Dallas-Fort Worth is known for its expensive properties, but certain areas within the metroplex have homes with a much higher price tag than others.
The cost of owning a single-family home in DFW can differ wildly depending on the location, size, age, and condition of the property. However, irrespective of whether the property is a new build or an existing home, stiff competition among buyers is driving up prices on an already limited supply.
Overall, the top five most expensive areas to buy a home in DFW include the Highland Park neighborhood at No.1, Westover Hills at No.2, University Park at No.3, Westlake at No.4, and Bartonville at No.5, according to a list of cities compiled by Stacker using data from Zillow.
The typical value of a home in Highland Park was nearly $2,500,000 in August 2023, a roughly 6% spike over the last 12 months and a more than 65% increase over the past five years.
The next-highest priced homes in DFW were found in Westover Hills, where the typical home value was more than $400,000 cheaper than homes found in Highland Park. Overall, homes in Westover Hills rose a modest 1.3% over the last 12 months but by about 60% over the last five years.
University Park — one of the wealthiest small towns in Texas, as previously reported by The Dallas Express — came in as the third most expensive home market in the metro area.
According to Zillow, the typical home value in University Park was about $1.7 million, a roughly 4% decrease compared to August 2022 but a 68% increase since 2018.
When you think of the richest locations in the U.S., the glitz and glamour of big cities might come to mind. But prosperity and affluence aren’t only thriving there.
As GOBankingRates said in a recent report covered by The Dallas Express, “Instead, pockets of wealth can be found in the nation’s quieter communities and small towns. And for some, living in a small town can be the best financial decision ever.”
A list of the top 10 most expensive neighborhoods in the DFW area includes:
#1. Highland Park
– Typical home value: $2,480,921
– One-year price change: +5.9%
– Five-year price change: +65.3%
#2. Westover Hills
– Typical home value: $2,043,050
– One-year price change: +1.3%
– Five-year price change: +59.2%
#3. University Park
– Typical home value: $1,699,448
– One-year price change: -4.1%
– Five-year price change: +68.1%
#4. Westlake
– Typical home value: $1,699,448
– One-year price change: -4.1%
– Five-year price change: +68.1%
#5. Bartonville
– Typical home value: $1,276,685
– One-year price change: -3.9%
– Five-year price change: +71.3%
#6. Southlake
– Typical home value: $1,052,559
– One-year price change: -3.9%
– Five-year price change: +66.9%
#7. Lucas
– Typical home value: $1,034,322
– One-year price change: -2.4%
– Five-year price change: +66.0%
#8. Parker
– Typical home value: $881,711
– One-year price change: -2.2%
– Five-year price change: +60.2%
#9. Copper Canyon
– Typical home value: $851,064
– One-year price change: -1.1%
– Five-year price change: +57.1%
#10. Colleyville
– Typical home value: $790,820
– One-year price change: +0.5%
– Five-year price change: +61.4%
