The story of this market
The typical home in ZIP 79762 sells for about $208,400, or $163 per square foot.
Prices are down 24.9% from a year ago, which gives buyers more room to negotiate. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $2,300 a month.
ZIP 79762 — Odessa
The 79762 housing market is experiencing a significant correction, characterized by a sharp year-over-year decline in median sale prices and a dramatic reduction in sales volume. High inventory relative to the current sales pace suggests a cooling market, likely driven by broader economic shifts in the energy-dependent Permian Basin. Buyers currently hold more leverage as the market transitions from previous periods of high activity.
This ZIP is well-suited for energy-sector workers, families seeking mid-range housing, and investors looking for rental opportunities in a market tied to the Permian Basin economy.
Median prices moved down 24.9% year over year.
Homes spend a median of 65 days on market with 34.0 months of supply — a slower-moving market.
17% of listings have cut prices · homes sell at 98.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 13.9% — a stable, low-distress profile.
ZCTA 79762, Ector County TX
The area is served by the Ector County Independent School District, which manages a large portfolio of elementary, middle, and high schools.
The region faces standard West Texas climate risks, including potential for high winds and localized flash flooding, with insurance markets sensitive to regional weather patterns.
The local economy is heavily anchored by the energy and oilfield services sectors, which drive infrastructure and development momentum in the Permian Basin.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Texas) — Senior (65+) and Disabled Homestead Exemption and School Tax Ceiling: Grants an additional mandatory $10,000 exemption from ISD appraised value (Taxable Value_ISD = Appraised Value - $100,000 - $10,000) and establishes an absolute statutory tax freeze (school tax ceiling): total ISD property taxes cannot exceed the dollar ceiling established in the… State (Texas) — General Residence Homestead Exemption and 10% Valuation Growth Cap: Imposes mandatory state-level valuation deductions and growth limitations on the qualifying homestead: (1) Mandates a $100,000 deduction from appraised value for independent school district (ISD) maintenance and operations/debt taxation: Taxable Value_ISD = Appraised Value - $100… State (Texas) — Ad Valorem Real Property Taxation and Assessment Ratio: Mandates ad valorem appraisal of all real property at 100% of fair market value as of January 1 each tax year (Assessment Ratio = 1.00).
Residents primarily rely on personal vehicles for commuting, with major thoroughfares providing access to employment hubs within Odessa and the broader Permian Basin.
The area features local parks and community centers, with proximity to regional shopping and dining districts located along major Odessa commercial corridors.
The rental market shows strong demand driven by the energy sector workforce, with vacancy rates influenced by cyclical industry employment levels.
The economy is dominated by the oil and gas industry, with significant employment in extraction, support services, and related logistics.
Transportation is primarily highway-based, with major corridors connecting Odessa to Midland and other regional hubs.
Development is largely focused on supporting the energy sector and residential expansion to accommodate the regional workforce.
The Ector County Appraisal District performs annual market value assessments for all taxable real property within the county.
Parcels are subject to levies from Ector County, the City of Odessa, Ector County ISD, and the Odessa College District.
Property insurance premiums in the region are influenced by exposure to severe weather events, including wind and hail, common in West Texas.
Data retrieved from Census Reporter and US Census Bureau ZCTA profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Cinergy Odessa Featuring EPIC4.56.2 mi
- Cinergy Midland South Featuring EPIC4.513.8 mi
- Urban Air Trampoline and Adventure Park415.6 mi
- Chuck E. Cheese3.614.3 mi
- Urban Air Trampoline and Adventure Park4.25.3 mi
- Cinergy Odessa Featuring EPIC4.56.2 mi
- Cinergy Midland South Featuring EPIC4.513.8 mi
- Golden Corral Buffet & Grill45.3 mi
- Ector County Coliseum4.45.5 mi
- Midland County Horseshoe4.516.8 mi
- Cinergy Odessa Featuring EPIC4.56.2 mi
- Cinemark Century Odessa 124.25.5 mi
- McKinney Park4.59.5 mi
- Sherwood Park4.35.1 mi
- Stonehenge Replica4.65.8 mi
- Permian Basin Petroleum Museum4.817.3 mi
- Museum of the Southwest4.417 mi
- Ellen Noël Art Museum4.76.6 mi
- Odessa Meteor Crater4.115.3 mi
- Bush Family Home State Historic Site4.617.1 mi
- McKinney Park4.59.5 mi
- Sherwood Park4.35.1 mi
- Floyd Gwin Park4.38.2 mi
- Comanche Trail West Park4.69.4 mi
- Jim Parker Park4.66.4 mi
- Ratliff Ranch Golf Links4.22.9 mi
- Odessa Country Club4.67.4 mi
- Music City Mall4.15.3 mi
- Ross Dress for Less45.2 mi
- Marshalls4.15.9 mi
- dd's DISCOUNTS4.25.2 mi
- Burlington3.75.2 mi
- Midland International Air & Space Port4.210.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides various community parks and green spaces throughout the city.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.