Cheap Apartments for Rent in Odessa, TX from $500 (85 Rentals)

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Search the lowest-cost Apartments available for rent right now in Odessa.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Dorado Ranch
$1,370 - $2,375
Total Monthly Price

Total Monthly Price

Base Rent
$1,370 - $2,375
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Dorado Ranch

3601 Faudree RdOdessa, TX 79765
Luxury
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  • 3D Tour

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 4601 Redbud Ave

$1,700

Total Monthly Price

Total Monthly Price

Base Rent
$1,700
Total Monthly Price
$1,700

Studio, 1 Bath Home for Rent

Available Now

4601 Redbud Ave

OdessaTX79762
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Marquee West
Studio to 3 Bedroom Apartments

Marquee West

1111 W 13th StOdessa, TX 79763
  • Utilities Included
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The Palms II
Studio to 2 Bedroom Apartments

The Palms II

613 Express WayOdessa, TX 79761
Corporate Housing
  • Utilities Included
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Sierra Ridge
1 to 2 Bedroom Apartments

Sierra Ridge

1322 E 7th StOdessa, TX 79761
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Odessa, TX Local Guide

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Staff Writer
Local Guide Expert

Cheapest Available Odessa Apartments for Rent

 

The cheapest available apartment rental in Odessa, TX is a 1 Bed unit found at Westwood Square priced from $799. Sunset has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here is today’s list of the most affordable Odessa apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Westwood SquareOne Bedroom Apartment Home1BR,1BA$799
Sunset1 Bedroom Apartment Home1BR,1BA$799
Arbor OaksAO-33BR,2BA$824
Westwinds Village1/1, 519 sq ft1BR,1BA$875
Alturas Eleventh1 BR x 1 BA1BR,1BA$889
Cimarron Place ApartmentsA1BR,1BA$890
Olivo Square Apartments1 BED | 1 BATH1BR,1BA$895
High PlainsA11BR,1BA$899
Pebblebend ApartmentsAU1BR,1BA$899
Trestles CondominiumsOne Bedroom1BR,1BA$900

Best Value Apartments for Rent in Odessa, TX

As of May 27, 2026 the best value apartment in the Odessa area is the $1.15 price per square foot 2BR/1.5BA Modern Townhouse Bldg A Model at East 12th Townhomes and in the starting from $1,350. The second greatest value Odessa apartment is the Two Bedroom Townhome Model at Country Crest Townhomes starting at $1,460 with a $1.30 price per square foot . Here is today’s list of the best values for Odessa apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
East 12th Townhomes and2BR/1.5BA Modern Townhouse Bldg A2BR,1.5BA$1.15
Country Crest TownhomesTwo Bedroom Townhome2BR,1.5BA$1.30
Hemingway House ApartmentsE2BR,2.5BA$1.39
Arbor OaksAO-22BR,2BA$1.07
Brady Station ApartmentsThe Engle2BR,2BA$1.43
Arbor Terrace TownhomesB2BR,2BA$1.17
Fairgreen1x11BR,1BA$1.39
Cru1Bed 1Bath1BR,1BA$1.29
Westwood SquareOne Bedroom Apartment Home1BR,1BA$1.10
Sunset1 Bedroom Apartment Home1BR,1BA$1.48

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Odessa Overview

Since the early twentieth century, Odessa has been considered a “boom town” for its access to oil and other natural resources. This has led it to become one of the most bullish job markets in the entire country. The city is growing rapidly and the community comes together throughout the year with fun and free festivals and other activities. This expansion is creating a melting-pot effect as more people begin to flow in from all over the country making it an exciting time to own or rent an apartment in Odessa!

Why live in Odessa, TX?

People search for apartments in Odessa to be a part of one of the fastest-growing small cities in America. Still known as an “energy town” with its sister city to the north, Midland, the boom in this industry has continued to influence record-high job growth, up to 60%. Residents have also seen their incomes increase by almost 100% since 2000. As the rest of the country relies heavily on natural resources, Odessa’s in the prime location within the Permian Basin to continue to be its supplier.

Odessa, TX
Population: 120,568

Ranked #236

in US Census Population by City

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Best Local Schools in
Odessa, TX

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Odessa Apartments

What is the Cheapest Studio apartment in Odessa?

Currently the most affordable Cheap Studio Apartment in Odessa is at The Penwell listed at $1,270.

How much is rent for a Cheap One Bedroom Odessa Apartment?

The lowest price for a Cheap One Bedroom Odessa Apartment is $799 at Westwood Square.

What is the lowest price for a Cheap Two Bedroom Odessa Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Odessa is starting from $925 at Sunset.

What is the most affordable Odessa Three Bedroom Apartment?

The best deal on a cheap Odessa Three Bedroom Apartment rental is at Arbor Oaks and starts from $824.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.