Total monthly cost of ownership
Cost to Own a Home in Wichita Falls, Texas
A $143,000 home here costs
$1,378per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $735. The real number is $643 higher every month — 87% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Wichita Falls against Wichita County and Texas
| Measure | Wichita Falls | Wichita County |
|---|---|---|
| Median home value | $142,600 | $141,600 |
| Median property tax | $2,554 | $2,501 |
| Effective tax rate | 1.791% | 1.766% |
| Median gross rent | $978 | $972 |
| Population | 102,558 | 129,842 |
Wichita Falls extends across 2 counties. Figures here use Wichita County, where most of its housing sits.
The weather behind that power bill
Wichita Falls sits in Wichita County, which averages a high of 97.2°F in its hottest month and a low of 30.0°F in its coldest, with 27.89" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 2,445 cooling and 2,897 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Wichita County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wichita County
Common questions
How much does it cost to own a home in Wichita Falls?
A $143,000 home in Wichita Falls, Texas costs approximately $1,378 per month with 20% down at 6.66%. That is $735 principal and interest, $213 property tax, $95 homeowners insurance, $216 utilities and $119 set aside for maintenance.
What is the property tax rate in Wichita Falls?
Wichita Falls has an effective property tax rate of 1.791%, based on a median home value of $142,600 and median real estate taxes of $2,554. That is higher than the Wichita County average of 1.766%.
What is the average home price in Wichita Falls?
The median owner-occupied home value in Wichita Falls, Texas is $142,600, against $141,600 across Wichita County.
Is it cheaper to rent or buy in Wichita Falls?
Median gross rent in Wichita Falls is $978 a month, against $1,378 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wichita Falls — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Texas.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.