Highland Park, Texas is one of the most exclusive addresses in America. This small city of just 2.26 square miles sits completely encircled by Dallas and University Park. It operates as its own municipality with its own police department, city hall, and school district. It is not a neighborhood within Dallas. It is its own world.
The result is some of the most expensive real estate in Texas. Homes here routinely trade above $2 million. The most coveted streets command $10 million to $30 million and beyond. With Texas offering no state income tax and no state capital gains tax, buyers from across the country see Highland Park as a rare combination: old-money prestige, elite public schools, and exceptional tax treatment.
Founded in 1913, Highland Park was designed from the start as a planned luxury enclave. The 2,500 or so homes here were built primarily between 1920 and 1950, with deed restrictions, mature tree canopies, and wide landscaped boulevards baked in from the beginning. Very little land remains for new construction, which keeps supply perpetually tight and prices consistently high.
Highland Park Neighborhood Price Overview
Highland Park is small enough that some buyers treat it as a single market. But price varies significantly by street and section. Here is how the six primary sub-areas stack up:
| Neighborhood | Median Sale Price | Price Per Sq Ft | Architectural Style |
|---|---|---|---|
| Lexington Avenue Estates | $12M+ | $1,400 – $1,900 | 1920s-1940s estates on large lots |
| French Streets | ~$6.5M | $1,100 – $1,500 | French and Mediterranean stone homes |
| Lakeside Park / Armstrong Pkwy | ~$6M | $900 – $1,200 | Park-facing traditional estates |
| Beverly Drive | ~$5M | $900 – $1,200 | Georgian and traditional brick |
| Arcady / Dallas Country Club | ~$4M | $800 – $1,100 | Mediterranean revival and new construction |
| Highland Park West | ~$2.8M | $700 – $900 | Traditional brick, 1930s-1950s |
1. Lexington Avenue Estates
Median sale price: $12M+ | Price per sq ft: $1,400 – $1,900
Lexington Avenue Estates is the pinnacle of Highland Park real estate. Homes here sit on half-acre to five-acre lots, with limestone and brick mansions built in the 1920s through the 1940s. Streets in this enclave include Lexington Avenue itself along with adjacent addresses on Saint Johns Drive and other nearby blocks northwest of Armstrong Parkway.
The lots are unusually large for an urban enclave. Gated driveways, carriage houses, and formal gardens are common. Many homes have been meticulously restored while maintaining original architectural details: barrel-vaulted ceilings, hand-carved stonework, and walnut-paneled libraries. A few have been sensitively expanded with additions that blend seamlessly into the original structure.
Dallas Cowboys owner Jerry Jones owns an estate in this area valued between $26 million and $33 million. The property was built in 1931 and encompasses approximately 14,000 square feet on nearly five acres. Jones has owned the estate for decades and it is considered one of the landmark private properties in all of Texas.
Active listings here tell the story. 3711 Lexington has been listed at $29.9 million, and 3517 Lexington at $14.995 million. On nearby Saint Johns Drive, 3606 Saint Johns was listed at $13.25 million. These are not outliers. They represent the going rate for the best addresses in Highland Park.
Key Facts: Lexington Avenue Estates
| Median Sale Price | $12M+ |
| Price Per Sq Ft | $1,400 – $1,900 |
| Lot Sizes | 0.5 – 5 acres |
| Architecture | 1920s-1940s stone and brick estates |
| Notable Resident | Jerry Jones (Dallas Cowboys owner) |
| Active Listing Range | $13.25M – $29.9M |
2. The French Streets
Median sale price: ~$6.5M | Price per sq ft: $1,100 – $1,500
The French Streets form the emotional heart of Highland Park’s luxury market. Bordeaux Avenue, Lorraine Avenue, Versailles Avenue, Belclaire Avenue, and Westway Avenue form a tight cluster of limestone and stone estates dating from the 1920s through the 1940s. The architecture here is remarkable: genuine French Provincial, Mediterranean, and Norman Revival homes with clay tile roofs, arched doorways, and stone carvings that took craftsmen months to complete.
