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2010 Texas Metro Market Overview Wichita Falls

Table of Contents
Introduction.............................................................................................. 1
MSA Map................................................................................................. 2
Demographics......................................................................................... 3
Education................................................................................................ 9
Employment.......................................................................................... 10
Economy............................................................................................... 17
Military................................................................................................... 18
Infrastructure......................................................................................... 23
Multifamily.............................................................................................. 24
Housing................................................................................................. 25
Hotel...................................................................................................... 33
Real Estate Center................................................................................ 34

Market reports are updated annually. The Real Estate Center also publishes NewsTalk Texas, a compilation of market
news, which is updated continuously throughout the year. It allows market analysts to access the most current information
available. For more current information about this Metropolitan Statistical Area (MSA) or any of the other Texas MSAs,
please go to http://recenter.tamu.edu/newstalk/.

Note: In 2009, two MSA names were changed—Austin-Round Rock is now Austin-Round Rock-San Marcos, and San
Antonio is now San Antonio-New Braunfels. In 2003, the U.S. Census Bureau revised its definition of counties included
in some Texas MSAs. As a result, most information presented in this report reflects Texas’ 2003 MSA definition. However,
some of the data reported to the Center are based on the Bureau’s 1999 definition. Data using the 1999 MSA definition
are stated where applicable.

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2010 Texas Metro Market Overview

Introduction
Wichita Falls
The Wichita Falls Metropolitan Statistical
Area (MSA) boasts a population of more
than 378,000 living within the 60-mile-radius Quick Facts
trading area. The City of Wichita Falls covers MSA Land Area (2009 definition) 2,674.96 square miles
62.5 square miles, is 15 miles from the Red 2009 Population Density 55.1 people per square mile
River and Oklahoma border, being equidistant
Counties Archer, Clay, Wichita
from Dallas–Fort Worth and Oklahoma City,
and is just 20 miles from the geographical Area Cities and Towns
center of the United States. Archer City, Burkburnett, Dundee, Electra, Henrietta, Holliday, Iowa
Park, Jolly, Mankins, Megragel, Scotland, Wichita Falls
The name “Wichita” is derived from a This report’s MSA data reflects either 1999 or 2009 MSA definitions based on data
availability. Use of 1999 definition is noted where applicable.
Choctaw word, “wia chitoh,” meaning “big
arbor.” The city received its name from a Sources: U.S. Census Bureau and Real Estate Center at Texas A&M University

Wichita Indian encampment near a small river


waterfall, which was washed away in an 1886
flood. In 1986, a 54-foot replacement waterfall
was built.

By 1907 Wichita Falls had become the center of the North Sheppard Air Force Base, one of a series of flight-training
Texas and South Oklahoma cotton industry. Two com- facilities established by the United States Army Air Corps
presses, 25 gins and 43 brokerage firms were located in in 1940–41, is just north of the Wichita Falls city limits and
the area. Corn and wheat, however, were the major money houses the 80th Flying Training Wing and the 82nd Training
crops. With the aid of the railroads, Wichita Falls became Wing.
one of the most important milling and grain shipping
centers in the southern United States. Later, the oil boom Wichita Falls is the birthplace of Larry McMurtry, author of
became the economic driver of the area. Terms of Endearment and Lonesome Dove.
Source: Wichita Falls Convention & Visitors Bureau
and The Handbook of Texas Online

Microsoft product screen shot reprinted with permission from Microsoft Corp.

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2010 Texas Metro Market Overview Wichita Falls

Metropolitan Statistical Areas (MSAs)


