Quick facts: Wichita falls, TX

Quick Facts

90.4
Cost of Living
below US average
102,664
Population
33.6
Crime Rate per 1000
above US average
$55,584
Median Income
below US average
$78,000
Median House Price
above US average
$1022.25
Average Rent
below US average
14%
Poverty Rate
above US average
4.9%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $55,584.

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Income Needed to Buy

βœ“ Affordable
$24k/year
Based on $78,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($55,584) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$44k/year
Based on $1022.25/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($55,584) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Wichita falls, TX

Wichita Falls is a vibrant city located in north-central Texas, known for its rich history and welcoming community. With a population of around 104,000, it serves as a cultural and economic hub for the region. The city is named after the nearby falls on the Wichita River, which once attracted settlers and visitors. Wichita Falls boasts a diverse range of attractions, including the beautiful Lucy Park, home to walking trails, picnic areas, and a serene pond. The city's downtown area features historic architecture, local shops, and a variety of dining options, reflecting its southwestern charm. Cultural venues such as the Wichita Falls Museum and Art Center offer insights into the area's heritage and artistic expression. The city's economy is supported by sectors like healthcare, education, and manufacturing, while the presence of Sheppard Air Force Base contributes to its stability. Wichita Falls also hosts annual events and festivals, fostering community spirit. With its blend of outdoor activities, cultural experiences, and family-friendly amenities, Wichita Falls is an appealing destination or hometown for many residents.

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