Wichita Falls, TX—76308
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wichita Falls, TX
As of Oct '25, the median home price in Wichita Falls, TX is $215,000, with a year-over-year change of 1.4%. This indicates that home prices in Wichita Falls, TX are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $215,000 | 1.4% |
| Single Family | $215,000 | 1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $117,000 | -3.3% |
3 Bed | $201,000 | 1.0% |
4 Bed | $355,000 | 2.9% |
| 5 Bed | $493,000 | 4.0% |
% of Housing Stock
Rental Trends — Wichita Falls, TX
As of July '25, Rentcast reports the average rent in Wichita Falls, TX is $1,380, with a year-over-year rent change of -16.9%. Per bedroom, the median rent as of July '25 in Wichita Falls, TX is 1-bedrooms: $782, 2-bedrooms: $1,180, 3-bedrooms: $1,530, 4-bedrooms: $2,300. The most common rental property sizes in Wichita Falls, TX are 2-bedroom and 1-bedroom, accounting for 40.0% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $782 |
| 2 Bed Rent | $1,050 | $1,180 |
| 3 Bed Rent | $1,350 | $1,530 |
| 4 Bed Rent | $1,680 | $2,300 |
% of Rental Stock
Property Listings — Wichita Falls, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Wichita Falls, TX is 63. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $282,000 | -2.0% |
Listing Count | 103 | 9.0% |
| Listings as % of Homes | 0.5% | 9.0% |
Days on Market | 63 | -2.0% |
Demographics — Wichita Falls, TX
As of the latest ACS Survey released in 2023, Wichita Falls, TX has a population of 21,300, which has increased by 11.4% over the past 5 years. Wichita Falls, TX is a moderately popular place for families, as children make up 23.4% of the population. The area has a moderately educated workforce, with 34.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,300 | 11.4% |
% Under 18 | 23.4% | 20.0% |
% Seniors | 15.4% | 2.0% |
% WFH | 10.2% | 308.0% |
% w/ College Degree | 34.8% | -11.7% |
As of the latest ACS Survey released in 2023, Wichita Falls, TX is a predominantly white area, with 71.9% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Wichita Falls, TX is hispanic, making up 15.7% of the population. Foreign-born residents account for 6.1% of the population in Wichita Falls, TX, and this percentage has decreased by 21.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 71.9% | -3.1% |
% Black | 8.7% | 1.2% |
% Hispanic | 15.7% | 33.1% |
% Asian | 1.2% | -67.6% |
% Foreign Born | 6.1% | -21.8% |
Mortgage and Risk — Wichita Falls, TX
According to HUD data as of 2023, there were 272 mortgage originations in Wichita Falls, TX, of which 65.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Wichita Falls, TX. Investor activity is low, as 7.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 272 |
% Conventional Loans | 65.0% |
% Government Loans | 35.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Wichita Falls, TX
As of 2024, the percent of homes in Wichita Falls, TX under the Section 8 program is 1.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Wichita Falls, TX, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 40 |
Total Units Section 8 | 40 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $210 | $750 | $960 |
| 2 Bedroom | $130 | $1,050 | $1,180 |
| 3 Bedroom | $260 | $1,350 | $1,610 |
| 4 Bedroom | $150 | $1,680 | $1,830 |
Affordability — Wichita Falls, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $215,000 |
| Median Household Income | $70,800 |