Cost of Living in Wichita Falls, TX

With a cost of living index of 73, Wichita Falls, TX is one of the most affordable cities in the country. Living here is 27% cheaper than the national average and 15% below the Texas state average of 88. As a major city with a population of 102,558, Wichita Falls offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Wichita Falls's cost of living. The median monthly rent is $978 (26% below the US median of $1,319), and the median home value sits at $142,600 (53% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Wichita Falls is $58,568, which is 22% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Everyday prices in the Wichita Falls, TX (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.