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 Q1 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 a population of 8,864, 3,398 total housing units (homes and apartments), and a median house value of $1,566,715, 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.

Single-family detached homes are the single most common housing type in Highland Park, accounting for 79.02% of the town's housing units. Other types of housing that are prevalent in Highland Park include large apartment complexes or high rise apartments ( 12.81%), row houses and other attached homes ( 5.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.67%).

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 84.05% of Highland Park's homes, and 58.63% have either three or four bedrooms, which is average sized relative to America.

The housing in Highland Park was primarily built before 1939 ( 32.00%), 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 ( 26.83%), followed by between 1940-1969 ( 22.53%). There's also some housing in Highland Park built between 2000 and later ( 18.64%).

Vacant housing appears to be an issue in Highland Park. Fully 13.49% 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

Appreciation rates for homes in Highland Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 77.56%, which ranks in the top 30% nationwide. This equates to an annual average Highland Park house appreciation rate of 5.91%.

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 12.33%, 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 3.63%, which equates to an annual appreciation rate of 15.35%.

Importantly, this makes Highland Park one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Texas, our data show that Highland Park's latest annual appreciation rate is lower than 90% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$1,566,715

Highland Park, TX HOME PRICES

> $1,124,000
$843,001 - $1,124,000
$562,001 - $843,000
$449,001 - $562,000
$337,001 - $449,000
$225,001 - $337,000
$112,001 - $225,000
$56,001 - $112,000
$0 - $56,000
69.9%
69.9%
12.7%
12.7%
6.1%
6.1%
0.9%
0.9%
5.5%
5.5%
2.0%
2.0%
1.9%
1.9%
0.2%
0.2%
0.8%
0.8%
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:
3,398

Highland Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
165.07% 4.48%
6
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,473 / per month

Homeownership Rate

Owners
Renters
Vacant
84.0%
84.0%
16.0%
16.0%
13.5%
13.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
18.6%
18.6%
26.8%
26.8%
22.5%
22.5%
32.0%
32.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
79.0%
79.0%
5.5%
5.5%
2.7%
2.7%
12.8%
12.8%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
5.2%
5.2%
14.9%
14.9%
30.5%
30.5%
28.1%
28.1%
20.8%
20.8%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Highland Park

Zip Codes in Highland Park, TX