MSA Map
DALLAM SHERMAN HANSFORD OCHILTREE LIPSCOMB

HARTLEY MOORE HUTCHINSON ROBERTS HEMPHILL

2
POTTER CARSON
OLDHAM GRAY WHEELER

RANDALL ARMSTRONG
DEAF SMITH DONLEY COLLINGSWORTH

PARMER CASTRO SWISHER BRISCOE HALL CHILDRESS

HARDEMAN

WICHITA

25
BAILEY LAMB HALE FLOYD MOTLEY COTTLE
WILBARGER
FOARD

14 20
CLAY GRAYSON

21
ARCHER MONTAGUE LAMAR
COCHRAN HOCKLEY DICKENS KING KNOX BAYLOR COOKE FANNIN RED RIVER
LUBBOCK CROSBY
DELTA BOWIE

WISE DENTON FRANKLIN


JACK COLLIN HUNT
YOAKUM TITUS
TERRY LYNN GARZA KENT STONEWALL HASKELL THROCKMORTON YOUNG HOPKINS

8
MORRIS
CASS
CAMP
ROCKWALL
PARKER RAINS WOOD
JONES SHACKLEFORD UPSHUR MARION
TARRANT DALLAS

1
GAINES DAWSON BORDEN SCURRY FISHER STEPHENS PALO PINTO
KAUFMAN

22 13
SMITH GREGG HARRISON
VAN ZANDT
HOOD JOHNSON ELLIS
CALLAHAN
ANDREWS MARTIN HOWARD MITCHELL NOLAN TAYLOR EASTLAND
ERATH SOMERVELL HENDERSON

17 16
PANOLA
RUSK

9
HILL NAVARRO
EL PASO

24
COMANCHE
STERLING BOSQUE CHEROKEE
LOVING WINKLER COKE RUNNELS
ECTOR MIDLAND COLEMAN BROWN ANDERSON
SHELBY
FREESTONE

18
GLASSCOCK HAMILTON
CORYELL MCLENNAN NACOGDOCHES
MILLS LIMESTONE

11
HUDSPETH CULBERSON WARD SAN
CRANE AUGUSTINE
UPTON REAGAN
HOUSTON SABINE
CONCHO LEON
REEVES IRION TOM GREEN LAMPASAS FALLS
ANGELINA
MCCULLOCH SAN SABA ROBERTSON

6
BELL TRINITY
MADISON
SCHLEICHER MENARD
POLK JASPER NEWTON
BURNET MILAM TYLER
PECOS BRAZOS WALKER
JEFF DAVIS CROCKETT MASON LLANO
WILLIAMSON SAN
BURLESON JACINTO
KIMBLE

4
SUTTON HARDIN

3
TRAVIS GRIMES
GILLESPIE LEE MONTGOMERY
TERRELL BLANCO ORANGE
WASHINGTON LIBERTY

10
KERR HAYS BASTROP JEFFERSON
AUSTIN
PRESIDIO EDWARDS WALLER
VAL VERDE CHAMBERS
REAL
BREWSTER KENDALL CALDWELL FAYETTE
HARRIS
COMAL
BANDERA
COLORADO FORT BEND

19
GUADALUPE GALVESTON
GONZALES
KINNEY LAVACA
UVALDE MEDINA BRAZORIA
WHARTON
BEXAR

23
WILSON DE WITT
JACKSON

ZAVALA FRIO KARNES MATAGORDA


MAVERICK
ATASCOSA VICTORIA
GOLIAD
CALHOUN

DIMMIT
MCMULLEN BEE REFUGIO
LA SALLE
LIVE OAK ARANSAS

12 7
SAN PATRICIO

JIM
WELLS
DUVAL NUECES

1. Abilene 14. Lubbock WEBB


KLEBERG

2. Amarillo 15. McAllen-Edinburg-Mission


3. Austin-Round Rock-San Marcos 16. Midland ZAPATA JIM HOGG BROOKS
KENEDY

4. Beaumont-Port Arthur 17. Odessa


5. Brownsville-Harlingen 18. San Angelo STARR

15 WILLACY

6. College Station-Bryan 19. San Antonio-New Braunfels HIDALGO

5
CAMERON

7. Corpus Christi 20. Sherman-Denison


8. Dallas-Fort Worth-Arlington 21. Texarkana
9. El Paso 22. Tyler
10. Houston-Sugar Land-Baytown 23. Victoria
11. Killeen-Temple-Fort Hood 24. Waco
12. Laredo 25. Wichita Falls
13. Longview

Prepared by the Labor Market and Career Information Department, TWC


Edited by Real Estate Center at Texas A&M University

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2010 Texas Metro Market Overview Wichita Falls

