Best Places to Buy a Home in Dallas

Dallas, Texas—a city that balances its rich history with modern innovation. It’s a vibrant, sprawling metropolis known for its booming job market, excellent schools, and affordable housing compared to other major cities in the U.S. Whether you’re looking to plant roots or invest in real estate, Dallas is a prime location. But with over 200 neighborhoods, each with its own unique vibe, it can be overwhelming to decide where to buy a home. This guide will take a deep dive into some of the best areas in Dallas to purchase a home, examining factors like property values, safety, schools, lifestyle, and long-term investment potential.

1. Preston Hollow: A Luxurious Oasis with Historic Charm

When it comes to luxury living in Dallas, Preston Hollow tops the list. Located just 6 miles north of downtown, this area is known for its sprawling estates, tree-lined streets, and a mix of both contemporary mansions and stately older homes. Some of the city’s wealthiest residents, including business tycoon Mark Cuban, call Preston Hollow home.

• Real estate: Homes in Preston Hollow often feature spacious lots, with prices ranging from $1.5 million to $10 million for larger estates.
• Investment potential: Although prices are high, Preston Hollow offers strong long-term investment potential due to its established reputation and limited availability of land for new development.
• Lifestyle: Residents enjoy a suburban feel while being minutes from the urban heart of Dallas. Upscale shopping at NorthPark Center and access to top-tier private schools like St. Mark's School of Texas make this area highly desirable.

Why buy here? If you value luxury, privacy, and want to live among Dallas’ elite, Preston Hollow is one of the best neighborhoods to consider. It’s also ideal for families seeking top schools and professionals who desire a short commute to downtown.

2. Lakewood: Nature and Culture by White Rock Lake

If you prefer the beauty of nature combined with a strong sense of community, Lakewood might be your perfect match. This neighborhood is located on the shores of White Rock Lake, offering residents a mix of stunning waterfront homes, historic architecture, and proximity to one of Dallas’ most beloved outdoor spaces.

• Real estate: Homes range from $400,000 to several million, with a mix of historic Craftsman bungalows, mid-century ranches, and modern homes.
• Schools: Lakewood is served by the highly rated Woodrow Wilson High School and has a reputation for being one of the best areas for families with school-aged children.
• Lifestyle: The highlight of living in Lakewood is the access to outdoor activities like kayaking, biking, and jogging around White Rock Lake. The area also boasts a vibrant arts scene and local festivals, making it a culturally rich community.

Why buy here? Lakewood offers a serene, nature-filled environment without sacrificing urban conveniences. It’s a fantastic choice for outdoor enthusiasts and those seeking a laid-back yet active lifestyle.

3. Uptown Dallas: Trendy, Walkable, and Young Professional-Friendly

For those who crave an urban, walkable lifestyle, Uptown Dallas is the place to be. This lively, upscale neighborhood is known for its vibrant dining, nightlife, and proximity to downtown.

• Real estate: Uptown offers a mix of luxury high-rise condos, sleek apartments, and upscale townhomes. Prices range from $300,000 for a condo to over $1 million for larger townhomes.
• Investment potential: With ongoing development and high demand from young professionals, Uptown’s property values are expected to continue rising.
• Lifestyle: Uptown is a hub for young professionals who enjoy being close to restaurants, bars, shopping, and major employers. The Katy Trail, a popular 3.5-mile walking and biking path, runs through the neighborhood, offering residents outdoor recreational opportunities.

Why buy here? If you’re looking for an exciting, urban lifestyle where you can walk to work, restaurants, and entertainment, Uptown is hard to beat. Its proximity to downtown also makes it a great option for professionals who want to minimize their commute.

4. Bishop Arts District: The Quirky, Artsy Neighborhood

Known for its eclectic, creative spirit, the Bishop Arts District is one of Dallas’ trendiest areas. Located in Oak Cliff, just southwest of downtown, this neighborhood is famous for its unique boutiques, art galleries, and vibrant food scene.

