Rent, population, and median household income are important factors to consider for a 1031 exchange in Wichita Falls due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Wichita Falls, Texas is a part of the Wichita Falls, TX metropolitan area area, and contains 8 zip codes, including: 76309, 76306, 76305, 76301, 76308, and 76307.
Wichita Falls Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wichita Falls, TX metropolitan area area was $696, which is 7.24% lower than 2014 average rent. This represents a compounded annual growth rate of 1.41%. 2019 vacancy in Wichita Falls, TX was 4.60%.
The total population of the city of Wichita Falls, TX has grown 0.02% since 2010. As of 2018, the population was 45,476. The median household income of the Wichita Falls was $104,576, which is 24.57% lower than the national average.
- metropolitan area area Wichita Falls, TX
- avg rent $696
- rent growth 7.24%
- vacancy 4.60%
- median income $104,576
- population (2018) 45,476
- population growth 0.02%
- vs. nat'l avg 24.57%
- zip codes 76301 76302 76305 76306 76307 76308 76309 76310