Odessa, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Odessa Neighborhoods Since 2000




Odessa, FL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Odessa Housing Market Information

With 7,582 people, 2,515 houses or apartments, and a median cost of homes of $288,274, Odessa real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Odessa, accounting for 66.44% of the town's housing units. Other types of housing that are prevalent in Odessa include large apartment complexes or high rise apartments ( 17.26%), mobile homes or trailers ( 12.90%), and a few row houses and other attached homes ( 2.34%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Odessa. Owner-occupied housing accounts for 78.49% of Odessa's homes, and 61.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Odessa built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Odessa built between 2000 and later ( 43.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.95%).

Vacant housing appears to be an issue in Odessa. Fully 10.88% of the housing stock is classified as vacant. Left unchecked, vacant Odessa homes and apartments can be a drag on the real estate market, holding Odessa real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Odessa Home Appreciation Rates

Odessa's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Odessa during the period has been just -1.89%, which is lower than 80% of US communities.

Appreciation rates are so strong in Odessa that despite a nationwide downturn in the housing market, Odessa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Odessa appreciation rates continue to be some of the highest in America, at 9.84%, which is higher than appreciation rates in 93.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Odessa. Odessa appreciation rates in the latest quarter were at 1.28%, which equates to an annual appreciation rate of 5.24%.

Relative to Florida, our data show that Odessa's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$288,274

Odessa, FL HOME PRICES

Value Range
> $1,239,000 0.0
$929,001 - $1,239,000 0.9
$619,001 - $929,000 5.1
$496,001 - $619,000 12.1
$372,001 - $496,000 17.6
$248,001 - $372,000 16.9
$124,001 - $248,000 31.0
$62,001 - $124,000 8.4
$0 - $62,000 7.9

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
17.4967772178601 28.2051282051282

Number Of Homes And Apartments:
2,515

Odessa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
63.29% 2.88% 4 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,447 / per month

Homeownership Rate

Homeownership
Owners 78.49
Renters 21.51
Vacant 10.88

Housing Market Details

 

Age of Homes

AGE OF Odessa HOMES
2000 or Newer 43.6
1970 - 1999 49.8
1940 - 1969 6.0
1939 or Older 0.7

Types of Homes

TYPE OF Odessa HOMES
Single-Family 66.4
Townhomes 2.3
Small Apt. Buildings 1.1
Apt. Complexes 17.3
Mobile Homes 12.9
Other 0.0

Home Size

SIZE OF Odessa HOMES
No Bedroom 0.25
1 Bedroom 7.23
2 Bedrooms 25.05
3 Bedrooms 38.80
4 Bedrooms 23.07
5 or more bedrooms 5.60