Wichita Falls, TX mortgage & affordability calculator
The typical home in Wichita Falls, TX is worth about $165,000.
With 20% down that's a loan near $132,000 — the calculator
is pre-filled with that figure. Sheppard Air Force Base, the Air Force's largest technical-training wing, and Midwestern State University anchor Wichita Falls, whose home prices are among the most affordable of any Texas metro in this dataset.
$857.03 / month
Total interest
$176,528
Total paid
$308,528
Payoff
30.0 years
How much you need to earn
Wichita Falls, TX's median household income is about
$54,000 a year. Under standard 28/36
lending rules that supports a home price around
$142,291 with 20% down —
below the $165,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Wichita Falls, TX is about $950 a month, so owning the median home costs roughly
$457 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Wichita Falls, TX?
On the metro's roughly $165,000 typical home with 20% down, the loan is about $132,000. Principal and interest run near $857 a month at today's rate, and Wichita Falls, TX's property tax plus insurance add about $550, for a full payment near $1,407.
Can I afford a home in Wichita Falls, TX on the median income?
The median household income is about $54,000 a year. Under standard 28/36 lending rules that supports a home price around $142,291 with 20% down — below the $165,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Wichita Falls, TX?
Typical asking rent is about $950 a month. The full owner payment on a median home is near $1,407, so owning costs roughly $457 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Wichita Falls, TX?
The effective property tax rate in the core county is about 1.70% of market value — roughly $2,805 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Wichita Falls, TX rising or falling?
Home values are up about 2% over the past year. Sheppard Air Force Base, the Air Force's largest technical-training wing, and Midwestern State University anchor Wichita Falls, whose home prices are among the most affordable of any Texas metro in this dataset.