These streets are tree-canopied and relatively quiet. Most lots run 75 to 150 feet wide, with deep setbacks and manicured formal gardens. Many homes have been carefully updated with modern kitchens and systems while preserving the period character that makes them irreplaceable. You cannot build a 1930s French Provincial anymore. That is part of what commands the premium.
Recent listings give a sense of the market depth here. 4259 Bordeaux Avenue was listed at $14.95 million. 4433 Bordeaux came in at $7.79 million. On Lorraine Avenue, 4555 Lorraine was listed at $6.84 million. The range is broad but the floor is firm, reflecting genuine scarcity of these original limestone estates.
Key Facts: The French Streets
| Median Sale Price | ~$6.5M |
| Price Per Sq Ft | $1,100 – $1,500 |
| Primary Streets | Bordeaux, Lorraine, Versailles, Belclaire, Westway |
| Architecture | French Provincial, Norman Revival, Mediterranean |
| Era Built | 1920s – 1940s |
| Active Listing Range | $6.84M – $14.95M |
3. Lakeside Park and Armstrong Parkway
Median sale price: ~$6M | Price per sq ft: $900 – $1,200
Lakeside Drive and Armstrong Parkway offer something few streets in any American city can match: grand estate homes facing a 14.32-acre linear park along Turtle Creek. The park runs through the heart of Highland Park, with mature pecan and live oak trees, walking paths, and seasonal wildflowers. Homes facing this park command a consistent premium over everything else on comparable blocks.
The homes along Lakeside Drive and Armstrong Parkway were mostly built in the 1920s through the 1940s. Traditional brick estates, Georgian revival homes, and a few Tudor-influenced properties face the park. Lot widths vary from 75 to 125 feet, with generous setbacks. The visual effect is one of a private estate district rather than a conventional urban street.
4211 Lakeside Drive, a substantial estate facing the park, has been listed at $9.5 million. Park-facing homes here rarely stay on the market long when priced right, reflecting the scarcity of creek-view positions in this enclave.
Key Facts: Lakeside Park and Armstrong Parkway
| Median Sale Price | ~$6M |
| Price Per Sq Ft | $900 – $1,200 |
| Defining Feature | Park-facing homes along 14.32-acre Turtle Creek corridor |
| Architecture | Georgian, traditional brick, Tudor revival |
| Era Built | 1920s – 1940s |
| Active Listing Range | From $9.5M for park-facing estates |
4. Beverly Drive
Median sale price: ~$5M | Price per sq ft: $900 – $1,200
Beverly Drive runs east-west through the center of Highland Park, serving as the de facto main street for the city’s residential core. Unlike a typical urban boulevard, Beverly Drive is a wide tree-lined estate road flanked by some of the most substantial brick homes in the city. The mix here runs from 1930s Georgian revivals to 1940s traditional brick to a handful of sensitively designed newer homes that replaced teardowns over the past two decades.
Beverly Drive is also one of the longer streets in Highland Park, meaning inventory turns up here more frequently than on some of the shorter pocket streets. That slightly higher turnover makes Beverly Drive the street where many buyers begin their Highland Park search. Homes range widely in size, from approximately 3,500 square feet on the more modest end to sprawling 8,000-plus-square-foot estates on the best lots.
Recent listings illustrate the range: 4416 Beverly Drive at $9.5 million, 3605 Beverly Drive at $7.75 million, and 4429 Beverly Drive at $4.795 million. The lower end of that range still reflects land value alone in Highland Park, where a modest home on a prime lot often sells to a developer who will build at the city’s allowable maximums.
