Wichita Falls, TX home values, income, and owner costs

Start with the dated local finding: In Wichita Falls, TX, the 2024 ACS reports a median owner-occupied home value of $156,800, median household income of $60,177, and median selected monthly owner costs of $1,530 for owners with a mortgage. Together, those three reference points may help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,530 measure combines recurring ownership expenses in place of real estate taxes alone. For borrower planning, a useful affordability review starts with $156,800, $60,177, and $1,530, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.

Wichita Falls, TX's $156,800 median home-value estimate is below the statewide $283,800 estimate, with a reported city-to-state gap of 44.7%. That 44.7% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Wichita Falls, TX. It does not mean every local property is 44.7% away from a comparable property elsewhere in the state, because the medians reflect different housing mixes and geographies. For borrower planning, a borrower may use $156,800 and $283,800 to decide which assumptions need local replacement first, then compare actual properties and current financing disclosures on the same basis.