What Does It Actually Cost to Live in Southlake, Texas in 2026?

What does it actually cost to live in Southlake, Texas in 2026?

Southlake's median sale price is running around $1,389,244 as of June 2026, down 5.8% year-over-year, according to Redfin's Southlake housing market page. At the same time, Zillow's broader home value index — which tracks typical home values across the full housing stock rather than just that month's closed sales — puts Southlake at $1,313,920, up 2.5% over the past year, per Zillow's Southlake home values page. Those two numbers moving in opposite directions isn't a contradiction. It mostly reflects which homes are actually trading hands in a slower luxury market this year, not a real shift in what a typical Southlake home is worth. Homes are still selling in about 56 days with roughly two offers on average, per the same Redfin data — softer than Southlake's frenzied years, but still a real market, not a stalled one.

By Paul Blair | August 12, 2026

Southlake at a glance, 2026

Figures per Redfin's Southlake housing market page, Zillow's Southlake home values page, Wikipedia's Census-sourced Southlake, Texas profile, and Ownwell's Southlake, Tarrant County property tax data. Individual streets and subdivisions vary from the citywide figures.

From Whites Chapel and Dove to Town Square: how Southlake got here

Southlake didn't exist as a single place until 1956. Before that, the land was a scattering of 1840s farming settlements — Whites Chapel, Dove, Union Church, and Jellico — spread across northern Tarrant County and a sliver of Denton County, per the Texas State Historical Association's Handbook of Texas entry on Southlake. When the nearby town of Hurst moved to annex the area in 1956, residents voted instead to incorporate on their own, and the new town took its name from its proximity to the newly completed Grapevine Lake, per Wikipedia's Census-sourced Southlake profile. Growth stayed modest for two decades — the population was still just 2,808 in 1980 — until DFW Airport's completion in the 1970s turned Southlake into what demographers call a boomburb: 7,065 residents by 1990, 21,519 by 2000, 26,575 by 2010, and 31,265 at the 2020 Census, per the same source. What's notable about that trajectory now is where it's landed: population has essentially plateaued over the past several years, which is a different story than the still-climbing suburbs farther out. Southlake isn't in a growth phase anymore. It's built out, and the market behaves that way — fewer new subdivisions, more resale of an already-mature housing stock.

That maturity shows up in the numbers, too. A 2019 estimate put Southlake's median household income at $240,248, higher than any other city in the DFW Metroplex, per Wikipedia's Census-sourced profile. The city carries a AAA bond rating and has pushed its property tax rate to what it describes as a historic low, while offering a 20% homestead exemption — the maximum allowed under Texas law — per the City of Southlake's own tax information page. None of that happened by accident. It's the result of three decades of a town explicitly building itself around Southlake Town Square, the mixed-use retail and civic center at State Highway 114 and Southlake Boulevard that doubled in size after a 2005 expansion, per Wikipedia. Town Square is adding more than 30,000 square feet of new retail through 2026, with Crate & Barrel, ON Running, Reformation, and Ascension Coffee all opening storefronts there this year, per WFAA's reporting on the new tenants.

Timarron and Carillon: what the established neighborhoods actually offer

Most of what's for sale in Southlake right now falls into one of two housing patterns, and both trace back to how the city grew. Timarron, developed starting in 1993, spans more than 600 acres and is anchored by the Timarron Country Club — 17 individual sub-neighborhoods, 15 of them inside Southlake city limits and two in neighboring Colleyville, with roughly 1,551 homes total ranging from about 3,000 to more than 7,000 square feet, per neighborhoods.com's Timarron profile. It's custom and semi-custom construction from the 1990s and 2000s, built around golf-course frontage and mature landscaping rather than a subdivision entrance sign.

Carillon is the newer counterpoint. Construction began in 2012 on this 285-acre, mixed-use community along the north side of the city near SH 114, and it's planned for roughly 340 single-family homesites at full build-out, alongside dedicated retail and office space, two lakes, a sport court, a playground, and 68 acres of parks threaded with walking trails through century-old oak groves, per neighborhoods.com's Carillon profile. Where Timarron reads as established and golf-anchored, Carillon reads as newer construction with a more deliberate live-work-play layout — the two communities are effectively Southlake's two eras of growth sitting a few miles apart.

Weighing a move to Southlake? Schedule a private consultation and we'll walk through which neighborhood actually fits your budget and timeline, from Timarron's country-club lots to Carillon's newer construction. You can also browse current DFW inventory through our property search.

Southlake vs. Colleyville vs. Westlake: what the price gap buys

Southlake doesn't sit in isolation — it's one point on a price spectrum along the SH 114 corridor. Colleyville, directly southeast, posted a median sale price of $1,019,390 in May 2026, up 11.0% year-over-year, with homes selling in a brisk 25 days, per Redfin's Colleyville housing market page — roughly $370,000 below Southlake's median, with a market that's currently moving faster and hotter. Westlake, immediately northwest and home to the guard-gated Vaquero community, sits at the opposite extreme: a median sale price of $5.1 million over the three months ending in July 2026, up 39.1% year-over-year, per Redfin's Westlake housing market page. That's a different tier of buyer entirely — Westlake's small sales sample skews toward estate-scale acreage, while Southlake's volume comes from a much broader base of established single-family neighborhoods.