Key Facts: Beverly Drive
| Median Sale Price | ~$5M |
| Price Per Sq Ft | $900 – $1,200 |
| Street Character | Wide tree-lined boulevard, main east-west corridor |
| Architecture | Georgian revival, traditional brick, some modern infill |
| Era Built | 1930s – 1950s (with some newer replacements) |
| Active Listing Range | $4.795M – $9.5M |
5. Arcady Avenue and the Dallas Country Club Area
Median sale price: ~$4M | Price per sq ft: $800 – $1,100
The area around Arcady Avenue and the Dallas Country Club sits in the southwestern quadrant of Highland Park, close to the city’s most famous landmark: Highland Park Village. Built in 1931, Highland Park Village was one of the first planned shopping centers in the United States. It still operates today as a luxury retail hub anchored by Hermes, Chanel, and Veronica Beard. Living within walking distance adds a lifestyle premium on top of the standard Highland Park scarcity premium.
The Dallas Country Club, founded in 1896, sits just inside the Highland Park boundary. Club membership remains among the most selective in Texas. Proximity to the club influences home values on the surrounding blocks, with buyers willing to pay a premium for walkable access to the golf course and club facilities.
The housing stock here is a mix. Period homes from the 1930s and 1940s coexist with new construction on recently cleared lots. That new construction tends toward Mediterranean revival designs that complement the adjacent Village architecture. 4401 Arcady Avenue, a recently completed new construction estate, was listed at $15.95 million, illustrating what top-tier new builds command in this sub-market.
Key Facts: Arcady and Dallas Country Club Area
| Median Sale Price | ~$4M |
| Price Per Sq Ft | $800 – $1,100 |
| Nearby Amenities | Highland Park Village (1931), Dallas Country Club (1896) |
| Architecture | 1930s-1940s traditional plus new Mediterranean construction |
| New Construction | Active, with teardowns and new builds at premium prices |
| Notable Listing | 4401 Arcady at $15.95M (new construction) |
6. Highland Park West
Median sale price: ~$2.8M | Price per sq ft: $700 – $900
Highland Park West occupies the southern portion of the city, below Mockingbird Lane, carrying the 75209 zip code rather than the 75205 zip of Highland Park proper. This distinction matters to some buyers and not at all to others. What Highland Park West delivers is the same Highland Park Independent School District, the same city services, and the same police department at a meaningfully lower price point than the streets to the north.
The homes here date primarily from the 1930s through the 1950s. Traditional brick construction predominates. Lot widths are narrower on average than in the northern sections, and setbacks tend to be smaller. The result is a slightly denser feel, though still unmistakably Highland Park in character and maintenance standards.
Streets like South Versailles and South Belclaire give buyers access to the Highland Park name, the HPISD schools, and the municipal services at prices that can be meaningfully below comparables just a few blocks north. Active listings on South Versailles have ranged from $1.765 million to $3.35 million, while South Belclaire homes in the area trade around $3.199 million. For buyers prioritizing school access over prestige address, Highland Park West represents genuine value within the Highland Park market.
Key Facts: Highland Park West
| Median Sale Price | ~$2.8M |
| Price Per Sq Ft | $700 – $900 |
| Zip Code | 75209 (vs. 75205 for Highland Park proper) |
| Schools | Highland Park ISD (same as all of Highland Park) |
| Architecture | Traditional brick, 1930s – 1950s |
| Active Listing Range | $1.765M – $3.35M |
Property Taxes in Highland Park, TX
Highland Park sits in Dallas County, and property owners here pay taxes to four entities: the City of Highland Park, Highland Park ISD, Dallas County, and Parkland Hospital. The combined effective rate runs approximately 1.09%, which is competitive for a Dallas-area address.
Here is the 2025 rate breakdown:
| Taxing Entity | Rate per $100 AV |
|---|---|
| City of Highland Park | $0.199296 |
| Highland Park ISD | $0.835000 |
| Dallas County | $0.215500 |
| Parkland Hospital District | $0.212000 |
| Combined Effective Rate | ~$1.09 / $100 |
On a $3 million home, that works out to roughly $32,700 per year in property taxes. Texas passed a $140,000 homestead exemption on the school district portion in November 2025, which reduces the HPISD taxable value for primary residences and provides meaningful savings for homeowners who occupy their property year-round.