Demographics
Wichita Falls MSA Population*
Percent
Year Population Change
1998 151,206 -
1999 151,374 0.1
County Population* Growth
2000 151,524 0.1
Wichita Falls MSA
2001 149,313 -1.5
Growth 1999–2009
2002 148,907 -0.3 County 1999 2009 (in percent)
2003 148,547 -0.2 Archer 8,455 8,912 5.4
2004 147,751 -0.5 Clay 10,673 10,893 2.1
2005 146,276 -1.0 Wichita 132,246 127,616 -3.5
2006 145,528 -0.5 *July 1 population estimates
Source: U.S. Census Bureau
2007 148,148 1.8
2008 147,328 -0.6
2009 147,421 0.1
*July 1 population estimates
Source: U.S. Census Bureau

Area Cities With 10,000 or More Residents


2000 2008 Growth 2000–08
City Population Population* (in percent)
Burkburnett 10,927 10,418 -4.7
Wichita Falls 104,197 101,202 -2.9
*2008 numbers are estimates
Source: U.S. Census Bureau

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2010 Texas Metro Market Overview Wichita Falls

Household Composition
Wichita Falls MSA Texas
Average household size 2.50 2.74
Population younger than 18 (in percent) 25.3 28.2
Population 65 and older (in percent) 12.8 9.9
Source: U.S. Census Bureau 2000 (1999 definition)

Distribution by Race and Hispanic or Latino Origin


(in percent)
Wichita Falls MSA Texas
White 79.8 71.0
Black 9.6 11.5
Asian 1.7 2.7
American Indian 0.9 0.6
Other 5.3 11.7
Two or more races 2.6 2.5
Hispanic (of any race) 11.8 32.0
Source: U.S. Census Bureau 2000 (1999 definition)

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2010 Texas Metro Market Overview Wichita Falls

Texas Metropolitan Area


Population Growth Forecast, 2000–20
Texarkana
Wichita Falls
Beaumont-Port Arthur
Abilene
Sherman-Denison
San Angelo
Lubbock
Longview
Midland
Tyler
Waco
Odessa
Victoria
Amarillo
College Station-Bryan
San Antonio-New Braunfels
Corpus Christi
Texas
Killeen-Temple-Fort Hood
El Paso
Houston-Sugar Land-Baytown
Dallas-Fort Worth-Arlington
Brownsville-Harlingen
Austin-Round Rock-San Marcos
McAllen-Edinburg-Mission
Laredo

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Source: Texas State Data Center – Scenario 0.5 (2006 projection)

Wichita Falls MSA Projected Population


Texas State Data Center Texas Water Development
Year (Scenario 0.5) Board
2000 151,524 151,524
2005 155,551 -
2010 159,225 159,123
2015 162,846 -
2020 165,916 166,046
2025 168,309 -
2030 169,965 170,471
2035 170,951 -
2040 171,356 172,191
Sources: Texas State Data Center (Feb. 2009 projection)
and Texas Water Development Board (2006 projection)

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2010 Texas Metro Market Overview Wichita Falls

Texas Metropolitan Area Population* Change


Percent
Metropolitan Area 1999 2009 Change
Austin-Round Rock-San Marcos 1,205,898 1,705,075 41.4
McAllen-Edinburg-Mission 555,875 741,152 33.3
Laredo 189,014 241,438 27.7
Dallas-Fort Worth-Arlington 5,059,956 6,447,615 27.4
Houston-Sugar Land-Baytown 4,644,526 5,867,489 26.3
San Antonio-New Braunfels 1,689,009 2,072,128 22.7
Brownsville-Harlingen 330,277 396,371 20.0
Tyler 172,758 204,665 18.5
Texas 20,558,220 24,304,290 18.2
Killeen-Temple-Fort Hood 325,473 379,231 16.5
College Station-Bryan 182,327 212,268 16.4
Midland 117,621 132,316 12.5
Lubbock 247,882 276,659 11.6
El Paso 675,397 751,296 11.2
Waco 211,548 233,378 10.3
Sherman-Denison 109,173 120,030 9.9
Odessa 122,450 134,625 9.9
Amarillo 224,469 246,474 9.8
Longview 194,184 206,874 6.5
Texarkana 129,486 137,486 6.2
San Angelo 105,657 110,119 4.2
Victoria 111,409 115,396 3.6
Corpus Christi 404,155 416,095 3.0
Abilene 159,755 160,070 0.2
Beaumont-Port Arthur 385,034 378,477 -1.7
Wichita Falls 151,374 147,421 -2.6
*July 1 population estimates
Source: U.S. Census Bureau

