As you head north from downtown Dallas, you will encounter Highland Park, an independent municipality. Surrounded entirely by the city of Dallas, it stands out as one of the most prestigious residential areas in Texas.

Highland Park, along with its neighbor University Park, is commonly referred to as Park Cities. The median home price in Highland Park is estimated to be between $2.5 million and $3 million, with some areas featuring large estates priced over $5 million. University Park has slightly lower prices, ranging from $1.8 million to $2.2 million.

The third notable area is Preston Hollow, known for being home to former President George W. Bush and his family, featuring large homes on spacious lots. The median price here is between $1.5 million and $2.5 million, but top-tier properties can exceed $5 million.

The Turtle Creek area, close to downtown, is also worth mentioning. This region is known for its luxury high-rise condos, with units typically priced over $1 million, and penthouses commanding even higher prices.

The background for these neighborhoods becoming affluent includes the high ratings of the Park Cities school district (Highland Park ISD) and nearly a century of development history. The planned residential areas established since the early 1900s, along with their proximity to downtown Dallas, support consistent demand.

In comparison, the overall median home price in Dallas is around $400,000, highlighting a significant gap of nearly six times with Highland Park. Such a disparity within the same metropolitan area is relatively uncommon nationwide.

While Korean investors and professionals still primarily consider Carrollton, Plano, and Frisco as their main residences, there is a gradual trend of families with substantial assets or business owners considering living in Preston Hollow or Park Cities.

Park Cities and Preston Hollow are expected to maintain the highest price tiers in the Dallas real estate market. If you are considering entering this market, it will be essential to carefully evaluate school district boundaries, lot sizes, and remodeling histories.