The broader Texas tax advantage compounds this. The state has no state income tax and no state capital gains tax. A buyer moving from California, New York, or Illinois who earns significant W-2 or investment income can recoup years of property tax costs through state income tax savings alone.
Highland Park Schools: HPISD
Highland Park Independent School District is consistently ranked among the top public school districts in Texas. The district serves approximately 6,800 students across three elementary schools, one middle school, and Highland Park High School. HPHS is known for its academic program, athletics, and a college placement record that rivals many private schools in the region.
For many buyers, HPISD is the primary reason to choose Highland Park over equally appointed homes elsewhere in the Dallas area. The school district boundary is coterminous with the city limits, meaning every home in Highland Park (and Highland Park West) feeds into HPISD. This is not the case with many high-end Dallas neighborhoods, where district lines can cut through streets unexpectedly.
Frequently Asked Questions About Highland Park, TX Real Estate
What is the most expensive neighborhood in Highland Park, TX?
Lexington Avenue Estates is the most expensive area in Highland Park. Homes here have traded from $10 million to more than $30 million, with price per square foot ranging from $1,400 to $1,900. The large private lots (some approaching five acres), 1920s and 1930s stone mansion construction, and notable residents including Dallas Cowboys owner Jerry Jones make Lexington Avenue the undisputed top tier.
What is the average home price in Highland Park, TX?
Average home prices in Highland Park depend heavily on how they are measured. Median sold prices tracked by Redfin have ranged from approximately $2.3 million to $2.5 million across the full city. Average listing prices trend higher, often in the $4 million to $6 million range, reflecting the outsized influence of trophy estate listings at the upper end of the market.
Do celebrities live in Highland Park, TX?
Yes. Dallas Cowboys owner Jerry Jones has long maintained a landmark estate on Lexington Avenue valued between $26 million and $33 million. Other current and former Dallas-area sports figures, business executives, and prominent families have called Highland Park home for generations. The city’s small size and strong community identity make it a preferred address for prominent Dallas residents who value privacy along with prestige.
Is Highland Park, TX a city or a neighborhood?
Highland Park is an incorporated city. It is geographically surrounded by Dallas and University Park but operates as an independent municipality with its own city government, police department, public works, and school district. Residents pay Highland Park city taxes, not Dallas city taxes, and are served by HPISD rather than Dallas ISD.
What makes Highland Park, TX so expensive?
Several factors converge: a fixed land supply (just 2.26 square miles with almost no undeveloped parcels), consistently high demand from buyers seeking top public schools without the trade-offs of more urban neighborhoods, original 1920s-1940s stone and brick architecture that cannot be replicated, the Highland Park ISD school system, Texas’s lack of a state income tax, and a strong community culture of property maintenance and deed restriction enforcement. Together these factors create a market where supply is structurally constrained and demand is consistently institutional-grade.
What are property taxes like in Highland Park, TX?
The combined effective property tax rate in Highland Park is approximately 1.09% of assessed value. On a $3 million home, that equates to roughly $32,700 per year. Texas has no state income tax or capital gains tax, which means the total tax burden for high-income buyers in Highland Park is often lower than in comparable luxury markets like Los Angeles, New York, or Chicago despite the property tax rate.
Is Highland Park, TX Worth the Price?
Highland Park delivers a package that is genuinely hard to replicate: original prewar architecture on established lots, top-ranked public schools, an incorporated city with responsive local government, and a Dallas location that puts buyers within minutes of one of the strongest job markets in the country. The price premium over the broader Dallas luxury market is real. So is the reason for it.
For buyers whose priorities include school quality, architectural authenticity, and a community that has maintained its character for over a century, Highland Park consistently delivers. For buyers focused purely on square footage or land per dollar, other Dallas suburbs will offer more. Highland Park’s appeal has never been about value in the conventional sense. It is about access to something that cannot be built again.
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