Texas · 290th largest metro area

Buying a home in Wichita Falls, Texas

In Wichita Falls, the median value of owner-occupied homes is $156,800, Wichita County's effective property tax rate is 1.64%, a purchase mortgage carried a median $5,932 in total loan costs in 2025, and median gross rent is $1,022 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Wichita Falls home costs, fact by fact

About Wichita Falls

Wichita Falls, a city of 102,372 residents, is part of the Wichita Falls, TX metro area, ranked 290th in the nation. Median gross rent is $1,022 per month, and 56.4% of homes are owner-occupied.

Reading the Wichita Falls figures

Wichita Falls sits near the bottom of the value scale among the Texas cities covered. Owners here estimate $156,800, against $318,100 for the state, and the cities listed alongside it mostly report more. Beaumont lists $166,400 and Abilene $183,700, while El Paso lands at $184,500. Only Brownsville, with $139,900, reports less among the cities named here. Dallas, with $320,700, is far up the scale. Owners' estimates are not sale prices, so a particular home can differ widely.

Rent follows the same ladder. The census median is $1,022 a month, under what Laredo reports ($1,030) and what McAllen reports ($1,049), and above the $996 Edinburg reports. Brownsville's $923 is lower still. Abilene rent is $1,157, Dallas $1,472. For the Wichita Falls area, HUD lists $1,145 for the smaller bedroom count and $1,542 for the larger, which is above the census rent. Treat the HUD figures as benchmarks for assistance, not market medians, but they do hint that a new lease may cost more than the median.

Ownership stands at 56.4% of households. That is below Brownsville, with 61.7%, and San Angelo, with 61.2%, and close to Abilene, with 56.1%, and Beaumont, with 55.3%. Edinburg holds 53.3% against 42.4% in Dallas. In short, the city sits near the middle for ownership among Texas places where home values are low.

The tax bill deserves attention. Wichita County applies an effective rate of 1.64%, which falls on a small base, since county homes are valued at $153,700. The resulting median is $2,522 a year. Because the rate bites on a modest value, the bill moves visibly whenever an assessment changes, and a buyer should check how a specific house is assessed instead of leaning on the county median alone.

Reading rent against ownership gives a clear picture. The census rent is $1,022, and owners report $156,800 for their homes, so lease and purchase are both priced at the bottom of the state's range. Brownsville and Edinburg show that similar profiles exist elsewhere: Brownsville owners report $139,900 with rent of $923, while Edinburg owners report $189,600 with rent of $996. Wichita Falls falls between them on value and just above both on rent. Beaumont, with $166,400 and rent of $1,121, sits closest on both counts, and its 55.3% owner share is also near Wichita Falls.

On borrowing, lenders in the county recorded 992 loans in 2025. The median cost was $5,932, and the middle of the field paid between $4,075 and $8,476. That range starts and ends far lower than in the larger cities. The city has 102,372 residents, and its metro area, which spans two counties, ranks 290th nationally with 149,869 people.

Calculate for Texas

If you buy

Texas state transfer tax

Texas has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$318,100
State transfer tax$0
Share of the price—

Default price: the Texas median value of owner-occupied homes, $318,100 (Census ACS 2025). Rule: No transfer tax exists. Buyers pay county recording fees and a state-set title insurance premium. Who pays: No transfer tax to assign. Recording fees and the title insurance premium appear on the closing statement. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Texas transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Texas state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Wichita Falls

How much is property tax in Wichita Falls?

Homeowners in Wichita County pay a median $2,522 a year in property tax, 1.64% of the county median home value of $153,700 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Wichita Falls?

Home-purchase mortgages in Wichita County carried median total loan costs of $5,932 in 2025; half of the 992 loans fell between $4,075 and $8,476 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Wichita Falls?

Texas has no real estate transfer tax. Article VIII, Section 29 of the Texas Constitution, added November 3, 2015, says no law enacted after January 1, 2016 may impose a transfer tax on a transaction that conveys fee simple title to real property.

Is it cheaper to rent or buy in Wichita Falls?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Wichita Falls ($156,800) equals 12.8 years of the median gross rent ($1,022 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Wichita Falls?

Across Texas, the main hazards for home insurance are flood, tornado, wind and hail, and the insurer of last resort is Texas FAIR Plan Association (TFPA). Texas gets more tornadoes than any other state, according to the Texas Department of Insurance; on the coast, windstorm coverage comes from a separate policy, often from TWIA, in 14 coastal counties plus part of Harris County.

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Texas rules that apply in Wichita Falls

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Sources

Texas · All states · Federal guides