Salary Needed to Live in Odessa as a Retiree
A retired individual (65+) needs approximately $17,623/year to live comfortably in Odessa, TX — including 5% savings.
Comfortable Salary
$17,623
with 5% savings
Bare Minimum
$16,448
no savings buffer
Monthly Expenses
$1,028
16% below national avg
Detailed Monthly Budget for a Retiree in Odessa
| Expense | Odessa | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $84 | $121 | -31% |
| 🛒 Groceries | $13 | $16 | -19% |
| ⚡ Utilities | $13 | $15 | -13% |
| 🚗 Transportation | $17 | $18 | -6% |
| 🛡️ Car Insurance | $185 | $223 | -17% |
| 🏥 Health Insurance | $38 | $56 | -32% |
| Medicare Supplement | $176 | $200 | -12% |
| Prescription Drugs | $132 | $150 | -12% |
| Internet + Phone | $106 | $120 | -12% |
| Recreation & Social | $176 | $200 | -12% |
| Home Maintenance | $88 | $100 | -12% |
| Total Monthly | $1,028 | $1,219 | -16% |
How We Calculated the Salary
Monthly expenses:$1,028
Target savings (5%):$58/mo
Monthly after-tax needed:$1,086
Effective tax rate:25%
Gross annual salary needed:$17,623
Other Household Types in Odessa
Related Pages
FAQ
What salary does a retiree need in Odessa?
A retiree needs approximately $17,623/year ($1,469/month gross) to live comfortably in Odessa with a 5% savings rate.
How much is rent for a retiree in Odessa?
A 1-2br senior-friendly in Odessa costs approximately $84/month, which is the largest single expense at 8% of the total budget.
Is Odessa affordable for a retiree?
Yes, Odessa is 16% more affordable than the national average for a retiree.