Wichita Falls, TX- Texas Affordability Rankings are out and Wichita Falls ranks as one of the top five cheapest places to live in the state. The city is up there with El Paso, Round Rock, Pasadena, and Killeen.
Newschannel 6 reached out to a new homeowner and real estate expert about this ranking and what it means for the Wichita Falls housing market.
What's that saying? "Everything's bigger in Texas." Well, not the cost of living. According to Fixr.com 2014 Texas Affordability Rankings Wichita Falls is one of the least expensive places to live in the state of Texas.
"Texas in general, you get a big bang for your buck," said Clint Packer, a new homeowner in the Canyon Trails neighborhood. He, his wife and three kids just packed up their home in the Metroplex and now are in the process of moving into their new home.
"It's much cheaper than the Dallas area," said Packer.
According to the report Wichita Falls has a very affordable cost of living for young families, minimum-wage workers and single freelancers. The study used housing, food, transportation and other factors to determine rankings.
"It's an affordable market," said Michael Detrick, Broker & Owner of Nortex Realty said this good news for those living here and for people who may be considering moving to the area. "That means your dollar goes further."
In 2013 the average sale price of a home in Wichita Falls was $120,000 and today its $124,000.
"Most of my clients that come into the Wichita Falls marketplace from the outside perceive this to be a valuable proposition," said Packer.
"Wichita Falls. Yeah, I definitely think you can get a good bang for your buck and make a good living," said Packer.
In the first eleven months of 2013 versus 2014, the greater Wichita Falls area sold exactly 49 less homes. Real estate experts say they did not expect to see a great year, but considering the drought, the market fared out well.