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Cost of Living in Wichita Falls

Is it better to rent or buy in Wichita Falls? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$68,075
$1,062/mo

Median in area: $1,062

$167,520

Median in area: $167,520

$33,504

If you Rent

🔑
$1,169 /mo
Base Rent$1,062
Est. Utilities$107
% of Income20.6%
Pre-tax Residual$4,504

If you Buy

🏠
$1,297 /mo
P&I (6.5%)$847
Taxes & Ins$343
Est. Utilities$107
% of Income22.9%
Pre-tax Residual$4,376

Cost of Living FAQs

Is it cheaper to rent or buy in Wichita Falls?›

Based on median housing data, renting is currently more affordable on a monthly basis in Wichita Falls. The estimated all-in monthly cost for renting is $1,169, while owning a median-priced home with a 20% down payment is roughly $1,297 per month (a difference of $128).

How much do utilities cost in Wichita Falls?›

The average monthly utility cost (electricity and natural gas) for a typical home in Wichita Falls is approximately $107. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Wichita Falls?›

To comfortably afford the median rent and utilities in Wichita Falls without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $46,760 per year.