Base housing for O's is NICE! The area around Missile Rd (North of the off-base base housing area) is pretty nice and very convenient. Tanglewood, and the surrounding areas are nice. The area around the stadium (southwest Wichita Falls) is good. The neighborhood on the north and east of the university is nice, but relatively expensive. If you want to live in the country, there are some great places outside of Iowa Park and on the west side of Burkburnett.
Places to avoid: If you draw a triangle with 44, 82 (Kell), and Seymour Hwy, don't live within the triangle (except for the westernmost point). Anything east of 44 and south of Missile Rd all the way down to 287 would be very good to avoid, except the neighborhood right by Missile Rd. Avoid the neighborhoods around Holiday Rd and Old Jacksboro Hwy.