7 Cheap Apartments for rent in Wichita Falls, TX

Last updated September 23 at 10:55AM
1679 SPEEDWAY AVENUE
Wichita Falls
Wichita Falls, TX
Updated August 15 at 4:44AM
Studio
$575
2802 CUMBERLAND AVENUE
Wichita Falls
Wichita Falls, TX
Updated September 22 at 2:29AM
2 Bedrooms
$550
1611 Lucas Ave
Wichita Falls
Wichita Falls, TX
Updated July 13 at 10:30AM
2 Bedrooms
$500
1501 KEMP BOULEVARD
Wichita Falls
Wichita Falls, TX
Updated September 19 at 2:15AM
1 Bedroom
$395
2600 BUCHANAN STREET
Wichita Falls
Wichita Falls, TX
Updated September 4 at 2:25AM
1 Bedroom
$550
Results within 5 miles of Wichita Falls, TX
1300 Tyler Lane
Burkburnett
Burkburnett, TX
Updated September 23 at 10:55AM
3 Bedrooms
$545
Results within 20 miles of Wichita Falls, TX
403 Walnut
Petrolia
Petrolia, TX
Updated September 16 at 10:51AM
3 Bedrooms
$475
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Rent Report
Wichita Falls

September 2017 Wichita Falls Rent Report

Welcome to the September 2017 Wichita Falls Rent Report. Wichita Falls rents declined over the past month. In this report, we'll evaluate trends in the Wichita Falls rental market, including comparisons to cities throughout the state and nation.

Wichita Falls rents declined over the past month

Wichita Falls rents have declined 1.2% over the past month, but have increased 0.4% in comparison to the same time last year. Currently, median rents in Wichita Falls stand at $590 for a one-bedroom apartment and $740 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in June. Wichita Falls' year-over-year rent growth lags the state average of 1.5%, as well as the national average of 3.0%.

Rents rising across cities in Texas

Throughout the past year, rent increases have been occurring not just in the city of Wichita Falls, but across the entire state. Of the largest 10 cities that we have data for in Texas, 8 of them have seen prices rise. The state as a whole logged rent growth of 1.5% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Plano is the most expensive of all Texas' major cities, with a median two-bedroom rent of $1,420; of the 10 largest cities in Texas that we have data for, Houston and Corpus Christi, where two-bedrooms go for $990 and $1,030, are the only two major cities in the state to see rents fall year-over-year (-2.4% and -0.9%).
  • Arlington, Fort Worth, and San Antonio have all experienced year-over-year growth above the state average (9.0%, 5.6%, and 2.8%, respectively).

Wichita Falls rents more affordable than many large cities nationwide

Rent growth in Wichita Falls has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Wichita Falls is still more affordable than most large cities across the country.

  • Wichita Falls' median two-bedroom rent of $740 is below the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 0.4% increase in Wichita Falls.
  • While rents in Wichita Falls remained moderately stable this year, similar cities saw increases, including Seattle (+5.4%), Phoenix (+4.9%), and Denver (+3.0%); note that median 2BR rents in these cities go for $1,710, $1,020, and $1,350 respectively.
  • Renters will find more reasonable prices in Wichita Falls than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than four times the price in Wichita Falls.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.