Trying to choose between Highland Park and University Park for your next luxury home? You are not alone. Both sit inside the Park Cities and deliver a rare blend of location, schools, and long-term value that draws buyers from across Dallas and beyond. In this guide, you will see how the two towns compare on pricing and pace, schools, taxes, lifestyle, and resale so you can match your priorities to the right address. Let’s dive in.
Market snapshot at a glance
Luxury medians in both towns sit in the multi‑million range, and month-to-month numbers can swing because the high end closes on small counts. Always anchor any comparison to a month and data provider.
Here is a quick recent snapshot:
| Town | Median Sale Price | Median Days on Market | Month and Source |
|---|---|---|---|
| University Park | $2,885,000 | 35 | Jan 2026, Redfin |
| Highland Park | $2,850,000 | 88 | Jan 2026, Redfin |
These medians reflect a single month with very few closings, which creates volatility. For added context, neighborhood pages that track the broader Park Cities reported list-price medians in the roughly $2.5 million to $2.6 million range in late 2025 (Realtor.com, Dec 2025). The takeaway is simple: at this tier, one or two closings can move a median, so you should rely on address-level comps when you are ready to write an offer.
What sells fast today? Updated or well-priced properties in the $1 million to $4 million range can still move quickly in top school zones. Ultra-luxury estates often take longer and require a different marketing approach. Sale-to-list ratios and days on market vary by segment and month, so confirm the figures for your specific price band before you bid.
Why HPISD drives demand
Both Highland Park and University Park are largely served by Highland Park ISD, which operates the elementary schools through Highland Park High School. HPISD consistently receives strong district ratings, and local reporting shows the district earned an A overall rating on the 2023 report card. You can read more about local coverage of the district’s ratings in Park Cities People’s news piece on the topic.
- Explore HPISD boundary and attendance details on the district’s site. Always confirm the specific school for a property address using the district’s boundary resources, since elementary lines have been adjusted in prior years.
Helpful links:
- Review HPISD school information and governance on the district site: Highland Park ISD overview.
- Verify attendance for a specific address using HPISD resources: HPISD boundary and rezoning info.
- See local reporting on recent ratings: Park Cities People coverage of HPISD’s rating.
What this means for you: because both towns feed HPISD, many buyers look to University Park to capture district access with, in many cases, more interior square footage at a given budget. Meanwhile, the Highland Park address and certain micro-locations carry a prestige premium thanks to their extreme scarcity and historic cachet. Treat HPISD access and Park Cities prestige as separate benefits and price drivers.
Lifestyle and location
If you lean University Park, you likely value the campus energy around Southern Methodist University and the easy, everyday convenience of Snider Plaza. The area’s dining and shopping clusters create a walkable, village feel near the university. For a taste of the scene, check the city’s visitor content about things to do around SMU: Visit Dallas, SMU area guide.
If Highland Park speaks to you, you are probably thinking about boutique retail at Highland Park Village, curated streetscapes, and a very refined sense of place. Highland Park Village is often cited as the nation’s first planned shopping center, and its Spanish and Mediterranean design language helped shape the area’s architectural identity. For design context, see this piece on the center’s renovation and history: Highland Park Village, design overview.
In day-to-day living, both towns offer mature trees, well-kept parks, and close proximity to central Dallas. The difference is in texture. University Park reads a touch more campus-adjacent and lively around SMU, while Highland Park feels quieter and more insulated near its iconic boulevards and village retail.
Lot sizes and housing character
Both towns feature early-20th-century architecture alongside modern new construction. You will see Tudors, Georgian and Colonial forms, Spanish and Mediterranean revival, and clean-lined contemporary builds. Renovations and tear-downs continue to refresh the housing stock in both municipalities.
Scarcity defines Highland Park at the top end. True one-acre estate parcels are exceptionally rare. That rarity supports pricing at the very top of the Dallas market and helps explain why headline-making estates often sit inside Highland Park. National reporting regularly highlights ultra-luxury offerings there, including recent properties that drew state-wide attention in the press. For context on those estate headlines, see this national piece: Wall Street Journal on a top-tier listing.
University Park covers a larger geographic footprint and often presents a deeper pool of listings in many luxury price bands. That can translate to more choice at a given budget and, in some cases, more interior square footage or lot depth compared with a similarly priced Highland Park address. Builders remain active in both towns, but you will generally see faster turnover in mid-to-upper luxury new builds in University Park.
