Cost of Living in Wichita falls, TX
Wichita falls cost of living index: 62.5 (below the US average). Median home price: $170,000.
Updated 2026 • Based on 7 local zip codes
📍 Some data sourced from nearby metro area
% below the national average
Housing
Data from 7 zip codes
Housing costs in Wichita falls, TX based on real market data from 7 local zip codes.
In Wichita falls, TX, the housing index stands at 44.7, suggesting it's a relatively affordable market compared to the national average. The median home price is 170000.0, indicating it's a feasible investment for potential homeowners. Average rents for a 2-bedroom apartment and a 2-bedroom house are 936.67 and , respectively, suggesting an accessible rental market. Additionally, considering the trend of remote work, areas like Wichita falls may become increasingly attractive for prospective movers seeking both affordability and lifestyle. Ultimately, this data can help guide your decision-making in relocating or investing in real estate.
Last updated: January 2026
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
Living in Wichita falls, TX could entail variable utility costs. Electricity costs sit at $14.47, while natural gas is priced at $26.29 per Thousand Cubic Feet. Expect to budget about $250.0 monthly for other services like water and garbage.
Cost Breakdown by Category
Local Income & Economy in Wichita falls, TX
How far does your money go in Wichita falls? Understanding the relationship between income and cost of living is key to evaluating affordability.
How We Calculate Adjusted Purchasing Power in Wichita falls
The adjusted purchasing power shows what a Wichita falls, TX household income is actually worth after accounting for local prices. We calculate it using the formula: Purchasing Power = Median Income ÷ Cost of Living Index × 100
For Wichita falls, that's $55,584 ÷ 62.5 × 100 = $88,934. This means a household earning the median income in Wichita falls has the equivalent buying power of $88,934 in a city where the cost of living index equals the national baseline of 100.
Wichita falls is well below the national cost of living average at 62.5, making it one of the more affordable places to live in TX. The median income of $55,584 has an effective purchasing power of $88,934 — a meaningful boost that allows residents to save more, invest in real estate, or enjoy a higher standard of living compared to expensive metro areas.
Combined with a low poverty rate of 14% and healthy job market (4.9% unemployment), Wichita falls offers strong value for families, investors, and anyone looking to relocate to a city where income goes further.
💡 Purchasing power is calculated by dividing the local median household income by the cost of living index and multiplying by 100. A result higher than the nominal income means your money goes further; a lower result means local prices erode your earnings. The US baseline cost of living index is 100.
Pros & Cons of Living in Wichita falls
Pros
- • Friendly community
- • Kids' activities available
- • Diverse dining options
- • Nearby outdoor activities
- • Less traffic congestion
- • Good schools in area
- • Affordable housing
- • Growing job market
- • Low cost of living
- • Local events and festivals
Cons
- • Less cultural diversity
- • Political divisiveness noticeable
- • Higher crime rates reported
- • Limited public transportation
- • School funding concerns
- • Few entertainment options
- • Economic challenges persist
- • Nightlife options limited
- • Perception of racism issues
- • Extreme weather conditions
💡City Insights
Wichita falls scores 10/10 for affordability, 5/10 for safety, and 5/10 for family-friendliness — an good overall profile. Its strongest aspect is affordability, making it particularly suitable for budget-conscious buyers. This balanced profile makes Wichita falls worth considering for various lifestyle priorities.
Frequently Asked Questions
What is the cost of living in Wichita falls, TX? ▼
The cost of living in Wichita falls, TX is 38% lower than the national average, with a cost of living index of 62 (where 100 represents the U.S. average). Housing typically accounts for the largest portion of living expenses. See full cost of living breakdown →
How much does it cost to buy or rent a home in Wichita falls, TX? ▼
In Wichita falls, TX, The median home price is $170,000. requiring approximately $79,286 annual income to afford. Average rent is $937/month (requiring ~$37,467/year income). The local median household income is $55,584, making homeownership attainable for typical residents. Explore Wichita falls real estate data →
Is Wichita falls, TX a safe place to live? ▼
Wichita falls, TX is average in terms of safety, with crime rates near the national average. Safety varies significantly by neighborhood. View detailed Wichita falls crime statistics →
What salary do you need to live comfortably in Wichita falls, TX? ▼
To live comfortably in Wichita falls, TX and afford a median-priced home of $170,000, you would typically need a household income of $42,500 to $53,125 per year. The local median household income is $55,584. Renting requires approximately $37,467/year (at $937/month). See full affordability analysis →
What are the best neighborhoods in Wichita falls, TX? ▼
The best neighborhoods in Wichita falls, TX depend on your priorities. For families, look for areas near top-rated schools with lower crime rates. For affordability, neighborhoods throughout the city offer good value since the median home price of $170,000 is below the national average.
How are the taxes in Wichita falls, TX? ▼
Tax rates in Wichita falls, TX include state and local components. The cost of living index of 62 suggests a lower overall tax and expense burden cost environment compared to the national average. View detailed Wichita falls tax information →
How does Wichita falls, TX compare to nearby cities? ▼
Wichita falls, TX offers a more affordable alternative to nearby communities. With a cost of living index of 62, median home prices of $170,000, and a crime rate of 0 per 1,000 residents, you can compare these metrics side-by-side. Use the compare feature to evaluate specific cities.
What is the weather like in Wichita falls, TX? ▼
Weather in Wichita falls, TX varies by season. Climate data varies by season. View detailed Wichita falls climate & environment data →
What factors affect cost of living in Wichita falls, TX? ▼
The main factors affecting cost of living in Wichita falls, TX include housing costs (the biggest factor), utilities, groceries, transportation, and healthcare. Local taxes and the overall economic conditions also play a role.
Housing Costs by Zip Code
Detailed housing data across 7 zip codes in Wichita falls, TX.
| Zip Code | Median Home Price | Avg Rent | 2BR Rent | For Sale | For Rent |
|---|---|---|---|---|---|
| 76301 | $78,000 | $1,022/mo | $875/mo | 132 | 55 |
| 76302 | $227,500 | $1,374/mo | $950/mo | 44 | 15 |
| 76305 | $170,000 | $1,250/mo | — | 31 | 1 |
| 76306 | $135,000 | $1,190/mo | $700/mo | 70 | 35 |
| 76308 | $249,000 | $1,910/mo | $1,100/mo | 79 | 41 |
| 76309 | $164,500 | $1,076/mo | $900/mo | 88 | 44 |
| 76310 | $299,900 | $1,948/mo | $1,095/mo | 126 | 36 |
Explore More About Wichita falls, TX
📅 Last Updated: January 2026
Sources: U.S. Census Bureau (ACS), Bureau of Labor Statistics, Council for Community and Economic Research (C2ER), Zillow, Redfin