University Park is the second municipality of the Park Cities. It surrounds Southern Methodist University (SMU), shares Highland Park ISD with neighboring Highland Park, and offers entry to the Park Cities luxury market at a lower price point than Highland Park itself.
This 2026 report covers what is happening across University Park’s residential market — pricing dynamics, inventory patterns, the role of the SMU campus, and how University Park functions as a structural complement to Highland Park within the broader Park Cities market.
What University Park Is
University Park is an independent municipality of approximately 25,000 residents, occupying roughly 3.7 square miles between Lovers Lane (south), Northwest Highway (north), Hillcrest Avenue (east), and Inwood Road (west). The town is home to Southern Methodist University, one of the most established private universities in the South.
Like Highland Park, University Park is independently governed, with its own town hall, police force, and municipal services. Together, the two towns form the Park Cities — and together they share Highland Park ISD, the #1-ranked public school district in Texas.
Architecturally, University Park is more varied than Highland Park. The housing stock spans from 1920s and 1930s originals near campus, through mid-century homes throughout the residential core, to contemporary new builds in pockets across the town. This architectural diversity makes University Park’s market more layered than Highland Park’s — and creates broader entry points for buyers.
2026 Pricing
The University Park median home price sits at approximately $2.2 million as of early 2026, with combined University Park / Highland Park median pricing around $2.25 million. Properties range from modest sub-$1 million homes to estate properties exceeding $10 million.
University Park typically prices 25 to 40 percent below comparable Highland Park properties — even though both towns share the same school district. This price differential reflects three structural factors:
Lot sizes. Highland Park has more multi-acre estate lots; University Park is more uniformly comprised of standard residential lots.
Architectural prestige. Highland Park has more original-period architecture and a more uniform historic streetscape.
Address premium. “Highland Park” carries a stronger cachet than “University Park” in luxury real estate marketing, particularly for international buyers.
For value-seeking buyers, this is the structural opportunity University Park offers: identical school district, comparable amenities, materially lower entry pricing.
Why University Park Often Wins for Families
University Park is, for many families with school-age children, a more practical choice than Highland Park. The reasons are operational, not aspirational:
Walkability to schools. Multiple elementary schools sit within walking distance of most University Park neighborhoods. For families with younger children, this is a meaningful daily-life advantage.
SMU campus proximity. For families connected to SMU — alumni, faculty, donors — University Park offers immediate proximity that Highland Park does not.
Park system. Caruth Park, Burleson Park, and Williams Park are among the most-used neighborhood parks in Dallas. The University Park parks system is more accessible and family-oriented than Highland Park’s.
Entry pricing. A University Park home in the $1.5 million to $2.5 million range opens HPISD access for families who would be priced out of comparable Highland Park inventory.
For families, University Park frequently represents the better mathematical decision. For status-driven buyers, Highland Park frequently represents the better address.
The Architectural Patterns of University Park
University Park’s housing stock falls into four broad categories:
Pre-war originals. Homes from the 1920s and 1930s, often in the Tudor, Mediterranean, or Colonial revival style. Concentrated near the SMU campus and along streets like Hillcrest, Westchester, and Southwestern. Restored examples command premiums.
Mid-century homes. The largest segment of University Park inventory. These homes were built from roughly 1945 through the 1970s and range from architecturally significant to modest. Pricing depends heavily on condition, lot value, and renovation history.
Contemporary teardowns and rebuilds. University Park has seen substantial teardown activity over the past 15 years. New construction in University Park typically targets the $3 million to $7 million range and reflects contemporary luxury design standards.
Estate properties. A smaller category than Highland Park’s estate tier, but University Park does include some larger estate properties, particularly along Hillcrest Avenue and Preston Road frontage.
The 2026 University Park Buyer
University Park buyers in 2026 fall into roughly three patterns:
Families seeking HPISD access at lower entry pricing. This is the largest segment, particularly for first-time Park Cities buyers.
SMU-affiliated buyers. Alumni, faculty, donors, and university administrators. SMU’s presence creates a steady, multigenerational base of University Park demand.
Relocating professionals. Particularly executives and senior managers relocating to Dallas who want Park Cities access without Highland Park pricing. This segment has grown over the past three to five years.
Selling University Park in 2026
The University Park market has, like Highland Park, normalized from the frenzied 2021 to 2023 period. Days on market run roughly comparable to Highland Park — 45 to 60 days for properties priced correctly.
University Park sellers in 2026 should focus on three priorities:
Highlight the lifestyle advantage. University Park is, for many buyers, the better practical choice. Marketing should lean into the walkability, parks, and family-oriented infrastructure rather than competing directly on prestige with Highland Park.
Be honest about condition. University Park’s broader architectural diversity means comparable square footage can vary widely in actual value. A renovated 1960 home and an unrenovated 1960 home of the same size are not equivalent. Marketing and pricing should reflect actual condition, not aspirational comps.
Pre-market through agent networks. A significant share of University Park transactions move through Park Cities agent networks before ever appearing on the MLS. Sellers benefit from listing agents who have those networks built.
Buying University Park in 2026
For buyers, University Park offers the best HPISD entry pricing in the Park Cities. The strongest 2026 buyer opportunities are:
Renovated mid-century homes. A well-renovated 1960s or 1970s University Park home, properly priced, often outperforms a new build over a 5- to 10-year hold.
Pre-war originals in the SMU-area neighborhoods. Architectural depth at relative value.
Estate-tier properties on Hillcrest or Preston frontage. Larger University Park properties trade at meaningful discounts to comparable Highland Park properties.
Working with The Agency Dallas in University Park
The Agency Dallas serves University Park alongside Highland Park, Preston Hollow, and the greater North Dallas luxury market. With fewer than 54 agents and over $1 billion in closed volume in three years, the office operates at the highest per-agent productivity of any major Dallas luxury brokerage — meaning University Park sellers and buyers receive concentrated attention from a small team rather than competing for resources at a 1,500-agent firm.
For University Park sellers, this translates to dedicated marketing strategy, access to The Agency’s 165+ global offices for buyer reach, and direct involvement from a producing Broker/Owner.
For University Park buyers, it translates to honest market guidance, off-market access, and a long view of the Park Cities market shaped by more than two decades of transactions.
Damon Williamson is the Broker/Owner of The Agency Dallas, the #1 Real Estate Agent in Highland Park by RealTrends Verified (2025), and a D Magazine Best Real Estate Agent every consecutive year from 2010 through 2025.
