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Dallas is a vibrant, inviting city with a little bit of something for everyone. A strong economy, world-class sports, a dynamic arts scene, and top-of-the-line schools are all contributing to its ascent. While it’s primarily known for being the home base for the Dallas Cowboys, the ninth-largest city in the United States offers a culture far beyond football alone: famous museums (Perot Museum and the Dallas Museum of Art – to name a couple) and jaw-dropping skyscrapers (Chase Tower and Bank of America Plaza).
Additionally, Dallas is no stranger to the affluent. It’s home to many high net-worth individuals: millionaires, ultramillionaires (individuals with net worths of over $30m+), and billionaires. In fact, according to WealthInsight, with 18 billionaires residing in the area, Dallas ranks as one of the top cities in the world for the most billionaires.
Other studies are showing a steady uptick in the number of high net-worth individuals flocking to the Dallas-Fort Worth area. There has been a 3% year-over-year increase from 2021 to 2022.
So, where are they all living? In this article, we present the 6 Richest Neighborhoods in Dallas, Texas.
A Brief Overview: Dallas and Its Neighborhoods
With mouth-watering southern cuisines, luxury high-rises, blissful weather, and major investments from Fortune 500 companies, Dallas is taking off. It’s not just the super-rich who are moving there, either: The population has been steadily increasing by 1.5% per year over the past few years. It’s earned its spot as one of the fastest growing metro areas in the United States.
With the Dallas Arts District featuring world-class museums, the Sixth Floor Museum at Dealey Plaza, and the Dallas Arboretum and Botanical Garden, visitors and citizens alike have plenty to do downtown.
Despite all that it has to offer, the cost of living in Dallas is roughly in line with the national average. Its strong population growth and booming economy make it one of the most desirable places to settle down in the US.
The Six Most Expensive Neighborhoods in Dallas
Highland Park regularly ranks as the richest neighborhood in Dallas – and for good reason. Highland Park is an affluent and picturesque residential neighborhood approximately 3 miles north of the center of Dallas, so downtown is always in close proximity. It’s home to a remarkable assortment of luxury residences, spanning a variety of styles (primarily Mediterranean, Colonial, Georgian, and Tudors) built in the early 20th century – with no shortage of modern amenities and updates.
Its close proximity to popular attractions like the Dallas Arts District and its top-rated schools further contribute to the area’s desirability, making Highland Park a sought-after enclave known for its beauty, sophistication, and exclusivity.
Once ranking as the wealthiest location in Texas by per capita income, Westover Hills still ranks as one of the richest neighborhoods in Dallas today.
Westover Hills is an upscale residential community with about ~270 homes, situated in the western part of Fort Worth, Texas. Notable for its expansive estates, spacious lots, and luxurious homes, Westover Hills is characterized by its elegance. Westover Hills is home to The Tandy House, the last residential project of famous architect I.M. Pei, the mastermind behind The Louvre and The Rock and Roll Hall of Fame – among other notable architectural masterpieces.
Popular recreational destinations include Trinity Park, which offers a “Trinity Skyline Trail,” that has a great view of downtown Dallas – and popular restaurants include Olivella’s Pizza & Wine and Lucile’s.
University Park is a well-established residential community situated just north of Highland Park. Primarily known for its close proximity to Southern Methodist University (SMU), the neighborhood offers a blend of upscale living and academic influence.
Plenty of sandwich shops, cafes, and fast-casual restaurants line the streets in and around Snider Plaza, which is just west of Southern Methodist. Amore Italian Bistro and Penne Pomodoro are among residents’ favorites.
With the Meadows Museum and the McFarlin Auditorium to top it off, there’s no shortage of things to do.
Bluffview is an upscale, scenic neighborhood located in the northwestern part of Dallas. Bluffivew sits a bit further north than University Park and Highland Park but is still within a 10-minute drive to Dallas Love Field Airport.
True to its name, Bluffview was founded on a dairy bluff. Early citizens of the community made a conscious effort to protect the neighborhood’s gorgeous trees, creating irregularly-shaped lots compared to many of the rectangular lots we see today. Additionally, due to its raised topography, some exclusive homes in Bluffview still offer scenic views of the 60-foot rock bluff.
Russwood Acres is an affluent residential community developed in 1962 by Harold Clark and Bill Smith. From the very beginning, the minimum lot size was established at half an acre and the minimum home was 3,400 square feet. Today, the average home in Russwood Acres is about 5,000 square feet. With no through streets, residents say that “you get a gated feel without the gates” and home styles are primarily pier-and-beam 1960’s Ranches, perfect for when your knees just can’t take the stairs anymore.
Russwood Acres offers a quiet retreat within the city. The neighborhood is characterized by large estate-style homes on spacious lots, which all contribute to a sense of privacy and exclusivity. It’s a go-to destination for those looking for a quieter place to settle down, but still close enough to the action of the city for anything you might desire.
Lakewood is a historic and vibrant neighborhood located in the eastern part of Dallas, Texas. Less than fifteen minutes from downtown Dallas, Lakewood overlooks the jaw-dropping White Rock Lake, an 1,254 acre lake that was formed by damming White Rock Creek. Since it takes over two and half hours to walk around the perimeter, the lake offers biking and hiking opportunities galore. Lakewood is a great option for those who want an outdoorsy, suburban feel with all of the amenities of the city.
Tudor, Colonial, Spanish and French Eclectic are common home styles in the area, but with some new constructions popping up, there are a variety of styles available for would-be homeowners.
There you have it – The Richest Neighborhoods in Dallas
If you’re thinking about moving to Dallas, this short guide can help you better prepare with some of the richest, most affluent neighborhoods in the area. From the bustling Highland Park (located just a few miles north of downtown) to serene and private Russwood Acres, there are neighborhoods in Dallas that can offer residents everything they could hope for. Delicious, delectable cuisine, great football, and a thriving arts scene are just the beginning of the list.
Dallas is a great place to live – and it isn’t expected to slow down anytime soon.