Cost of Living & Housing in Wichita Falls
Wichita Falls is genuinely affordable by national standards -- a $204,827 citywide median sale price and a BestPlaces cost-of-living score 23.7% below the national average -- though homeowners insurance and property tax estimates carry real, disclosed disagreement across sources.
Exploring the idea of moving?
We can connect you with a local real estate professional who knows the area -- no pressure, just a starting point.
Learn moreHousing Prices -- Genuinely Affordable and Still Appreciating
A May 2026 Redfin snapshot put the citywide median sale price at $204,827, up 7.9% year over year -- real, meaningful appreciation off an already-affordable base, well below the roughly $408K national median cited elsewhere in this project.
Property Taxes -- A Combined County Rate Above the Texas Average
Wichita County's effective property tax rate is cited at 1.77% of home value (median bill $2,501/year on a $141,600 home), the 12th highest of Texas's 254 counties against a cited state average of 1.4%. The City of Wichita Falls' own tax rate for the fiscal year ending September 30, 2026 is $0.6825 per $100 of assessed value -- one layer within that combined county-wide figure. Confirm the exact combined rate for a specific address with the Wichita County Tax Office directly.
Homeowners Insurance -- Sources Disagree Substantially
Estimates range widely: one source cites $3,026/year (above the national average of $2,305/year cited in the same source), another cites $1,982/year, and a third cites $1,389/year -- likely reflecting different coverage levels and deductibles rather than a directly comparable policy. Texas overall ranks the #4 most expensive state in the country for homeowners insurance. Get an address-specific quote before budgeting a precise figure.
Overall Cost of Living
BestPlaces scores Wichita Falls at 76.3 -- 23.7% below the U.S. average, though 19.0% above the Texas state average -- meaning it reads as cheap nationally but not the cheapest option within Texas itself. Median household income is cited at $60,177.
Key takeaways
- Wichita Falls's median home price ($204,827, May 2026) is well below the national median and still appreciating at a real 7.9% year-over-year pace.
- Wichita County's effective property tax rate (1.77%) runs above the cited 1.4% Texas state average -- the 12th highest of Texas's 254 counties.
- Homeowners insurance estimates disagree substantially across sources ($1,389-$3,026/year) -- get a direct, address-specific quote rather than relying on any single figure.
- BestPlaces rates Wichita Falls's overall cost of living 23.7% below the national average but 19.0% above the Texas state average.
Want to know what your budget actually buys here?
Tell us a bit about what you're looking for and we'll connect you with someone local who can walk you through real numbers.
Get local guidanceRead the full Wichita Falls overview for the complete picture -- housing, taxes, climate, and who this place genuinely fits.
Planning a move?
Tell us what you're looking for and we'll connect you with a local expert who can help you make it happen.
Talk to a local expert