Rent vs buy in Wichita Falls, TX
In Wichita Falls, Texas, the typical rent is $1,312 /mo and a typical home costs $174,273.
Buying comes out ahead by $19k over 7 years
The calculation uses today's mortgage rate with 20% down, based on Wichita Falls's typical rent and typical home value. You break even in year 4.
A clearly labelled opinion with the math included. These figures are estimates, not quotes. Adjust any figure and the stamp reflects it.
- Owning leads by
- $19k after 7 years
- Break-even point
- Year 4 when owning catches up
- Actual cost of owning
- $1,737 each month year 1, against $1,312 rent
Change my numbers
Those typical figures for Wichita Falls's rent and home value set the stamp. Your own rent, price and number of years can reverse the result.
Are your numbers different from the city's?
Enter your rent, house price and down payment. The stamp updates based on those figures.
Is renting or buying cheaper in Wichita Falls?
Buying costs less by $18,878 over 7 years, counting the money you get back when you sell. The net cost of owning falls below renting in year 4 and stays lower.
Rent. Cost of owning. Net cost to date, by year.
Average rent compared with mortgage payment in Wichita Falls
Monthly costs for year 1 include more than rent and the mortgage. Here are all of them at Wichita Falls's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,312 | All of it, every month |
| Mortgage payment | $950 | $837 of it is interest in year 1 |
| Property tax | $244 | 1.68% of the value a year |
| Insurance | $154 | Census median for the city |
| Upkeep | $145 | 1% of the value a year |
| Owning, cash out | $1,493 | $113 of it builds equity |
| Lost return on the down payment | $283 | The return your cash could earn at 8.3% a year |
| Buying costs, spread out | $73 | 3.5% of the price over 7 years |
| True cost of owning | $1,737 | Take cash out, subtract the equity part and add the two lines above. |
The Wichita Falls figures behind the verdict
- Typical home valueZillow ZHVI, September 2026
- $174,273
- Typical rentZillow ZORI, September 2026
- $1,312 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Texas, 1995 to 2025
- 4.7% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Wichita Falls
- 1.68% of value
- Home insuranceCensus ACS 2020-2024, Wichita Falls
- $154 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
Which changes could reverse the Wichita Falls result?
With everything else unchanged, each line marks the point where Wichita Falls's 7-year verdict changes.
When renting comes out ahead
- Our rate is 4.7%, Texas's long-run rate, and home prices grow by less than 3.3% annually.
- The mortgage rate remains above 9.15%.
- For a home like this, renting costs less than $1,110 each month. Here, the typical amount is $1,312.
- Your move comes before year 4.
When buying comes out ahead
- Home prices grow by more than 3.3% a year.
- Your mortgage rate, once locked in, sits below 9.15%. Today's rate is 7.24%.
- The same home would cost more than $1,110 a month to rent.
- You remain in the home for 4 years or more.
Wichita Falls compared with the other 812 cities
| Measure | Wichita Falls | Median city |
|---|---|---|
| Typical home value | $174,273 | $422,451 |
| Typical rent | $1,312 /mo | $1,837 /mo |
| Price-to-rent ratio | 11.1 (#779 of 813) | 18.5 |
| Home prices, last 10 years | 6.3% a year | 6.2% a year |
| Rents, last 5 years | 6.1% a year | 4% a year |
| Property tax | 1.68% | 0.87% |
| Households that rent | 44% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Texas
- Toss-up in Houston, TX: renting leads by $2k, but the result is close.
- Renting leads by $10k in San Antonio, TX.
- Renting leads by $20k in Dallas, TX.
- Renting leads by $17k in Fort Worth, TX.
- Renting leads by $111k in Austin, TX.
- Toss-up in El Paso, TX: buying leads by $2k, but the result is close.
- Renting leads by $34k in Arlington, TX.
- Buying leads by $4k in Corpus Christi, TX.
- Renting leads by $105k in Plano, TX.
- Toss-up in Lubbock, TX: buying leads by $2k, but the result is close.
- Renting leads by $20k in Laredo, TX.
- Renting leads by $36k in Irving, TX.