Wichita Falls, Texas Real Estate & Housing Market

Wichita Falls, TX Listings

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Wichita Falls Housing Information

Index	Wichita Falls	Texas	National
Median home price	$94,300	$142,700	$184,700
Median rent asked	$747	$911	$949
Avg. people per household	2.4	2.8	2.6
Owner occupied households	56.1%	61.9%	63.6%
Renter occupied households	43.9%	38.1%	36.4%

Above, you will see a summary of real estate in Wichita Falls, TX. On average, homes in Wichita Falls, TX cost $94,300, a value that is 34% lower than the average in Texas. In general terms, this results in Wichita Falls, TX real estate being more affordable than Texas real estate. On average, people who rent houses in Wichita Falls, TX pay $747; this value is 18% lower than the average amount renters pay in Texas. 56.1% of Wichita Falls, TX residents own their own homes and, on average, each of the homes has 2.4 occupants. Wichita Falls, TX real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Wichita Falls, TX is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Wichita Falls Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Wichita Falls, TX. To estimate home affordability, one method is to use the ratio of home price to median household income. The Wichita Falls, TX’s median home price stands at $94,300 while $43,997 is the value of the average household income. The resulting home price to income ratio, which is 2.1x, differs from the Texas average as the ratio is 18% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Wichita Falls, TX are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Wichita Falls, TX.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Holliday, TX	1,580	$80,500	56%
Iowa Park, TX	6,390	$82,200	55%
Burkburnett, TX	11,046	$94,900	49%
Dean, TX	545	$105,000	43%
Pleasant Valley, TX	380	$106,400	42%
Wichita Falls, TX	105,013	$94,300	49%

Cities with similar population

City, State	Population	Home Price	National Avg.
West Palm Beach, FL	104,978	$198,100	7%
Green Bay, WI	104,951	$125,100	32%
Broken Arrow, OK	104,869	$157,700	15%
College Station, TX	104,684	$192,700	4%
Boulder, CO	105,420	$554,500	200%
Wichita Falls, TX	105,013	$94,300	49%

Source: The Wichita Falls, TX housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).