Updated 2026 · Based on median market data for Wichita Falls, TX
The median monthly rent in Wichita Falls, TX is $1,260, translating to $15,120 in annual gross rental income per unit. The rent-to-price ratio is 0.74% — below the 1% rule but within a range where deals can work with good financing.
Renters in Wichita Falls spend approximately 24% of the local median household income ($63,735) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Wichita Falls is 5.8%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 1.8% annually is actively adding rental demand.
Wichita Falls's GRM (price divided by annual rent) is 11.2x. A GRM under 12x is excellent — it means you're paying less than 12 years of gross rent for the property, suggesting strong income relative to price. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,260/mo, a single-family rental in Wichita Falls generates approximately $15,120 in gross annual income. After accounting for 5.8% vacancy ($877 lost), property taxes of $2,924, insurance (~$680), and maintenance (~$680), the estimated NOI is $9,959 per year, or $830/mo.
Wichita Falls vs Texas state average and national average across key investment metrics. Wichita Falls outperforms both benchmarks on cap rate.