Professional Documents
Culture Documents
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
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.
~1~
2010 Texas Metro Market Overview Wichita Falls
2
POTTER CARSON
OLDHAM GRAY WHEELER
RANDALL ARMSTRONG
DEAF SMITH DONLEY COLLINGSWORTH
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
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
DIMMIT
MCMULLEN BEE REFUGIO
LA SALLE
LIVE OAK ARANSAS
12 7
SAN PATRICIO
JIM
WELLS
DUVAL NUECES
15 WILLACY
5
CAMERON
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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
~3~
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)
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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
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
~8~
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
~9~
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
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
~10~
2010 Texas Metro Market Overview Wichita Falls
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
~11~
2010 Texas Metro Market Overview Wichita Falls
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2010 Texas Metro Market Overview Wichita Falls
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
~13~
2010 Texas Metro Market Overview Wichita Falls
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
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2010 Texas Metro Market Overview Wichita Falls
10 12 14 16 18 20 22
~15~
2010 Texas Metro Market Overview Wichita Falls
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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
~17~
2010 Texas Metro Market Overview Wichita Falls
Military
~18~
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
~23~
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
500
400
Units
300
200
100
0
2005 2006 2007 2008 2009
~24~
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
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
~25~
2010 Texas Metro Market Overview Wichita Falls
12.0
10.0
8.0
Percent
6.0
4.0
2.0
0.0
~26~
2010 Texas Metro Market Overview Wichita Falls
~27~
2010 Texas Metro Market Overview Wichita Falls
$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
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
~28~
2010 Texas Metro Market Overview Wichita Falls
200
150
Units
100
50
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$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
~29~
2010 Texas Metro Market Overview Wichita Falls
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2010 Texas Metro Market Overview Wichita Falls
~31~
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
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
~32~
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
~33~
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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