Taxes and ongoing costs
At this price tier, the difference of a few pennies per $100 of valuation adds up. Each town sets its own municipal rate, and both fall under HPISD for school taxes. You will also pay county, hospital district, and college district taxes, so always calculate the full effective rate for a specific parcel.
- Town of Highland Park municipal rate: the town posts its adopted tax rate on its site. A recent example was approximately $0.199296 per $100 of assessed value. See the official page: Town of Highland Park property taxes.
- City of University Park municipal rate: the city publishes its adopted rate and demographics. A recent fiscal year listed a city rate near $0.236226 per $100. See the city information page: University Park demographics and tax-rate note.
- HPISD school district tax: the district has published an adopted tax rate for 2025–26 that is lower than prior years, with maintenance and operations plus interest and sinking components. Review the latest figures here: HPISD budget and tax-rate updates.
Practical example: on a $3 million taxable value, a few hundredths difference per $100 can mean thousands of dollars annually. Your total bill is city plus county plus HPISD plus hospital and college districts. Ask your agent to run the full rate stack against the property’s most recent valuation before you finalize an offer.
Which town fits your goals
Choose University Park if
- You want HPISD access with, in many cases, more interior square footage for a similar budget.
- You value proximity to SMU, Snider Plaza, and a slightly more active, campus-adjacent vibe.
- You prefer a deeper selection across several luxury price bands, which can help with timing and negotiation.
Choose Highland Park if
- You prioritize the prestige and long-term cachet of a Highland Park street address.
- You are targeting rare estate-lot product and historic boulevards with tightly held inventory.
- You want immediate proximity to Highland Park Village and the town’s very curated environment.
Both choices are excellent. Your best fit comes down to the mix of space, scarcity, address prestige, and daily routine that matters most to you.
Investment and resale perspective
At the very top end, scarcity supports Highland Park pricing and can reduce direct comps for one-of-a-kind estates. In the $2 million to $6 million band, University Park often posts more turnover, which can provide clearer comparable sales and potentially faster resale when homes are updated and well-positioned.
Month-by-month metrics like days on market and sale-to-list ratios shift by price bracket and condition. Updated or move-in-ready homes in HPISD zones can still command strong interest. Estate-scale and highly custom properties often require longer lead times and bespoke marketing. The key is to value each property by address, lot, and condition rather than relying on a single citywide median.
How we help you compare, tour, and decide
You deserve a clear, design-forward plan for one of your most important investments. Our boutique team pairs broker-level oversight with developer relationships and hands-on curation to help you:
- Benchmark pricing with address-specific comps and on-the-ground context for each block.
- Weigh municipal taxes, HOA or deed restrictions, and renovation feasibility before you commit.
- Compare turnkey homes to new-construction and high-end leasing options if timing is tight.
- Negotiate the terms that protect both your lifestyle and your investment over the long run.
When you are ready, we will craft a short list that fits your goals and walk you through each tradeoff with confidence.
Looking for a Park Cities strategy tailored to you? Connect with Wiebe Real Estate to start your private consultation.
FAQs
What are current luxury price medians in Highland Park and University Park?
- Recent snapshots showed University Park near $2.885 million and Highland Park near $2.85 million for January 2026, with days on market of about 35 and 88 respectively (Redfin, Jan 2026). Use these as directional only since small monthly sales can swing medians.
Do both Highland Park and University Park feed into the same public school district?
- Yes. Both are largely served by Highland Park ISD. Confirm the specific school zone for any address using the district’s resources here: HPISD boundary and rezoning info.
How do municipal property taxes differ between the two towns?
- Each municipality sets its own rate. A recent Highland Park example was about $0.199296 per $100 and a recent University Park example was about $0.236226 per $100. Combine city, county, HPISD, hospital, and college district rates to estimate your full bill. See the official pages: Highland Park property taxes and University Park demographics and tax note.
What lifestyle differences should I expect day to day?
- University Park connects closely to SMU and Snider Plaza for a lively, campus-adjacent feel, while Highland Park centers around Highland Park Village and curated boulevards. For a quick look at the SMU area scene, see Visit Dallas, SMU guide.
Can I find a true one-acre estate lot in either town?
- Large estate parcels exist but are exceptionally scarce in Highland Park and rare across the Park Cities overall. Expect significant premiums and limited availability when they do come to market, plus longer marketing timelines at the ultra-luxury level.
How fast do luxury homes sell in the Park Cities right now?
- Pace varies by segment. Well-priced, updated homes in the $1 million to $4 million range can move quickly, while ultra-luxury estates tend to take longer. Always check address-level comps and current days-on-market data for your target price band before you write an offer.
