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Just How Expensive is University Park?

  • Writer: Nitin Gupta, CRS, REALTOR
    Nitin Gupta, CRS, REALTOR
  • Feb 26
  • 3 min read


University Park is one of the most expensive places to live in Texas, known for its luxury homes, top-tier schools, and exclusivity. Here’s a breakdown of just how pricey it is:


1. Home Prices

  • The median home price in University Park is $1.5M–$2M, with many homes exceeding $3M–$5M+.

  • Newer or renovated properties in prime locations can sell for $1,000+ per square foot.

  • Compared to Dallas’ median home price (~$400K), University Park is 3-5 times more expensive.

✔ Historic Homes & Estates: Large, custom-built homes dominate the area, often pushing prices even higher.✔ Tear-Downs Still Cost Millions: Even smaller, older homes or tear-down lots often sell for $1M+.


2. Property Taxes

  • University Park has a property tax rate of ~2.1%, meaning a $2M home could have $40,000+ in annual taxes.

  • While there’s no state income tax in Texas, the high property values mean homeowners pay steep yearly taxes.


3. Cost of Living

  • Groceries, dining, and services tend to be higher than the Dallas average due to the area’s affluence.

  • University Park is home to exclusive country clubs, designer shopping, and high-end restaurants, catering to a wealthy demographic.

  • Private School Tuition: While Highland Park ISD is top-rated, many families still opt for private schools, costing $25K–$40K per year per child.

4. Rent Prices

  • Renting in University Park is also expensive, with luxury apartments and townhomes averaging $3,000+ per month.

  • Single-family home rentals often exceed $5,000–$10,000/month.


Final Verdict – University Park is a High-End Market

University Park is one of the most expensive places to live in Texas, with luxury real estate, high property taxes, and an elevated cost of living. It’s not for budget-conscious buyers, but for those who can afford it, the prestigious address, top schools, and exclusivity make it a prime choice.


Interested in buying or selling in University Park? Let’s connect at 469-269-6541 and explore the best opportunities in this premier neighborhood!



 

About us: University Park Expert Real Estate Agent


As a Top Real Estate Professional in University Park, I understand the challenges that arise when buying a luxury home in University Park.


As a holder of top real estate industry certifications and designations like CRS, ABR & GRI, I can offer my clients experience as a Buyer's Agent and REALTOR®, top Industry Customer Service, in-depth, up-to-the-minute and comprehensive market knowledge; honesty, integrity, dedication, and professionalism in my business.


Whether you are a first time buyer in University Park looking to buy a home in University Park or whether you are relocating to University Park from California or moving your entire family from areas like San Francisco, Fremont, Palo Alto, Los Angeles, San Diego in California due to job transfer with your company, I can help you find a luxury home in University Park. Our relocation team eases the transition - whether you are moving across town or across the globe. We will work with you to find an area that best suits your professional, family and lifestyle needs. We have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, we can make this process as comfortable as possible no matter where you are located.


What is most important to you in your new home in University Park? Send us an email at info@NitinGuptaDFW.com or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about University Park that you can use to help make your home buying decision.




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