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2010 Texas Metro Market Overview Wichita Falls

Interstate and Cross-Border


2009 Migration Patterns – traffic flow by state/province
Based on 71,474 Interstate Household Goods Moves from January 1, 2009 through December 31, 2009

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2010 Texas Metro Market Overview Wichita Falls

Texas Migration
2005–07 Inflow

Illinois
California 61,299
244,907
Oklahoma
74,604 Florida
117,109

Texas
Louisiana
229,114

2005–07 Outflow

California Colorado
122,974 54,327
Oklahoma
80,112 Florida
83,176

Texas
Louisiana
82,488

Source: Pew Research Center tabulations from American Community Survey, Integrated Public Use Microdata Series
http://pewsocialtrends.org/maps/migration Latest Data Dec. 2008

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2010 Texas Metro Market Overview Wichita Falls

Education
Educational Attainment, Persons Age 25 and Older (in percent)
Wichita Falls MSA
High school Some college, Associate’s Bachelor’s Master’s Doctorate
County graduate no degree degree degree degree degree
Archer 36.0 26.1 3.0 11.8 2.9 0.3
Clay 39.6 22.3 4.6 11.1 1.8 0.1
Wichita 29.8 24.2 5.9 14.3 4.0 0.6
Texas 24.8 22.4 5.2 15.6 5.2 0.8
Source: U.S. Census Bureau 2000

Educational Level, Persons Age 25 and Older


(in percent)
Wichita
Level of Education Falls MSA Texas
High School Graduate or Higher 80.0 75.7
Bachelor’s Degree or Higher 19.7 23.2
Source: U.S. Census Bureau 2000 (1999 definition)

Local College and University Enrollment, Fall Semester


School 2005 2006 2007 2008 2009
Midwestern State University 6,182 5,945 5,872 5,843 6,042
Source: Texas Higher Education Coordinating Board

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2010 Texas Metro Market Overview Wichita Falls

Employment
Average Annual Distribution of Employment in Major Categories
Wichita Falls MSA
70,000

60,000

50,000
Total Annual Jobs

40,000

30,000

20,000

10,000

0
2005 2006 2007 2008 2009

Mining, Logging and Construction Manufacturing


Trade, Transportation and Utilities Information
Financial Activities Professional and Business Services
Educational and Health Services Leisure and Hospitality
Government

Data as of March 2010. For the latest data, please see the Real Estate Center's Monthly Review of the Texas Economy.
Sources: Texas Workforce Commission and Real Estate Center at Texas A&M University

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2010 Texas Metro Market Overview Wichita Falls

Metropolitan Area Nonfarm Employment Change


1999–2009
Sherman-Denison
Wichita Falls
Beaumont-Port Arthur
San Angelo
Victoria
Abilene
Waco
Dallas-Fort Worth-Arlington
Texarkana
El Paso
Lubbock
Amarillo
Corpus Christi
Texas
Tyler
San Antonio-New Braunfels
Houston-Sugar Land-Baytown
Longview
Killeen-Temple-Fort Hood
Austin-Round Rock-San Marcos
Brownsville-Harlingen
College Station-Bryan
Odessa
Midland
Laredo
McAllen-Edinburg-Mission

-10% 0% 10% 20% 30% 40% 50% 60%

Data as of March 2010. For the latest data, please see the Real Estate Center's
Monthly Review of the Texas Economy.
Sources: Texas Workforce Commission and Real Estate Center at Texas A&M University

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2010 Texas Metro Market Overview Wichita Falls

