A familiar North Texas neighborhood with some of the most desirable homes in the area was recently identified as the most expensive neighborhood in Texas.
The Highland Park neighborhood in central Dallas County was recognized as the most expensive place to live in Texas, according to a new report from CashNetUSA, which tracked the most expensive neighborhood in every U.S. state using the latest real estate data from Zillow.
Real estate data for the Lone Star State shows that the average home price in the Highland Park suburb was $7.34 million in 2022. Over a 10-year period, the median price of a home in Highland Park has surged more than 100%, the Dallas Business Journal reported in October.
Meanwhile, the average price of the most expensive neighborhoods measured across all 50 U.S. states was only $5,249,542, more than $2 million below the average price seen in Highland Park.
“The most expensive neighborhoods from state to state range from paradise settlements for the mega-rich to unassuming southern suburbs and idyllic family communities,” wrote CashNetUSA in the report.
As Highland Park is home to some of the most expensive properties in Texas, it makes sense that the neighborhood is also home to some of the wealthiest people in the state.
The median household income in Highland Park was roughly $234,000 in 2021, according to the latest data from the U.S. Census Bureau.
In March, The Dallas Express reported on a comprehensive list detailing the wealthiest zip codes in North Texas. The list was compiled by the Dallas Business Journal using the U.S. Census Bureau’s American Community Survey for 2018 to 2022.
The findings show that Southlake and parts of Grapevine came in at No.1, with a median income of $240,694. Meanwhile, Tarrant County/Colleyville came in second place with a median income of $180,584, whereas the northern areas of Dallas County ranked number three with a median income of $169,547.