Highland Park, TX Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Highland Park, TX Housing Market Trends

With 9,083 people, 3,656 houses or apartments, and a median cost of homes of $1,639,049, Highland Park house prices are not only among the most expensive in Texas, Highland Park real estate also is some of the most expensive in all of America.

Highland Park is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Highland Park than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Highland Park. Owner-occupied housing accounts for 83.01% of Highland Park's homes, and 58.26% have either three or four bedrooms, which is average sized relative to America.

The housing in Highland Park was primarily built before 1939 ( 34.16%), making the housing stock in Highland Park some of the oldest overall in America, although there is a range of ages of homes in Highland Park. The next most important housing age is between 1970-1999 ( 26.05%), followed by between 1940-1969 ( 22.78%). There's also some housing in Highland Park built between 2000 and later ( 17.00%).

Vacant housing appears to be an issue in Highland Park. Fully 11.48% of the housing stock is classified as vacant. Left unchecked, vacant Highland Park homes and apartments can be a drag on the real estate market, holding Highland Park real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Highland Park Home Appreciation Rates

In the last 10 years, Highland Park has experienced some of the highest home appreciation rates of any community in the nation. Highland Park real estate appreciated 58.11% over the last ten years, which is an average annual home appreciation rate of 4.69%, putting Highland Park in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Highland Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Highland Park appreciation rates have trailed the rest of the nation. In the last twelve months, Highland Park's appreciation rate has been 4.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Highland Park were at 1.81%, which equates to an annual appreciation rate of 7.42%.

Relative to Texas, our data show that Highland Park's latest annual appreciation rate is lower than 60% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$1,639,049

Highland Park, TX HOME PRICES

> $1,096,000
69.3%
69.3%
$822,001 - $1,096,000
15.4%
15.4%
$548,001 - $822,000
5.8%
5.8%
$439,001 - $548,000
1.3%
1.3%
$329,001 - $439,000
3.1%
3.1%
$219,001 - $329,000
1.3%
1.3%
$110,001 - $219,000
3.0%
3.0%
$55,001 - $110,000
0.3%
0.3%
$0 - $55,000
0.5%
0.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for TX

Value Relative To Nation

Number Of Homes And Apartments:
3,656

Highland Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
141.63% 4.29%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,423 / per month

Homeownership Rate

Owners
83.0%
83.0%
Renters
17.0%
17.0%
Vacant
11.5%
11.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.0%
17.0%
1970 - 1999
26.1%
26.1%
1940 - 1969
22.8%
22.8%
1939 or Older
34.2%
34.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
79.4%
79.4%
Townhomes
4.4%
4.4%
Small Apt. Buildings
2.7%
2.7%
Apt. Complexes
13.6%
13.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
6.0%
6.0%
2 Bedrooms
14.9%
14.9%
3 Bedrooms
28.2%
28.2%
4 Bedrooms
30.1%
30.1%
5 or more bedrooms
20.4%
20.4%
0.0% 100.0%
% OF HOMES