentals of America is here to help you with all your storage needs, we also want to help you get familiar with the area. That's why we put together this resource guide for Odessa.

About Odessa, TX

The county seat of Ector County is the city of Odessa, which is in the heart of the Texan oil fields. The population within the city limits is 114,428 (U.S. 2020 Census). The Odessa Metro Area includes the surrounding suburban towns, and that increases the population to 278,801 (U.S. 2020 Census). Add in the city of Midland, which is adjacent, and the population increases to 340,391 (U.S. 2020 Census).

Odessa was established in 1881 as a “cow town.” Cattle shipped on the Texas and Pacific Railroad had a layover to get water. The city got its name from a town in Ukraine with a similar topography and grasslands.

In the late 1920s, black “gold” in the form of oil was discovered here. The population went from 750 to over 5,000 after oil was found. Like any oil-rich area, the town went through booms and busts caused by the constantly changing prices of a barrel of crude oil. The first boom was during the late 1920s to the 1950s. Then, the prices declined and created a bust in the 1960s.

Things picked up again in the 1970s when OPEC caused a worldwide oil shortage, driving prices much higher. Then, once again, in the 1980s, the prices declined, and the economy went down. In contemporary times, the oil is flowing at a normal rate.

What to do in Odessa, TX

Odessa has some big-city amenities and a downhome country style.

• Features: McKinney Park is a water park with a splash pool that children enjoy.
• Events: The city sponsors many events, including Take Me Fishing, Easter Spring Fling, Mother Son Dance, Shamrock Run, Father Daughter Dance, Movies in the Park, Pool Parties, American Tribute, Fall Festival, Starbright Village, Parade of Lights, and the Jingle Bell Run.
• Museums: The Permian Basin Petroleum Museum, the Ellen Noel Art Museum, and the Midland Army Airfield Museum are interesting museums.
• Destinations: Sherwood Park is an aquatic center with a skating area. Floyd Gwin Park has sports fields with nice grass and a playground for the kids to enjoy.

Working in Odessa, TX

The local economy depends on petroleum, retail stores, healthcare centers, and education. The unemployment rate is 9.9%, which is above the national average. The median household income is $66,769 per year. That amount is close to the American average of $69,021. The economy has a steady growth rate when compared to the national average. Odessa's predicted job growth rate for the next ten years is 32.6%, compared to the predicted national average of 33.5%.

The industries offering the best-paying jobs are petroleum mining (6.9%), hospitality (6.8%), health care (9.5%), repair/maintenance (3.6%), education (10%), and waste management (3.6%).

Odessa, TX Neighborhoods

The best neighborhoods are in the southeastern part of town. They have median sales prices of over $400,000.

Here are a few areas with more economical homes for sale:

• Parks Lagado South: This nice neighborhood has a median real estate price of $281,537, which is reasonable yet still more expensive than 57.4% of the rest of the state. Most homes in this area were built after 2000. Some were constructed between 1970 to 1999. Rental homes are $1,403 monthly. The vacancy rate is modest at 4.5%, making finding a place to rent in this area challenging but possible.
• Park Lagado: This nice neighborhood has a median real estate price of $278,153. Apartments and homes are available for an average rent of $1,527 monthly. The vacancy rate is 9.2%, so renting a place in this area is easy.
• Springdale / The University of Texas Permian Basin: This area has many college students. The median real estate price in this neighborhood is $277,797. Rental homes are available for an average rent of $1,702 per month. There are apartment complexes and mobile homes in this area. The vacancy rate is 11.1%.
• North Park: The median real estate price is $257,620. This neighborhood has a mixture of homes and apartment complexes. Most of the houses are owner-occupied. They were built between 1970 and 1999 with a few newer houses. The vacancy rate is 1.6%. The average rent is $1,537 per month.

Odessa, TX School District

The public school district is the Ector County Independent School District. The district spends $9,743 per year for each student. This amount is low compared to nearby school districts. The student-to-teacher ratio of 17 to one creates a reasonable number of students per class.

There are six private schools in Odessa. The three best private schools are Crossroads School (PK to 4th), St. Marys Central Catholic School (PK to 8th), and St. Johns Episcopal School (PK to 8th).

There are three institutions of higher learning within a 50-mile area. Odessa's best public universities are Odessa College (offering a two-year program) and the University of Texas of the Permian Basin (offering a four-year program).

Moving to Odessa, TX Resource Guide

The City of Odessa has a City Council and an elected mayor who works with the six elected council members serving their districts.

The Odessa Department of Parks & Recreation manages the city-sponsored events, athletic programs, and parks. The city operates the Ratliff Ranch Golf Course.

Odessa, TX Housing

If you want to buy a home in Odessa, the median home sales price is $295,000. This price is increasing by 13.5% year-over-year. It’s a buyer’s market in this area, with more homes listed for sale than interested buyers.

The cost of living in Odessa is low. It is 2% lower than other cities in the state and 10% less than the national average.