What Does It Actually Cost to Live in Highland Park, Texas in 2026?
Highland Park averages $2.8M per home with a $4.89M median list price in 2026. Here's what it actually costs to live in one of Dallas's priciest towns.
What does it cost to live in Highland Park, Texas in 2026?
Highland Park homes carry an average value of about $2.8 million, and active listings in July 2026 show a median asking price near $4.89 million, with price per square foot running close to $1,000 (Zillow, HAR.com). Property tax bills combine town, county, and school district rates on assessed values that are among the highest in Dallas County, even though the underlying tax rate itself is not unusually high compared to nearby cities. Add above-average insurance and upkeep tied to older construction and mature landscaping, and Highland Park remains one of the highest-cost places to own a home anywhere in North Texas.
By Paul Blair | July 18, 2026
Highland Park is a town, not a neighborhood, technically speaking. Along with University Park next door, it forms the Park Cities, two independent municipalities inside the boundaries of Dallas with their own police departments, parks systems, and code enforcement. That distinction shows up in daily life more than most buyers expect: consistent architectural review, manicured medians, and a level of civic upkeep that a city department covering a much larger area doesn't provide at the same scale.
Highland Park at a glance, July 2026
| Metric | Figure |
|---|---|
| Average home value | ~$2.8 million |
| Median list price (active) | ~$4.89 million |
| Median sale price (trailing 3 months) | ~$2.3 million |
| Price per square foot | ~$1,000 |
| Average days on market | 38 (down from 54 a year ago) |
| Homes sold, June 2026 | 50 (up from 43 a year ago) |
Figures compiled from Zillow, HAR.com, and Redfin market data for Highland Park, TX.
The streets and the architecture
The housing stock reflects nearly a century of continuous investment. Beverly Drive is lined with Mediterranean and Spanish Colonial homes designed in the 1920s and 1930s by architects like Fooshee and Cheek, many since renovated by contemporary architects who kept the original massing and added the systems a home needs today. Armstrong Parkway carries some of the town's largest lots and its most architecturally significant estates, including work by Anton Korn, on a tree-lined boulevard that people compare to Swiss Avenue in East Dallas. Move a few blocks west of Preston Road and lots get smaller and the streets get denser, closer to the walkable, front-porch feel that draws people to the town in the first place.
Map reference: Highland Park sits just north of Uptown Dallas and east of the Dallas North Tollway, bounded roughly by Mockingbird Lane to the north, Central Expressway to the east, and Turtle Creek to the south. Beverly Drive and Armstrong Parkway run east-west through the town's residential core, with Preston Road forming the commercial and pedestrian spine that connects to Highland Park Village.
At the center of it all is Highland Park Village, one of the country's earliest shopping centers, built in 1931 and still owned by the family that bought it in 2009. Miu Miu and Material Good opened their first Texas locations there this year, and the property's owners filed plans in April for an $11 million renovation of two of its buildings, per The Real Deal. For residents, the Village functions less like a mall and more like a town square. A five or ten minute walk covers most daily errands, which isn't true of most of Preston Hollow or the northern suburbs.
Highland Park compared to University Park and Preston Hollow
This is the comparison every Highland Park buyer eventually makes, so it's worth laying out plainly.
Park Cities and Preston Hollow, side by side
| Highland Park | University Park | Preston Hollow | |
|---|---|---|---|
| Governance | Independent municipality | Independent municipality | Part of the City of Dallas |
| Typical lot size | ~1/8 to 1/3 acre | ~1/8 to 1/3 acre | 1/2 acre and up, some multi-acre |
| Average home value | ~$2.8M | ~$2.0M | ~$1.7M (varies widely by pocket) |
| School district | Highland Park ISD | Highland Park ISD | Mostly Dallas ISD, small HPISD pocket |
| Character | Walkable, tighter streetscape | Walkable, tighter streetscape | More private, larger setbacks |
Highland Park and University Park share a school district and a similar walkable layout, and home prices vary block by block within each town rather than splitting cleanly along the town line. Preston Hollow sits inside the city of Dallas rather than as its own municipality, and lot sizes run larger, frequently a half acre or more, compared to the smaller lots typical across much of Highland Park. That extra land buys privacy and space, and it comes with a wider range of home prices, since Preston Hollow spans a bigger geographic footprint. Highland Park and University Park trade some of that acreage for a tighter street grid and a shorter walk to the Village, SMU, and Uptown.
Neither is a better neighborhood than the other. They solve different problems for different buyers, and the choice usually comes down to how much you weigh walkability and civic consistency against space and privacy. Buyers weighing that decision alongside financing at this price point may find it useful to read Grey Square's breakdown of jumbo loans for DFW luxury buyers, since Park Cities and Preston Hollow purchases both typically land well above conventional loan limits.
