Wichita Falls, Texas Housing Market

How much can you negotiate in Wichita Falls?

Only 19 out of every 100 homes for sale have found a buyer. The other 81 are still waiting. Your offer may be the only one on the table. About 1 in 5 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.

A typical Wichita Falls home takes 49 days to find a buyer. Half of them take even longer. That is 22% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 358 homes for sale in Wichita Falls. That is 4.9 times the tightest month on record, but below the peak of 532. Supply is shrinking against last year.

What to do about it

• Start in 76301, 76305, and 76306. Those are the three softest ZIP codes in Wichita Falls.
• Filter for homes listed 60+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• In 76301 only 10 out of 100 homes have a buyer. You can lose a few offers there and still win.

Is now a good time to buy in Wichita Falls?

Asking prices are 16.8% below their Sep 2023 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Wichita Falls prices have risen in 83 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

There is no rush. Prices are still coming down. Watch the homes you like. Come back after they cut. Let the seller move first.

Who will rent from you in Wichita Falls?

In Wichita Falls, 40 out of every 100 households rent. Most own their home. That share has held steady for five years. Renter households average 2.2 people. Two and three bedrooms fit the typical renter.

Households grew 2% in five years. The housing stock held flat. Demand is outrunning supply. 12.1% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

The median Wichita Falls household earns $63,041 a year. Incomes here have grown 4.9% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 3.3 times the median income. Locals can afford to buy here. Your exit buyer can be a family, not just another investor. A tenant on the median income can pay about $1,576 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite a Wichita Falls deal with?

• Price growth to assume — +3.5%/yr. Wichita Falls has grown about 3.5% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices fell 6.7% over the last year. That is a timing signal, not a trend.
• Months of carrying cost — 2. A typical home takes 49 days to sell. Budget that long when you exit or refinance.
• Odds you cut your price to sell — 1 in 5. About 21% of homes on the Wichita Falls market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $118/sqft. The average listing runs +13% above the median. Luxury homes skew it. Comp your own size class per sqft.
• Competition when you exit — -24%. That is how much the number of homes for sale shrank in a year. Your resale will face a smaller crowd than today's comps did.
• Price-to-income ratio — 3.3×. A typical home costs 3.3 times the median income. Locals can afford to buy here. Your exit buyer can be a family, not just another investor. Incomes are rising faster than home prices. Affordability is improving.
• Tenant rent ceiling — $1,576/mo. 30% of the median household income of $63,041. Rents above this line shrink your tenant pool fast.

Is Wichita Falls a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Wichita Falls right now. 19 out of every 100 homes for sale have a buyer, 21% of sellers have cut their price, and a typical home takes 49 days to sell.

Are Wichita Falls home prices going up or down?

Asking prices are 16.8% below their Sep 2023 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

What price growth should I assume for Wichita Falls?

Assume +3.5% a year. Wichita Falls has grown about 3.5% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices fell 6.7% over the last year. That is a timing signal, not a trend.

How fast are homes selling in Wichita Falls?

A typical Wichita Falls home takes 49 days to find a buyer. Half of them take even longer. That is 22% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.

Is Wichita Falls a renters' market or an owners' market?

In Wichita Falls, 40 out of every 100 households rent. Most own their home. That share has held steady for five years. 12.1% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

What rent can Wichita Falls tenants afford?

A tenant on the median income can pay about $1,576 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Wichita Falls household earns $63,041 a year.

Which Wichita Falls ZIP code has the most negotiating room?

76301. Only 10 out of 100 homes there have a buyer. 24% of sellers there have cut their price, and a typical home takes 62 days to sell.