Texas Metropolitan Area Population* Change


Percent
Metropolitan Area 1999 2009 Change
Austin-Round Rock-San Marcos 1,205,898 1,705,075 41.4
McAllen-Edinburg-Mission 555,875 741,152 33.3
Laredo 189,014 241,438 27.7
Dallas-Fort Worth-Arlington 5,059,956 6,447,615 27.4
Houston-Sugar Land-Baytown 4,644,526 5,867,489 26.3
San Antonio-New Braunfels 1,689,009 2,072,128 22.7
Brownsville-Harlingen 330,277 396,371 20.0
Tyler 172,758 204,665 18.5
Texas 20,558,220 24,304,290 18.2
Killeen-Temple-Fort Hood 325,473 379,231 16.5
College Station-Bryan 182,327 212,268 16.4
Midland 117,621 132,316 12.5
Lubbock 247,882 276,659 11.6
El Paso 675,397 751,296 11.2
Waco 211,548 233,378 10.3
Sherman-Denison 109,173 120,030 9.9
Odessa 122,450 134,625 9.9
Amarillo 224,469 246,474 9.8
Longview 194,184 206,874 6.5
Wichita Falls 151,374 147,421 6.2
Texarkana 129,486 137,486 4.2
San Angelo 105,657 110,119 3.6
Victoria 111,409 115,396 3.0
Corpus Christi 404,155 416,095 0.2
Abilene 159,755 160,070 -1.7
Beaumont-Port Arthur 385,034 378,477 -2.6
*July 1 population estimates
Source: U.S. Census Bureau

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2010 Texas Metro Market Overview Wichita Falls

Average Annual Nonfarm Employment Growth


Wichita Falls MSA
3.0

2.0 1.8 1.8


Percentt Change from Previous Year

1.0
0.8
0.2
0.2
0.0

-0.5
-1.0 -1.3
-1.3 -1.3
-2.0

-3.0

-4.0
-4.2

-5.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Data as of March 2010. For the latest data, please see the Real Estate Center's Monthly Review of the Texas Economy.
Sources: Texas Workforce Commission and Real Estate Center at Texas A&M University

Average Annual Nonfarm Employment


Wichita Falls MSA
Percent
Year Employment Change
1999 61,100 -
2000 61,200 0.2
2001 62,300 1.8
2002 61,500 -1.3
2003 60,700 -1.3
2004 60,800 0.2
2005 61,300 0.8
2006 62,400 1.8
2007 62,100 -0.5
2008 61,300 -1.3
2009 58,700 -4.2
Data as of March 2010. For the latest data, please see the
Real Estate Center’s Monthly Review of the Texas Economy.
Sources: Texas Workforce Commission
and Real Estate Center at Texas A&M University

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2010 Texas Metro Market Overview Wichita Falls

Average Annual Unemployment Rate


Wichita Falls MSA
8.0
7.5

7.0

6.0
5.7 5.8
5.0
5.0
4.5 4.8
4.2
Percent

4.4 4.5
4.0 4.1

3.0

2.0

1.0

0.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Data as of March 2010. For the latest data, please see the Real Estate Center's Monthly Review of the Texas Economy.
Sources: Texas Workforce Commission and Real Estate Center at Texas A&M University

Average Annual Employment Growth by Industry


Wichita Falls MSA Texas
Employment Growth 2009 (Percent Change) -4.2 -2.8
Unemployment Rate 2009 (Percent Change) 7.5 7.6
Net Job Change in 2009 -2,600 -296,200
2009 Employment Growth by Sector (Percent Change)
Mining, Logging and Construction -9.5 -11.3
Manufacturing -20.5 -9.1
Trade, Transportation and Utilities -3.5 3.1
Information -7.7 -5.5
Financial Activities -3.4 -2.8
Professional and Business Services -11.4 -6.5
Educational and Health Services 1.1 3.7
Leisure and Hospitality 1.7 0.0
Government 0.8 2.3
Data as of March 2010. For the latest data, please see the Real Estate Center’s Monthly Review of the Texas Economy.
Sources: Texas Workforce Commission and Real Estate Center at Texas A&M University

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2010 Texas Metro Market Overview Wichita Falls

2008 Average Hourly Wage ($)


by MSA
Dallas-Fort Worth-Arlington 20.63
Houston-Sugar Land-Baytown 20.62
Austin-Round Rock-San Marcos 20.46
College Station-Bryan 19.53
Texas 18.90
Midland 18.64
Beaumont-Port Arthur 17.82
Odessa 17.55
San Antonio-New Braunfels 17.30
Amarillo 16.88
Waco 16.72
Tyler 16.68
Victoria 16.63
Longview 16.54
Corpus Christi 16.42
Lubbock 16.41
Killeen-Temple-Fort Hood 16.31
Texarkana 16 09
16.09
Sherman-Denison 16.06
Wichita Falls 15.77
El Paso 15.74
Abilene 15.55
San Angelo 15.50
Laredo 14.74
Brownsville-Harlingen 14.08
McAllen-Edinburg-Mission 13.85