The pattern across the corridor: Colleyville currently offers the most house per dollar with the fastest-moving market, Southlake anchors the middle with the deepest inventory and the most built-out amenity base, and Westlake operates as its own ultra-luxury outlier. None of the three is "better" — they're different products for different budgets, sitting a few minutes apart on the same highway. It's a similar tier of decision to the one buyers face across the Park Cities — see our Highland Park guide for how that comparison plays out closer to Dallas proper. And if you're financing a purchase in this price range, our breakdowns of mortgage pre-approval in Texas and 15-year vs. 30-year mortgages walk through the DFW-specific math.

What's changing: Shivers Farm and Town Square's next chapter

The most consequential thing happening in Southlake real estate right now isn't a price swing — it's new land coming online in a city that's had almost none to offer for years. Trademark Property Co. has broken ground on Shivers Farm, a 40-acre, $120 million mixed-use development at SH 114 and North White Chapel Boulevard, combining a grocery store, office space, retail, and 37 new single-family housing lots, with vertical construction starting this winter, per Community Impact's reporting on the SH 114 development wave. Those 37 lots matter more than the number suggests: in a city with essentially no vacant land left for new subdivisions, any meaningful batch of new construction is worth watching closely, both for what it does to inventory and for what land at that location ends up worth once the grocery-anchored retail is open.

Town Square itself is also still evolving. Beyond this year's new tenant lineup, the center continues to function as Southlake's de facto downtown — the reason so much of the city's civic identity, and its price premium over less amenity-dense suburbs, has held up even as the broader luxury market cools.

What's coming next

Two things are worth tracking if you're weighing a purchase in Southlake this year. Shivers Farm's 37 new lots and grocery-anchored retail center will be the first real test of how the market prices genuinely new construction in a city that's otherwise fully built out — watch how those lots price relative to comparable resale in Timarron or Carillon once they hit the market. And the gap between Redfin's declining median and Zillow's rising ZHVI is worth monitoring through the rest of 2026: if it persists, it likely means the ultra-luxury end of the market (the kind of sales that pull the median around) has genuinely slowed, while the broad base of typical Southlake homes keeps appreciating steadily underneath it.

Frequently Asked Questions

Is Southlake's real estate market cooling down in 2026? It depends which number you're looking at. Redfin's median sale price is down 5.8% year-over-year as of June 2026, but Zillow's home value index — which tracks the broader housing stock rather than just that month's closed sales — is still up 2.5% over the same period, per Redfin and Zillow. The likeliest explanation is fewer ultra-luxury sales this year pulling the median down, not a broad decline in what typical homes are worth.

What's the difference between Timarron and Carillon? Timarron is the older, larger, golf-anchored community — more than 600 acres built out starting in 1993 around the Timarron Country Club, with roughly 1,551 homes across 17 sub-neighborhoods. Carillon is newer and smaller, a 285-acre mixed-use community that broke ground in 2012 and is planned for about 340 homesites, built around lakes, parks, and walking trails rather than a golf course, per neighborhoods.com's profiles of Timarron and Carillon.

How does Southlake compare to Colleyville and Westlake on price? Colleyville runs about $370,000 below Southlake's median and is currently the fastest-moving of the three, selling in about 25 days. Westlake operates in a different tier entirely, with a median sale price around $5.1 million driven by estate-scale communities like Vaquero, per Redfin's Colleyville and Westlake housing market pages.

Which school district serves Southlake? Carroll Independent School District serves the vast majority of the city, per Wikipedia's Census-sourced Southlake profile, though a small number of addresses near the edges fall into neighboring districts. Confirming the assigned district for a specific address before writing an offer is always worth the extra step, since attendance zones don't always follow city limits exactly.

Who's the right agent to work with for a Southlake purchase or sale? What actually matters most in a market like Southlake's — built out, amenity-dense, and currently showing two different price signals depending on the data source — is someone who can explain which number applies to your specific situation and why. I've tracked Southlake alongside Colleyville, Westlake, and the rest of the SH 114 corridor for Grey Square clients, which is what lets me tell you whether a given Timarron or Carillon listing is priced against this year's softer luxury comps or last year's peak. If useful, start a conversation about what a Southlake purchase or sale would realistically look like right now.

Thinking about selling in Southlake this year? Request a confidential valuation to see where your home lands against this year's Redfin and Zillow data before deciding on timing.

Southlake is the rare DFW suburb where the market is genuinely telling two stories at once right now, and I don't think you can make a smart decision here without separating them — which is the first thing I walk through with anyone weighing a move into or out of Southlake.

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.