The Top 5 Best Neighborhoods in Dallas to Own a Home

The Top 5 Best Neighborhoods in Dallas to Own a Home

In a large metroplex such as the city of Dallas, there are plenty of areas that are beneficial to different people. However, when naming the “best” neighborhoods in which to buy a home, there are several factors that come into play:

  • Desirability: How fast do the homes in the neighborhood sell? Are they selling for a higher than average prices? If a sale price is higher than average, the neighborhood usually has a higher desirability rate.
  • Location: The location of a neighborhood greatly affects the lifestyle that a resident of the area would have. If a neighborhood has easy access to features and attractions, as well as bars and restaurants, it’s generally considered a more sought-after neighborhood, especially for young professionals.
  • Schools: What is the school district in the area like? Are there any good private schools available? While the Dallas ISD does not have as good of a reputation as surrounding districts, some of the DISD schools have made a name for themselves with high ratings.

Here are the top five neighborhoods in which to look for Dallas homes for sale, based on the above factors.

Preston Hollow

Preston Hollow is considered one of the most luxurious areas in Dallas. The neighborhood is situated near the North Dallas Tollway and Walnut Hill Lane, making zip codes 75220, 75225 and 75229 prime locations for their elite residents.

The area is home to many prominent residents, including former U.S. President George W. Bush, Dallas Mavericks owner Mark Cuban and energy tycoon T. Boone Pickens. Some of the most famous streets in the neighborhood include Inwood Road and Strait Lane, which are where some of the most gorgeous mansions in Dallas are located. The average home price is $569,250, but homes can reach upwards of $30,000,000.

While Preston Hollow is zoned to DISD, many residents of the neighborhood choose to take advantage of the multiple private schools in the area, such as the St. Mark’s School of Texas and the Ursuline Academy of Dallas.

Oak Lawn

The neighborhood of Oak Lawn is located north of downtown Dallas and is made up of several areas including Victory Park (75201), Uptown and West Village (75204). In Oak Lawn you’ll find high-rise condos and townhomes, and the area boasts a very high walkability score due to its vicinity to Dallas nightlife and plenty of restaurants.

The median home value in Oak Lawn is $307,773, and while the the neighborhood bars and clubs draw large crowds, the area boasts quieter streets with charming duplexes as well as luxury homes along Turtle Creek.

Lake Highlands

Lake Highlands is located in northeast Dallas in the 75231, 75238 and 75243 zip codes but has a small-town feel due to its focus around Lake Highlands High School, which is zoned to the Richardson ISD, a district known for its good public schools.  A majority of the area’s residents can be heard cheering on the Wildcat football team on fall Friday nights at the Wildcat Stadium.

The neighborhood gets its name due to its vicinity to White Rock Lake, and construction on homes began in the 1960s. The median home value in Lake Highlands is $287,000.

The area is best suited for residents who want to bring a bit of small-town charm to their Dallas address.


Situated near downtown Dallas and west of White Rock Lake, close to SMU and walking distance to the popular Lower Greenville Avenue, the neighborhood’s location makes it prime real estate for homebuyers.

Lakewood homes (which have an average price of $968,000 and are located in the 75214 zip code) are also popular due to the early 20th-century Craftsman, Bungalow and Tudor style homes, as well as a mix of new homes that are being constructed to reflect the original style of original Lakewood properties.

Some of Dallas ISD’s better schools are located in Lakewood, giving the neighborhood a leg up over other Dallas areas zoned to the district.

White Rock

Home buyers looking to live near Dallas’ only lake flock to the White Rock neighborhood and can choose from Craftsman and Tudor style homes with architecture original to Dallas.

Residents of the 75218 neighborhood enjoy jogging and biking trails and is popular among those who want to enjoy peace and quiet by the lake. However, homes with a water view will cost at least a few million dollars.

White Rock is also located about five miles from downtown Dallas and is zoned to DISD, with access to some of the district’s better schools in surrounding neighborhoods such as Lakewood.

Be sure to check out some of the great homes in these neighborhoods, or in surrounding Dallas suburbs such as Plano, University Park, Garland, Richardson and Frisco. Then, contact a agent to get started on your home-buying journey!

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