10 12 14 16 18 20 22

Note: Data reflect most recent year surveyed


Source: Bureau of Labor Statistics

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2010 Texas Metro Market Overview Wichita Falls

Top Ten Employers


Wichita Falls
Employer Category Employees
Sheppard Air Force Base Military 12,272
Wichita Falls ISD Education 2,059
North Texas State Hospital Mental Health/Mental Rehabilitation 1,974
United Regional Healthcare System Health Care 1,778
City of Wichita Falls Government 1,477
Midwestern State University Education 1,284
Walmart Retail 1,175
James V Allred Unit State Maximum Security Prison 971
Cryovac Division-Sealed Air Corp. Flexible Packaging 732
Work Services Corp. Manufacturing 730
Source: Wichita Falls Board of Commerce and Industry, March 2010

Top Ten Private Employers


Wichita Falls
Employer Category Employees
United Regional Healthcare System Health Care 1,778
Walmart Retail 1,175
Cryovac Division-Sealed Air Corp. Flexible Packaging 732
Work Services Corp. Manufacturing 730
Howmet Corp. WF Casting Division Gas Turbines/Engine Components 704
AT&T/AT&T Wireless Customer Service 538
DynCorp. Int. Aircraft Maintenance 429
Blue Cross/Blue Shield Customer Service/Claims Processing 352
United Market Street Retail 340
Texhoma Christian Care Center Health Care 318
Source: Wichita Falls Board of Commerce and Industry, March 2010

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2010 Texas Metro Market Overview Wichita Falls

Economy
2008 Gross Retail Sales Per Capita
Brownsville-Harlingen
Texarkana
McAllen-Edinburg-Mission
Corpus Christi
El Paso
Wichita Falls
College Station-Bryan
Sherman-Denison
Beaumont-Port Arthur
Waco
San Antonio-New Braunfels
San Angelo
Victoria
Laredo
Abilene
Fort Worth-Arlington MD
Killeen-Temple-Fort Hood
Austin-Round Rock-San Marcos
Texas
e as
Houston-Sugar Land-Baytown
Longview
Tyler
Lubbock
Amarillo
Midland
Odessa
Dallas-Plano-Irving MD

5,000 7,000 9,000 11,000 13,000 15,000 17,000 19,000 21,000

Note: Data reflect most recent year surveyed; MD=subset of an MSA


Source: Texas Comptroller's Office

Gross Retail Sales


Wichita Falls MSA
Sales per
Year Total Sales Capita
1998 $2,698,350,311 $17,846
1999 1,456,774,648 9,624
2000 1,436,680,199 9,482
2001 1,516,513,182 10,157
2002 1,414,191,795 9,497
2003 1,436,383,520 9,670
2004 1,485,008,276 10,051
2005 1,605,962,814 10,979
2006 1,705,761,976 11,721
2007 1,771,081,070 11,955
2008 $1,879,899,906 $12,760
State Average 2008: $16,904
Source: Texas Comptroller’s Office

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2010 Texas Metro Market Overview Wichita Falls

Military

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2010 Texas Metro Market Overview Wichita Falls

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2010 Texas Metro Market Overview Wichita Falls

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2010 Texas Metro Market Overview Wichita Falls

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2010 Texas Metro Market Overview Wichita Falls

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2010 Texas Metro Market Overview Wichita Falls

Infrastructure
Wichita Falls Airline Boardings
Airport 2005 2006 2007 2008 2009
City of Wichita Falls Municipal (SPS)
Enplaned 49,522 46,752 46,751 47,990 44,673
Deplaned 42,370 41,735 42,962 42,055 37,861
Total 91,892 88,487 89,713 90,045 82,534
Source: City of Wichita Falls Municipal Airport

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2010 Texas Metro Market Overview Wichita Falls

Multifamily
Wichita Falls/North Texas Apartment Statistics 2009
Texas Metro
Wichita Falls Average
Average rent per square foot $0.67 $0.84
Average rent for units built since 2000 $0.64 $0.92
Average occupancy 93.3% 94.1%
Average occupancy for units built since 2000 98.2% 95.4%
Source: Apartment MarketData Research

