10 Richest Neighborhoods in Dallas

By PropertyClub Team
Oct 21st 2023
Dallas is known for its enormous skyscrapers, commercial entertainment, and competitive sporting events. But this bustling city is also home to an abundance of wealthy communities. This list of the eight richest neighborhoods in Dallas will help you decide which luxury area within the city to call home.

hash-mark10 Richest Dallas Neighborhoods

  1. Highland Park
  2. Westover Hills
  3. University Park
  4. Bluffview
  5. Russwood Acres
  6. Preston Hollow
  7. Greenway Parks
  8. Lakewood Heights
  9. Melshire Estates
  10. North Dallas

hash-mark1. Highland Park

Highland Park is the richest neighborhood in Dallas. Located just north of downtown, this affluent neighborhood is the epitome of luxury living. In addition to its stunning assortment of upscale residences, this area is also home to walkable streets and an abundance of recreational centers. Residents of this wealthy community can also take advantage of the area’s well-maintained green spaces, which include Lakeside Park, Fairfax Park, and Jester Park. Additionally, those living in Highland Park will note the subtle exclusivity in its streets, which gives it a more private feel than other parts of the city. Home prices in this area average $2.37 Million, making Highland Park the most expensive neighborhood in Dallas. 

hash-mark2. Westover Hills

The second-richest neighborhood in Dallas is Westover Hills. Located southeast of the city center, Westover Hills is considered a quiet community with a generally peaceful atmosphere. Tall trees line the streets of this neighborhood, as do enormous luxury homes with highly tailored front lawns. These homes are dressed to impress and are ideal for those who like to entertain – indoors or outdoors. Additionally, the roads here are wide and highly walkable, inviting residents who prefer an active lifestyle. With home values averaging over $2.3 Million, Westover Hills is the second-most expensive city in the Dallas area. 

hash-mark3. University Park

University Park is widely considered to be one of the most expensive neighborhoods in Dallas. This district sits just north of Highland Park and is known for its rows of luxury homes and affluent local resident base. In 2018, it was even ranked the second-wealthiest city in the nation based on data from the American Community Survey. The town’s namesake, Southern Methodist University, attracts students and young professionals alike, which creates an influx of younger residents. Even so, the local community strives to impress, maintaining chic shopping options, abundant local greenspaces, and a stunning real estate market. Home values in University Park average $1.97 Million, making it the perfect area for a lavish lifestyle. 

hash-mark4. Bluffview

Situated in Dallas’ northwestern corner is Bluffview, another one of the city’s wealthiest neighborhoods. The land dedicated to this beautiful neighborhood was once a simple farm pasture. But today, his area features a collection of the city’s most expensive estates and is highly recognized for its winding streets and charming local character. Because it was developed on a bluff of Bachman Creek, this neighborhood also offers its residents an abundance of natural outdoor spaces, as well as scenic views of the local rolling hills. Home prices in Bluffview average $1.95 Million, making it an expensive and rich Dallas neighborhood. 

hash-mark5. Russwood Acres

A subset of Preston Hollow, Russwood Acres is a rich Dallas neighborhood with much to offer its residents. This high-end neighborhood sits roughly ten miles from the city center and was built with the intention of being a luxurious yet understated area. The tree-lined streets of Russwood Acres add a sense of privacy and seclusion to its rows of manicured lawns, which are generally half-acre plots. Residents here will find no shortage of available square footage, as even the smallest homes have at least 3,400 square feet. Average home prices in this area fall between $182-$226 per square foot, making Russwood Acres the perfect place for wealthy homebuyers. 

hash-mark6. Preston Hollow

Preston Hollow is universally considered one of Dallas’s richest neighborhoods. This neighborhood is located roughly five miles north of the city center and is known for its wealthy resident base, which is made up of approximately 13,000 people. The area is home to an abundance of urban amenities, which include high-end retail centers, a happening restaurant scene, and beautiful local parks. Particular points of interest in Preston Hollow include the Northaven Trail and Gardens, Preston Hollow Park, and Preston Center. Home values in Preston Hollow average $1.62 Million, keeping it an essential part of Dallas’s wealthiest communities. 

hash-mark7. Greenway Parks

Greenway Parks is a wealthy Dallas neighborhood that has long been known as an exclusive place to live. The neighborhood was developed in the 1920s as a luxurious residential oasis approximately 5 miles north of Downtown Dallas. This proximity to the city center makes the area an ideal place to live for commuters. Greenway Parks also offers homebuyers a wonderful mix of architectural styles to choose from, including classic Tudor and Colonial houses as well as more contemporary homes. The median home price in Greenway Parks is $1.24 million, making it one of the most expensive neighborhoods in Dallas.  

hash-mark8. Lakewood Heights

Lakewood Heights is a rich Dallas neighborhood with a welcoming and friendly attitude. Located less than five miles from Downtown Dallas, this area is known for its tree-lined streets, active local community, and exceptional school systems. This is the perfect place for anyone who is interested in living in a highly walkable area, as this neighborhood is within walking distance to a wealth of local parks, restaurants, music venues, and the Historic Lakewood Shopping Center. From Craftsman-style bungalows to Tudor-style residences, homes in this area have a wide range of architectural styles, and the average sales price is $1.16 Million. This makes Lakewood Heights an affluent and highly sought-after area. 

hash-mark9. Melshire Estates

Melshire Estates is another one of the richest neighborhoods in Dallas. Located approximately 9 miles from Downtown Dallas, Melshire Estates is known for its large homes and verdant tree-lined streets. Although the neighborhood is primarily residential, its southeastern corner borders the Preston Forest Shopping Center, which features a Whole Foods, two fitness studios, and numerous other shops and restaurants.
Melshire Estates is also one of the best Dallas neighborhoods for families, as it is close to some of the city’s best-rated public schools. The median home price in Melshire Estates is $945,000.

hash-mark10. North Dallas

North Dallas is another rich area located above the city’s bustling center. This neighborhood sits a little over ten miles from Downtown and is home to roughly 39,000 residents. The neighborhood itself is considered a family-friendly area and provides its residents with a variety of luxury amenities, such as beautiful public parks and acclaimed private schools. Notable local attractions include Bert Fields Park, Mary Kay Museum, and the State Fair of Texas. And, because North Dallas provides quick access to the city, it is also considered an excellent area for commuters. With home values averaging $894k, North Dallas is sure to impress those who prefer a luxury lifestyle.