Midland-Odessa Regional Economic Index

The Midland-Odessa region has also experienced significant economic growth, growing at more than 20% overall. We invite you to view the tables below for updated economic data and to contact the MDC staff for additional information.


Midland-Odessa Regional Economic Index

Economic Indicators

August 2018

Base Year

1996

Last Year

2017

This Year

2018

% Change

2017-2018

Taxable Spending - August (Per Sales Tax Rebates) $325,578,220 $791,895,144 $1,020,681,929 28.9%
Taxable Spending - YTD $2,174,786,564 $5,158,019,019 $7,204,552,923 39.7%
Dollars Spent on Auto Purchases - August $32,374,518 $128,164,906 $142,190,320 10.9%
Dollars Spent on Auto Purchases - YTD $263,060,962 $819,872,704 $1,113,335,325 35.8%
Hotel/Motel Spending - Quarter $9,408,950 $42,594,239 $81,497,764 91.3%
Hotel/Motel Spending - YTD $26,128,927 $102,573,840 $204,050,409 98.9%
Airline Passenger Enplanements - August 46,117 42,990 54,149 26.0%
Airline Passenger Enplanements - YTD 365,381 339,199 396,574 16.9%
Value All Building Permits - August $23,455,408 $54,864,991 $98,112,103 78.8%
Value All Building Permits - YTD $173,104,628 $521,908,479 $701,882,425 34.5%
Permits for New Homes - August 38 101 160 58.4%
Permits for New Homes - YTD 301 994 1,332 34.0%
Sales of Existing Homes - August 270 368 441 19.8%
Sales of Existing Homes - YTD 1,770 2,722 3,006 10.4%
Average Home Sale Price - August $77,800 $263,265 $275,052 4.5%
Average Home Sale Price - YTD $77,088 $260,063 $281,131 8.1%
Dollar Volume of Residential Real Estate Sales - August $34,559,791 $99,507,329 $121,297,718 21.9%
Dollar Volume of Residential Real Estate Sales - YTD $226,893,973 $732,214,134 $850,566,303 16.2%
Employment
Wage and Salary Employment - August 99,900 169,100 179,500 6.2%
Wage and Salary Employment - YTD Average 99,315 163,825 176,550 7.8%
Unemployment Rate - August 5.6 3.4 2.5 -25.5%
Unemployment Rate - YTD Average 6.0 3.9 2.6 -32.7%
TEXAS PBPI - August 104.2 266.9 333.9 25.1%
INDEX - August (Base = 100 January 1996) 104.3 209.6 250.7 19.6%