Average Home Costs in Highland Park, TX: 2026 Buyer's Guide
Highland Park remains one of the most expensive and competitive real estate markets in the Dallas-Fort Worth metroplex. As of mid-2026, buyers looking at this enclave face a median sale price of approximately $2,720,000.
Finding an available property requires moving quickly, as homes spend just about 15 days on the market before going under contract. With only 44 active listings at the end of May, buyers should expect tight inventory and firm pricing.
What Buyers Pay for a House in Highland Park Right Now
The median sale price sits at $2,720,000, but average home values often push closer to $2,980,000 depending on the street and lot size. Buyers can expect to pay around $780 to $815 per square foot for most properties.
Despite the high price point, the market moves fast. Nearly a third of recent sales closed above the asking price, and the average sale-to-list ratio remains strong at 98.7 percent.
Inventory is tight, with about 4.9 months of supply currently available. When a well-priced home hits the market, buyers should be prepared to submit competitive offers within the first two weeks.
Home Styles and Lot Sizes in the Neighborhood
Available homes in Highland Park feature a mix of early 20th-century architecture and modern custom builds. Many buyers look for the historic estates that define the area's older streets, featuring Mediterranean, Tudor, and Colonial designs.
Over the past decade, newer construction has replaced some original structures, introducing large-scale custom homes with modern floor plans. These newer properties often command higher prices per square foot due to their updated systems and finishes.
Lot sizes vary widely, and space comes at a premium. Buyers purchasing a property as a teardown or a major renovation project should budget for substantial lot premiums, especially on corner parcels or lots backing up to local parks.
Factoring in Property Taxes and Local Assessments
Monthly carrying costs in Highland Park go beyond the mortgage payment, with property taxes making up a large portion of the budget. The town itself levies a property tax rate of roughly $0.199 per $100 of assessed valuation.
When you combine the town rate with Dallas County taxes, the school district, and the hospital district, the aggregate tax rate sits at approximately 1.75 percent. For a median-priced home at $2,720,000, that translates to an annual tax bill of around $47,600.
Texas does offer homestead exemptions for primary residences, which can slightly lower the taxable value of the home. Buyers should file for this exemption in the first year of ownership to ensure they receive the maximum allowable tax relief.
Public Schools Serving the Town
Most residential addresses within the town limits are zoned for the Highland Park Independent School District (HPISD). This district serves students in Highland Park, neighboring University Park, and small sections of Dallas.
Students typically progress through one of the district's elementary schools before moving on to Highland Park Middle School. The final stop for secondary education is Highland Park High School, located just north of the town border.
School assignment boundaries are strictly enforced based on the student's primary residence. Buyers focused on a specific elementary school zone should verify the address with the HPISD administration before closing on a property.
Commute Times and Daily Conveniences
Highland Park sits about four miles north of Downtown Dallas, making it an easy commute for professionals working in the city center. Drivers taking the Dallas North Tollway or US-75 can typically reach downtown in 15 to 25 minutes.
Frequent travelers also benefit from the town's proximity to major transit hubs. Dallas Love Field Airport is just a 10-minute drive away, providing quick access to domestic flights.
Daily shopping and dining are concentrated around Highland Park Village, an upscale retail center known for its luxury boutiques and restaurants. Residents also have immediate access to Lakeside Park, which spans 14 acres along Turtle Creek.
Frequently Asked Questions
What is the average cost of a home in Highland Park, TX?
As of mid-2026, the median sale price for a home in Highland Park is approximately $2,720,000. Average home values trend slightly higher, often approaching $2,980,000 due to the presence of ultra-luxury estates.
How much do I need to make to afford a home in Highland Park, TX?
Purchasing a $2.72 million median-priced home with a 20 percent down payment requires a substantial monthly income to cover the mortgage, insurance, and $47,600 annual property tax bill. Most lenders recommend a household income exceeding $600,000 to comfortably manage these carrying costs.
Is Highland Park expensive to live in?
Yes, the cost of living here ranks among the highest in Texas. Beyond the multimillion-dollar real estate prices, residents pay a premium for local services, property taxes, and nearby luxury retail at Highland Park Village.
How do home prices in Highland Park compare to neighboring University Park?
Both towns command premium pricing, but Highland Park generally maintains a higher median sale price and price per square foot. University Park offers a slightly larger inventory of available homes, which can sometimes provide buyers with more options under the $2.5 million mark.
What are the hidden costs or restrictions when renovating older architectural style homes in Highland Park?
The town enforces specific zoning ordinances and building codes that dictate lot coverage, setbacks, and sometimes exterior aesthetics. Buyers renovating historic properties should anticipate higher costs for matching original materials and securing the necessary municipal permits.
Does buying a house in Highland Park automatically zone my family for HPISD?
Most homes within the town limits fall within the Highland Park Independent School District boundaries. However, a few properties on the outer edges may be zoned for the Dallas Independent School District, so buyers should always verify the exact address with HPISD.