• Real estate: Home prices in Bishop Arts are relatively affordable, ranging from $300,000 to $700,000 for single-family homes. The area is also popular for historic homes and new construction.
• Investment potential: With ongoing revitalization and an increasing demand for housing, Bishop Arts offers solid investment potential, especially for those looking to buy a home that could increase in value over time.
• Lifestyle: Residents enjoy a mix of cultural events, live music, and local festivals. The area has a strong sense of community and is known for its diversity and inclusion.

Why buy here? If you’re an artist, a foodie, or just someone who loves living in a place full of character and history, Bishop Arts offers a unique and vibrant lifestyle that you won’t find elsewhere in Dallas.

5. Highland Park: The Pinnacle of Dallas Affluence

Located just north of downtown, Highland Park is one of the most prestigious and affluent neighborhoods in Dallas. Known for its elegant homes, manicured streets, and top-rated schools, Highland Park offers a level of exclusivity that is hard to match.

• Real estate: Home prices in Highland Park are among the highest in Dallas, with properties ranging from $1.5 million to over $10 million.
• Schools: The neighborhood is served by the highly acclaimed Highland Park Independent School District, consistently ranked as one of the best in the state.
• Lifestyle: Highland Park Village, an upscale shopping center, features designer boutiques and fine dining. The neighborhood also offers close proximity to cultural institutions like the Dallas Museum of Art and the Meyerson Symphony Center.

Why buy here? If you’re seeking a luxurious, family-friendly neighborhood with top schools and stunning homes, Highland Park is one of the most coveted areas in Dallas.

6. Plano: Suburban Comfort with Big City Amenities

Technically a suburb of Dallas, Plano is one of the fastest-growing areas in the region. Located about 20 miles north of downtown, Plano offers a perfect balance of suburban living with easy access to city amenities.

• Real estate: Home prices in Plano are relatively affordable compared to Dallas, with a median home price of around $400,000. There’s a wide variety of housing options, from single-family homes to new developments.
• Schools: Plano is home to some of the best public schools in Texas, making it a popular choice for families.
• Lifestyle: Residents enjoy a family-friendly environment with access to parks, golf courses, shopping centers, and a growing restaurant scene. Plano’s strong job market, particularly in tech and finance, is another draw.

Why buy here? Plano is ideal for families or anyone seeking a quieter, suburban lifestyle with access to excellent schools and a strong job market. It’s also a good option for those looking for more affordable housing options near Dallas.

7. Frisco: The Boomtown of the North

Another popular suburb, Frisco is often referred to as one of the best places to live in the U.S. due to its rapid growth, family-friendly environment, and strong economy. Located about 25 miles north of Dallas, Frisco is known for its excellent schools, new developments, and high quality of life.

• Real estate: Homes in Frisco range from $400,000 to $1.5 million, with new construction dominating the market. The area is known for its large, modern homes and master-planned communities.
• Investment potential: Frisco’s rapid growth and ongoing development make it a great place to invest in real estate.
• Lifestyle: Frisco is home to The Star, the Dallas Cowboys’ training facility, as well as major retail developments like Stonebriar Centre. The city also offers numerous parks, sports complexes, and a vibrant social scene.

Why buy here? Frisco is a great choice for families looking for a newer, growing community with access to top schools, ample amenities, and a high quality of life. Its booming real estate market makes it a smart investment for the future.

8. East Dallas: Affordable, Up-and-Coming Neighborhoods

If you’re searching for an affordable home in a rapidly developing area, East Dallas is worth considering. With neighborhoods like Casa Linda and Little Forest Hills, East Dallas is becoming increasingly popular with young professionals and families looking for more space and lower home prices.

• Real estate: Home prices range from $250,000 to $600,000, with a mix of older, renovated homes and new construction.
• Investment potential: East Dallas is considered an up-and-coming area, offering great opportunities for investment as more people move in and property values rise.
• Lifestyle: The area is known for its proximity to White Rock Lake, local restaurants, and a laid-back, artistic vibe.

Why buy here? East Dallas is perfect for buyers who want to get into an affordable neighborhood before it fully gentrifies, offering a great blend of community, nature, and investment potential.