The story of this market
The typical home in ZIP 76377 sells for about $225,000, or $151 per square foot.
Prices are down 37.5% from a year ago, which gives buyers more room to negotiate. Homes take about 92 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $950 a month.
ZIP 76377 — Petrolia
The housing market in 76377 is characterized by low volume and limited inventory, reflecting its rural nature. Prices have seen significant volatility due to the small sample size of transactions, with current conditions favoring a slow, steady pace of activity.
This ZIP is best suited for those seeking a quiet, rural lifestyle who are comfortable with a commute to larger regional employment centers.
Median prices moved down 37.5% year over year.
Homes spend a median of 92 days on market with 1.8 months of supply — a balanced-paced market.
50% of listings have cut prices · homes sell at 98.5% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 11.2% — a stable, low-distress profile.
ZCTA 76377, Clay County TX
The area is subject to standard North Texas climate risks, including severe thunderstorms and potential wind damage.
Economic momentum is tied to the broader Wichita Falls regional economy, which is anchored by manufacturing, healthcare, and military presence.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Texas) — Senior (65+) and Disabled Homestead Exemption and School Tax Ceiling: Grants an additional mandatory $10,000 exemption from ISD appraised value (Taxable Value_ISD = Appraised Value - $100,000 - $10,000) and establishes an absolute statutory tax freeze (school tax ceiling): total ISD property taxes cannot exceed the dollar ceiling established in the… State (Texas) — General Residence Homestead Exemption and 10% Valuation Growth Cap: Imposes mandatory state-level valuation deductions and growth limitations on the qualifying homestead: (1) Mandates a $100,000 deduction from appraised value for independent school district (ISD) maintenance and operations/debt taxation: Taxable Value_ISD = Appraised Value - $100… State (Texas) — Ad Valorem Real Property Taxation and Assessment Ratio: Mandates ad valorem appraisal of all real property at 100% of fair market value as of January 1 each tax year (Assessment Ratio = 1.00).
Residents typically rely on personal vehicles for commutes, with travel times to the Wichita Falls employment core averaging 20-30 minutes.
Local recreation is limited to rural outdoor activities, with more extensive shopping, dining, and park amenities located in nearby Wichita Falls.
The rental market is characterized by low inventory and limited turnover, primarily serving local workers and long-term residents.
The economy is primarily supported by the regional Wichita Falls labor market, featuring sectors such as manufacturing, education, and government services.
Transportation is entirely dependent on private vehicle use via regional highway corridors.
No major large-scale developments are currently reported within the immediate ZIP code boundaries.
The Clay County Appraisal District manages property assessments for the area.
Parcels are subject to local school district and county-level taxation, with potential utility district assessments.
Property insurance premiums are influenced by regional exposure to severe weather events common in North Texas.
Texas operates as a non-judicial foreclosure state with relatively expedited timelines for lenders.
Texas law requires sellers to provide a written disclosure notice regarding the condition of the property to potential buyers.
Data retrieved from US Census Bureau ZCTA 76377 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Local community green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.