Department of Numbers

Wichita Falls, Texas Home Affordability

The data below measures home affordability for the Wichita Falls, Texas metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Wichita Falls home affordability to other cities.

Wichita Falls, Texas Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Wichita Falls HPI series. Median household income data for Wichita Falls is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Wichita Falls, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 118.7
September 2011 119.9
June 2011 116.7
March 2011 118.4
December 2010 119.3
September 2010 117.5
June 2010 117.5
March 2010 116.1
December 2009 105.4

Wichita Falls, Texas Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Wichita Falls median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Wichita Falls, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 104.3
September 2011 105.3
June 2011 102.5
March 2011 104.0
December 2010 104.8
September 2010 103.2
June 2010 103.2
March 2010 102.0
December 2009 107.7

Wichita Falls, Texas Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Wichita Falls, Texas and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Wichita Falls, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $209,558
December 2011 $208,545
November 2011 $207,790
October 2011 $205,796
September 2011 $204,809
August 2011 $200,933
July 2011 $194,408
June 2011 $195,321
May 2011 $192,379
April 2011 $187,981
March 2011 $187,981
February 2011 $185,627
January 2011 $189,722

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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