Department of Numbers

Wichita Falls Texas Residential Rent and Rental Statistics

The median monthly gross residential rent in Wichita Falls, TX (the Wichita Falls metro area) was $748 in 2016 according to the Census ACS survey.1 Average gross rent in Wichita Falls was $733 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Wichita Falls median and average rent data will be released in September of 2018.

Data is also available below for Wichita Falls rental vacancy rates, Wichita Falls rent as a percent of median income and the fraction of renters in Wichita Falls.

Show dollars as: Nominal Real

Real Gross Rent in Wichita Falls Texas (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Texas Median Gross Rent $956 +1.27% +10.90%
Wichita Falls, TX Median Gross Rent $748 -0.66% +2.75%

Wichita Falls, TX Real Gross Rent Trends

Median gross rent for Wichita Falls peaked in real terms in 2008 at $777 and is now $29 (3.73%) lower. Average gross rent for Wichita Falls peaked in real terms in 2008 at $779 and is now $46 (5.91%) lower.

Real Gross Rent in Wichita Falls: Wichita Falls TX Median, Wichita Falls TX Average, Texas Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Wichita Falls

Date US
Median
Texas
Median
Wichita Falls, TX
Median
Wichita Falls, TX
Average
2016 $981 $956 $748 $733
2015 $972 $944 $753 $757
2014 $942 $903 $719 $752
2013 $910 $862 $728 $695
2012 $898 $844 $738 $735
2011 $898 $839 $696 $752
2010 $912 $855 $712 $766
2009 $916 $858 $735 $693
2008 $932 $869 $777 $779
2007 $885 $824 $721 $709
2006 $895 $834 $690 $670
2005 $869 $801 $735 $667

Wichita Falls Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Wichita Falls Texas was 6.97% according to Census ACS data.

Rental Vacancy Rate in Wichita Falls Texas

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Texas 7.65% +0.70% -0.21%
Wichita Falls, TX 6.97% -1.67% -8.48%

Trends in Wichita Falls, TX Rental Vacancy Rate

The rental vacancy rate in Wichita Falls peaked in 2013 at 15.45%. Since then it has fallen by 8.48% to 6.97%. Data records for this series originated in 2005.

Rental Vacancy Rate: Wichita Falls TX, Texas, US

Rental vacancy rate in Texas

Historical Rental Vacancy Rate data for Wichita Falls

Date US Texas Wichita Falls, TX
2016 5.89% 7.65% 6.97%
2015 5.85% 6.95% 8.64%
2014 6.32% 7.30% 12.19%
2013 6.49% 7.86% 15.45%
2012 6.77% 8.53% 8.43%
2011 7.40% 9.23% 13.53%
2010 8.17% 10.60% 12.93%
2009 8.43% 10.69% 12.50%
2008 7.86% 10.24% 12.06%
2007 7.87% 10.61% 12.78%
2006 7.70% 10.28% 14.01%
2005 7.74% 10.60% 14.79%

Rent as a Fraction of Income

Using median household income data for Wichita Falls, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wichita Falls, median monthly gross rent as a fraction of median household income was 19.97% in 2016 according to the ACS.

Wichita Falls Texas Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Texas 20.28% +0.19% +0.39%
Wichita Falls, TX 19.97% +0.43% +0.53%

Trends in Wichita Falls, TX Rent as a Fraction of Income

The fraction of median Wichita Falls household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 20.20%. Since then it has fallen by 0.23% to 19.97%.

Fraction of Income towards Rent: Wichita Falls TX, Texas, US

Percent of median household income going towards median monthly gross rent in Wichita Falls Texas

Historical Data for Annual Rent as a Fraction of Income in Wichita Falls Texas

Date US Texas Wichita Falls, TX
2016 20.43% 20.28% 19.97%
2015 20.63% 20.10% 19.54%
2014 20.89% 20.27% 19.53%
2013 20.78% 19.89% 19.44%
2012 20.65% 19.65% 18.67%
2011 20.70% 19.75% 18.36%
2010 20.50% 19.77% 20.20%
2009 20.12% 19.59% 18.57%
2008 19.00% 18.42% 18.15%
2007 18.66% 18.52% 18.62%
2006 18.90% 18.99% 19.07%
2005 18.89% 19.11% 18.30%

Renter Fraction in Wichita Falls Texas

You can calculate the renter fraction in Wichita Falls in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Wichita Falls as a fraction of total Wichita Falls households. In 2016 39.14% of households were renters according to Census ACS data.

Wichita Falls Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Texas 38.91% -0.03% +0.75%
Wichita Falls, TX 39.14% +1.48% +3.11%

Trends in the Wichita Falls, TX Renter Fraction

At 39.14%, the 2016 household based renter fraction in Wichita Falls was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Wichita Falls TX, Texas, US

Fraction of renters in Wichita Falls

History of Wichita Falls Renter Fraction

Date US Texas Wichita Falls, TX
2016 36.88% 38.91% 39.14%
2015 36.97% 38.94% 37.66%
2014 36.90% 38.84% 33.77%
2013 36.50% 38.16% 36.03%
2012 36.09% 37.72% 38.12%
2011 35.42% 37.08% 31.11%
2010 34.65% 36.42% 34.24%
2009 34.13% 36.32% 34.82%
2008 33.36% 35.10% 31.80%
2007 32.80% 34.82% 33.91%
2006 32.73% 34.75% 35.62%
2005 33.10% 35.29% 33.11%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.