Department of Numbers

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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 2013 99.6
September 2013 99.8
June 2013 100.4
March 2013 100.4
December 2012 101.2
September 2012 101.3
June 2012 98.8
March 2012 100.3

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 2013 94.0
September 2013 94.2
June 2013 94.7
March 2013 94.7
December 2012 95.5
September 2012 95.6
June 2012 93.2
March 2012 94.6

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
February 2014 $235,682
January 2014 $232,088
December 2013 $231,270
November 2013 $236,805
October 2013 $238,788
September 2013 $230,457
August 2013 $231,270
July 2013 $233,736
June 2013 $242,247
May 2013 $258,447
April 2013 $261,356
March 2013 $257,488
February 2013 $258,768

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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