What the market is actually doing right now
Redfin puts the median sale price over the trailing three months at $2.3 million, down from the same period a year ago, while active listings are asking closer to $4.89 million, a gap that says more about which homes are selling than about where prices are heading, per Redfin's Highland Park market data. Homes are also moving faster than they were last year: an average of 38 days on market versus 54 a year ago, with 50 homes sold in June 2026 compared to 43 the year before. Whatever softening shows up in the trailing sale numbers, buyer activity at the top of the market hasn't slowed nearly as much as broader DFW headlines might suggest.
Property taxes deserve their own line item here. Highland Park's town tax rate itself is not out of line with its neighbors, but assessed values are, and a resident's total bill layers town, county, and school district rates on a valuation that reflects those seven-figure sale prices. The Dallas Central Appraisal District handles assessments and protests for Highland Park property owners, and it's worth checking that assessed value against comparable sales every year, regardless of how long you've owned the home. Grey Square has also covered how to protest your property taxes in Dallas in more detail, and the same process applies to Highland Park and University Park parcels through DCAD.
If you already own in Highland Park and you're weighing whether now is the right time to sell, it's worth understanding where your specific property lines up against this year's activity before you decide. Request a confidential valuation on your Highland Park home and see what a current market analysis shows, rather than relying on an automated estimate that won't reflect your street, your lot, or your renovation history.
Who ends up buying here
Streets like Beverly, Armstrong, Lakeside, and Preston Road each carry a different character, but the buyers who end up in Highland Park tend to share a few practical priorities: they want walkable access to the Village, they're comfortable with the premium that comes with an independent municipality's services and consistency, and they're planning to stay long enough to make that premium worth it. It's not a starter-home market, and it isn't trying to be.
For buyers coming from outside the Park Cities, the adjustment isn't just financial. It's also about pace. Inventory here moves in a narrower band than the rest of Dallas, and well-priced homes on Beverly Drive or inside the loop still draw competition even in a broader market that's cooled elsewhere. Once you close, the Dallas Central Appraisal District will reassess based on your purchase price, and it's common for new owners to face a first-year tax jump that catches them off guard. Filing a homestead exemption early and understanding the protest process makes a real difference on that first bill, and Grey Square's guide to the Texas homestead exemption in Dallas walks through the filing steps and the 2026 exemption amount.
If you're considering a move into Highland Park, schedule a private consultation and we'll walk through inventory street by street, from Beverly Drive to the sections west of Preston Road, so you know what your budget actually buys before you start touring. You can also browse current inventory on Grey Square's Highland Park community page before we talk.
I've walked buyers through Highland Park deals on both sides of Preston Road, and the town rewards patience. The right house on the right street is worth waiting for over settling on the first one that hits your price range.
Frequently Asked Questions
What is the average home price in Highland Park, Texas?
Highland Park's average home value runs close to $2.8 million as of mid-2026, while active listings carry a median asking price near $4.89 million and the median sale price over the trailing three months sits around $2.3 million, per Zillow and Redfin data. The gap between asking and trailing sale prices reflects the specific mix of homes moving through the market at any given time rather than a single typical price point.
What's the difference between Highland Park and University Park?
Highland Park and University Park are both independent municipalities that make up the Park Cities, sharing the same school district and a similar walkable layout. Home prices and lot sizes vary block by block in both towns rather than splitting cleanly along the town line, so the more useful comparison is usually street by street rather than town by town.
Is Highland Park part of Dallas ISD?
No. Highland Park and University Park are served by Highland Park Independent School District, which is separate from Dallas ISD. Preston Hollow, by contrast, is split, with most of it zoned to Dallas ISD and a small pocket falling inside Highland Park ISD boundaries.
How walkable is Highland Park?
Highland Park Village sits at the center of town and functions as a walkable commercial hub for much of the surrounding area, with many blocks close enough for a daily walk or bike ride to shops, restaurants, and the park system. Walkability varies by section, and homes closer to the Village and Preston Road tend to be more walkable than those on the town's outer edges.
How much are property taxes in Highland Park?
Highland Park's town tax rate is not unusually high compared to its neighbors, but because assessed home values are among the highest in Dallas County, total tax bills are still substantial. The Dallas Central Appraisal District reassesses property values annually, and owners can review or protest their valuation each year through DCAD's process.
About Paul Blair
Paul Blair is the founder and broker of Grey Square, a virtual real estate brokerage representing buyers and sellers across Dallas and Los Angeles. With 22 years in the business and more than $200 million in closed transactions, Paul works the full range of the market, from luxury homes in the Park Cities and Preston Hollow to estates in the Hollywood Hills and across the Westside. Connect with Paul and the Grey Square team at greysq.com. TX TREC #9011505 · CA DRE #01792671.