5+ Multifamily Building Permits


Wichita Falls MSA
600

500

400
Units

300

200

100

0
2005 2006 2007 2008 2009

Note: 2009 data represents preliminary year-end number


Source: U.S. Census Bureau

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2010 Texas Metro Market Overview Wichita Falls

Housing
Home Price Appreciation
Wichita Falls MSA
The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential
properties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae.
14.0%

12.0%

10.0%
hange from Previous Year

8.0%

6.0%

4.0%

2.0%

0.0%
Ch

-2.0%

-4.0%

-6.0%
4Q-99

4Q-00

4Q-01

4Q-02

4Q-03

4Q-04

4Q-05

4Q-06

4Q-07

4Q-08

4Q-09
Wichita Falls Texas USA

Source: Federal Housing Finance Agency

National Home Price Appreciation


The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential
properties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae.
30.0%

20.0%
Change from Previous Year

10.0%

0.0%

-10.0%

-20.0%

-30.0%
4Q-99

4Q-00

4Q-01

4Q-02

4Q-03

4Q-04

4Q-05

4Q-06

4Q-07

4Q-08

4Q-09

California Florida Texas USA

Source: Federal Housing Finance Agency

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2010 Texas Metro Market Overview Wichita Falls

Housing Affordability Index


3Q 2009
Required Median
2009 Median- Income to Family HAI for First-Time
MLS Priced Home Qualify Income HAI* Homebuyers**
Wichita Falls $110,800 $22,997 $50,300 2.19 1.75
Texas $150,300 $31,195 $57,400 1.84 1.27
United States $196,600 $40,712 $64,000 1.57 1.04
*The HAI is the ratio of the median family income to the income required to buy the median-priced house using
standard mortgage financing at the current interest rate. Standard financing is a fixed-rate, 30-year loan covering
80 percent of the cost of the home. A HAI of 1.00 indicates that the median family income is exactly equal to the
required income to qualify for the standard loan to purchase the median-priced house.
**First-time homebuyer is assumed to purchase a home equal to the first quartile home price using a 90 percent home
loan at an interest rate 0.5 percent greater than the standard current rate.
Source: Real Estate Center at Texas A&M University

Price Distribution of MLS Homes Sold


Wichita Falls
14.0

12.0

10.0

8.0
Percent

6.0

4.0

2.0

0.0

2007 2008 2009

Source: Real Estate Center at Texas A&M University

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2010 Texas Metro Market Overview Wichita Falls

Price Distribution of MLS Homes Sold, Wichita Falls


(in percent)
Price Range 2003 2004 2005 2006 2007 2008 2009
$29,999 or less 8.6 8.4 5.7 5.3 7.2 6.8 6.7
30,000–39,999 5.7 5.5 4.0 4.1 4.1 5.5 3.5
40,000–49,999 7.7 6.4 5.5 5.5 4.3 5.1 3.3
50,000–59,999 7.8 8.7 6.1 6.0 5.7 5.0 5.4
60,000–69,999 9.9 9.2 8.7 8.3 8.2 6.9 6.3
70,000–79,999 9.5 9.1 7.9 9.2 7.7 7.4 8.6
80,000–89,999 8.5 8.4 9.2 7.9 8.6 8.8 8.0
90,000–99,999 8.1 6.6 6.4 6.9 5.6 6.1 6.9
100,000–119,999 10.3 10.5 13.2 11.1 12.7 10.9 12.2
120,000–139,999 8.5 9.5 10.4 11.2 10.1 10.5 12.6
140,000–159,999 4.7 5.4 6.3 7.0 8.1 6.8 7.3
160,000–179,999 2.8 4.1 5.9 5.7 5.5 6.4 6.0
180,000–199,999 2.5 2.4 2.9 3.3 3.6 3.4 3.9
200,000–249,999 3.0 3.1 4.6 4.8 4.6 5.7 4.9
250,000–299,999 1.0 1.4 1.4 1.8 2.2 2.2 2.0
300,000–399,999 1.0 1.0 1.4 1.6 1.2 2.0 1.3
400,000–499,999 0.2 0.1 0.2 0.4 0.2 0.3 0.4
$500,000 and more 0.1 0.4 0.2 0.0 0.3 0.3 0.6
Source: Real Estate Center at Texas A&M University

