Wichita Falls Texas’ most affordable housing market in second quarter

​​COLLEGE STATION – Wichita Falls’ housing market was the most affordable in the state last quarter, according to the latest Texas Housing Afford​ability Index (THAI).

The Wichita C​ounty metro had a housing affordability index (HAI) of 2.63 in second quarter 2017. 

For reference, an HAI ratio of 1.00 means that the median family income (MFI) is exactly sufficient to purchase the median-priced home. Anything higher means the median family income exceeds the required income to purchase a median-priced home. A higher HAI indicates relatively greater affordability.

"As the numbers suggest, Wichita Falls has the best ratio between local median family incomes and home prices," said Real Estate Center Chief Economist Dr. Jim Gaines. "Basically, home prices haven’t escalated there as they have in so many of the other MSAs, keeping the THAI higher there."

Texas had an overall HAI of 1.53. Latest statewide THAI ratios are online​.​

For more on Wichita Falls, read the Center’s June 2017 housing report​.