Highland Park and University Park sit side-by-side just north of downtown Dallas, forming an enclave collectively known as the Park Cities. Both municipalities operate independently of the city of Dallas, which means that living in Highland Park or University Park involves distinct local governments and housing markets that don't behave like the broader Dallas metro.
Buyers looking in this area tend to compare commute times, architectural styles, and median home prices. Both sides of the municipal boundary have multi-million dollar real estate and early-20th-century home designs - but the specific inventory and proximity to local amenities shift depending on exactly where you land.
Housing Market and Home Prices
The median home price in Highland Park sits at approximately $2.72 million as of mid-2026. Homes here move fast - a median of just 15 days on the market - so this isn't a place where you'll have time to sleep on a decision.
University Park runs in the same ultra-luxury tier, though median prices often come in slightly below Highland Park. Recent market reports put University Park's median sale price between $2.5 million and $3.17 million, depending on the specific month and property type. That range is wider than you might expect, and it reflects real variation in what's actually trading.
Real Estate Trends in Highland Park
Highland Park currently carries about 4.9 months of housing supply, with 44 active listings in recent months. Roughly 33% of homes here sell above asking price, so while this isn't a bidding-war-on-every-listing market, you'll want to come in prepared.
The final sale-to-list price ratio averages 98.7%. Sellers who price correctly tend to see offers close to list within the first few weeks - which tells you that overpriced listings do sit, and well-priced ones don't.
Real Estate Trends in University Park
University Park posted a 4.5% year-over-year increase in median sale prices heading into mid-2026. The inventory mixes historic properties with newer builds, and that combination has held the area's valuation base steady.
Average home values here hover around the $3 million mark. Demand is consistent enough that new listings don't linger - if you're targeting University Park, you need to be monitoring inventory in real time.
Property Types and Architectural Styles
Early-20th-century revival styles dominate the housing stock in both municipalities, and that's not an accident - these neighborhoods were largely built out during a period when architectural character was taken seriously.
Highland Park's identity centers on Colonial Revival homes, which set the tone for the town's streetscapes. Touring Highland Park, you'll also encounter Tudor Revival, Spanish Revival, French Eclectic, and Neoclassical designs, with a smaller slice of Mid-Century Modern and contemporary custom builds mixed in.
University Park carries a similar traditional foundation, though Georgian architecture stands out as the most common design there. That reflects the Ivy League-inspired campus aesthetic of nearby Southern Methodist University (SMU). Alongside the Georgian homes, you'll find Spanish Colonial and Mediterranean Revival designs, and newer construction tends to layer in transitional and contemporary elements while sitting alongside older Tudor Revival properties.
Location, Commute, and Accessibility
Highland Park sits about 4 miles north of downtown Dallas, bordered by the Dallas North Tollway and U.S. Route 75 (North Central Expressway). Under normal traffic conditions, you're looking at roughly 5 to 10 minutes to downtown.
University Park is located just north of Highland Park, which adds a bit of time - expect about 15 to 20 minutes to downtown Dallas on a typical day.
The Dallas North Tollway briefly passes through University Park near the Mockingbird Lane interchange, giving residents quick access to Uptown, Preston Center, and the Dallas Medical District. Both municipalities also benefit from proximity to Northwest Highway and LBJ Freeway.
For public transit, the Dallas Area Rapid Transit (DART) light rail system serves the Park Cities via a nearby transit hub rather than an in-town station. The trains run in a tunnel beneath the North Central Expressway and stop at Mockingbird Station, adjacent to the SMU campus.
Local Amenities and Retail
Highland Park Village is the primary shopping and dining hub for Highland Park residents - a walkable, upscale environment that anchors the neighborhood's daily commercial life.
University Park centers around Snider Plaza, a walkable retail node with a strong neighborhood feel, situated close to the SMU campus. That proximity gives University Park a distinct college-town element you won't find on the Highland Park side. It's not dramatic, but it does shape the day-to-day character of the area, and it's worth considering which retail environment actually fits how you live.
Frequently Asked Questions
Is it more expensive to buy a home in Highland Park, TX or neighboring University Park?
Highland Park generally commands higher prices, though both are ultra-luxury markets. The median sale price in Highland Park is approximately $2.72 million, while University Park's median ranges between $2.5 million and $3.17 million depending on the month.
What are the main lifestyle and neighborhood vibe differences between Highland Park and University Park?
Highland Park offers upscale, walkable shopping at Highland Park Village and slightly faster commute times to downtown Dallas. University Park has a strong neighborhood feel centered around Snider Plaza and carries Georgian architecture influenced by the adjacent SMU campus.
Which of the two Park Cities offers better walkability to local amenities like SMU and Highland Park Village?
Your specific address matters more than the municipality. University Park properties are located closer to the SMU campus and Snider Plaza, while Highland Park homes provide closer access to Highland Park Village.