Property Tax Rates 2009


Tax Rate per $100
Taxing Entity Valuation
City of Wichita Falls $0.605
Wichita County 0.481
Wichita Falls ISD 1.200
Total* $2.286
*Only the typical taxing entities are included in the total. However,
there are numerous taxing entities that need to be taken into account
for an actual tax rate calculation.
Source: Wichita County Appraisal District

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2010 Texas Metro Market Overview Wichita Falls

Average Sales Price


Wichita Falls MLS
$140,000

$120,000 $113,600
$110,100
$115,300
$107,800 $109,900
$100,000 $97,500

$86,100 $87,000
$92,900

$80,000 $82,900

$60,000

$40,000

$20,000

$0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Source: Real Estate Center at Texas A&M University

Yearly Home Sales and Months Inventory


Wichita Falls MLS
2,400 8

2,100 7

1,800 6

Months Inventory
1,500 5
Sales

1,200 4

900 3

600 2
Months Inventory measures the current
absorption rate and how long it would take for
current supply to be depleted if no other listings
300 came on the market.
1

0 0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Sales Supply

Source: Real Estate Center at Texas A&M University

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2010 Texas Metro Market Overview Wichita Falls

Single-Family Home Sales Volume


Wichita Falls MLS
250

200

150
Units

100

50

0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2007 2008 2009

Source: Real Estate Center at Texas A&M University

Single-Family Building Permits and Average Value


Wichita Falls MSA
350 $185,000

$180,000
300

$175,000
250
$170,000

Average Value
200 $165,000
Units

150 $160,000

$155,000
100
$150,000

50
$145,000

0 $140,000
2005 2006 2007 2008 2009

Units Average Value

Note: 2009 data represents preliminary year-end number


Source: U.S. Census Bureau

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2010 Texas Metro Market Overview Wichita Falls

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2010 Texas Metro Market Overview Wichita Falls

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2010 Texas Metro Market Overview Wichita Falls

Mortgage Rates
30-Year Fixed
18.00 3.0

16.00
2.5
14.00

12.00 2.0

10.00

Points
Rate

1.5
8.00

6.00 1.0

4.00
0.5
2.00

0.00 0.0

Annual Average Rate Annual Average Points

Source: Federal Home Loan Mortgage Corporation

Mortgage Rates
15-Year Fixed
9.00 2.0

8.00 1.8

1.6
7.00

1.4
6.00
1.2
5.00
Points
Rate

1.0
4.00
0.8
3.00
06
0.6

2.00
0.4

1.00 0.2

0.00 0.0

Annual Average Rate Annual Average Points

Source: Federal Home Loan Mortgage Corporation

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2010 Texas Metro Market Overview Wichita Falls

Hotel
Hotel* Occupancy and Rental Rates
2008 2009
Wichita Falls MSA Texas Wichita Falls MSA Texas
Number of rooms (in thousands) 2.2 360.1 2.2 378.5
Average daily rate** $63.26 $89.75 $61.72 $83.49
Occupancy rate (in percent)*** 49.7 61.5 52.1 53.5
*Only properties exceeding $18,000 in the current quarter are included; those units below $18,000 only result in 1.5 percent of
the total state revenues and have been excluded from this database.
**Estimated with the aid of financial reports, appraisers, private SSI surveys, chain and AAA directories and another reliable
industry database.
***Occupancy: nights sold divided by nights available (x 100). Room-nights sold are calculated from estimated rate and actual
rooms revenues.
Source: Office of the Governor—Economic Development and Tourism, and Source Strategies Inc. of San Antonio

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Real Estate Center
This annual report is provided free by the Real Estate Center at Texas A&M University. We strive to
provide the most accurate and up-to-date data to paint a detailed picture of Texas’ Metropolitan Statistical
Areas. However, links contained in this report may become obsolete. The Real Estate Center
advises contacting the original source regarding broken links.

The Center also provides numerous publications, resources and data on building permits, employment,
population and home sales. Click on icons below to visit our website.

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