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University Park, Texas

The Park Cities.

Living in University Park, Texas

University Park pairs Highland Park ISD with a combined tax rate near 1.59%, one of the lowest totals in Dallas County.

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The read

Why University Park

Dallas County

University Park is the larger of the two Park Cities, a 25,323-resident city (July 2025 Census estimate) surrounded by Dallas and home to SMU and the George W. Bush Presidential Center. Zillow's typical home value reached about $2.47 million in September 2026, up 8.7% over the year, and the Census Bureau puts the median owner-occupied home at $1,861,800. In October 2026, HAR showed homes for sale averaging $3.40 million at about $702 per square foot.

The lesson that matters most at this price is that the seller's tax bill is not your tax bill. Texas caps a homestead's taxable value increase at 10% a year, but the Dallas County Tax Office notes that the cap is removed when the property sells, so a buyer is taxed on full market value. On a $2 million purchase at about 1.59% combined, budget roughly $31,700 a year before exemptions, no matter what the listing's tax history shows.

Around town

Life in University Park

Dallas Hall and its fountain on the Southern Methodist University campus in University Park, Texas
Dallas Hall at SMU
Pond with a fountain under tall pines at Caruth Park in University Park, Texas
Caruth Park
University Park City Hall beside the stone banks of Turtle Creek in University Park, Texas
University Park City Hall
Shaded lawns and mature trees at Curtis Park in University Park, Texas
Curtis Park

Photos via Wikimedia Commons. Dallas Hall at SMU: Carol M. Highsmith, Public domain · Caruth Park: Michael Barera, CC BY-SA 4.0 · University Park City Hall: Michael Barera, CC BY-SA 4.0 · Curtis Park: Michael Barera, CC BY-SA 4.0

Market snapshot

The numbers

$2.47M[1]
Typical home value
Sep 2026, up 8.7% year over year
$3.40M[2]
Average list price
Oct 2026, about $702 per sq ft
$1.86M[3]
Median owner-occupied value
Census ACS 2020-2024
1.59%[4]
Combined tax rate
Tax year 2025, HPISD address
25,323[3]
Population
July 2025 Census estimate
90.8%[3]
Adults with a bachelor's degree
Census ACS 2020-2024
Living here

Schools, taxes, commute

Schools

University Park is served by Highland Park ISD, which reports more than 6,150 students on eight campuses: five elementary schools (Pre-K to 4), McCulloch Intermediate, Highland Park Middle School and Highland Park High School. A small area west of North Central Expressway falls in Dallas ISD, but it is not zoned residential. HPISD trustees cut the district's tax rate again for 2026-27, to $0.8128 per $100.

Highland Park ISD
Property taxes

For tax year 2025, the city rate is $0.218565 per $100, Highland Park ISD is $0.8347 and Dallas County's county, Parkland Hospital and Dallas College rates add $0.534075, for about 1.59% combined. On a $2 million home that is roughly $31,700 a year, or about $2,650 a month, before exemptions. The state's $140,000 school homestead exemption and the city's 20% homestead exemption together trim about $2,000 a year at that price, so file your homestead the year you move in.

Commute
Downtown DallasUS-75 (Central Expressway) or Dallas North Tollway, approximate off-peak10-15 min
DFW AirportNorthwest Highway and TX-114, approximate off-peak20-25 min
Legacy West, PlanoDallas North Tollway, approximate off-peak25-30 min
On the map

Where University Park sits

Drive times, schools and shopping around it. Ask me for a tour of the area.

Open in Google Maps →

What is coming

Being built now

Lower HPISD tax rate

On August 18, 2026, HPISD trustees adopted a 2026-27 rate of $0.8128 per $100, down from $0.8347, which the district says is a 32.4% reduction since 2017-18.[5]

2024 bond projects wrapping up

HPISD's 2024 bond projects were reported 90% complete over the summer of 2026.[5]

Preservation push on historic homes

Preservation Park Cities has been building a list of the most historically significant Park Cities homes since 2021, with most new additions expected from University Park. The board has discussed drafting local ordinances with more enforcement power.[6]

Neighborhoods

Where to look in University Park

SMU and Bush Center areaSouthern Methodist University sits inside the city, and the George W. Bush Presidential Center opened on the SMU campus in 2013.
Snider PlazaUniversity Park's long-running neighborhood shopping district near SMU.
Preston Center edgeThe University Park public library is on the second floor of Preston Center Plaza, at the city's northwest edge.
Preston Hollow (Dallas)The City of Dallas neighborhood just north of University Park; city of Dallas tax rates apply (about 2.23% combined for Dallas ISD addresses in tax year 2025).Explore →Volk EstatesA 41 acre estate enclave in University Park, laid out in the late 1920s where Turtle Creek forks, inside Highland Park ISD.Explore →
Your first month

Settling in to University Park

Electricity

University Park is in Oncor's delivery area, so Oncor maintains the lines and you choose your own retail electric provider. Compare plans for your ZIP code on the state's official Power to Choose site before move-in day.[14]

Water and trash

The City of University Park bills water and runs its own sanitation and recycling service. Start or transfer service through the city's Utility Services page, or call the city at 214-363-1644.[15]

Homestead exemption

File Form 50-114 with the Dallas Central Appraisal District, online or by mail. DCAD notes filing is free, so there is no need to pay a company; the standard deadline is April 30 of the tax year. University Park also gives a 20% city homestead exemption once it is approved.[17]

Schools

Enroll through Highland Park ISD's enrollment page, which covers new-student registration and proof of residency. Call the district at 214-780-3000 to confirm the zoned elementary campus for your address.[19]

Car registration and license

Register your vehicle with the Dallas County Tax Office within 30 days of moving, after a passing emissions inspection (required in Dallas County). You can drive on a valid out-of-state license for up to 90 days; book your Texas license visit with DPS early, since offices work by appointment.[20]

From Albert

Before you buy or sell

Buying here

Budget taxes on your purchase price, not the seller's bill: the 10% homestead cap is removed when a property sells. On a $2 million home at about 1.59%, plan for roughly $2,650 a month before exemptions. If you are considering a teardown, get a survey and confirm setbacks and city permit requirements before you price the rebuild.

Selling here

In University Park the land often carries most of the value, so price your home against recent sales with a similar lot size and location, not just similar square footage. Before you spend on a remodel, ask whether your likely buyer is keeping the house or replacing it; if it is a builder or a rebuild buyer, a $150,000 kitchen will not come back to you. Clean, documented maintenance (roof, foundation, HVAC) helps both kinds of buyer.

Albert Angarita, REALTOR
Reviews

See what clients say.

Read reviews from buyers, sellers and renters on Google, then ask me anything. I answer the same day, in English or Spanish.

FAQ

Questions people ask about University Park

Is University Park a good place to live?
University Park has 25,323 residents (July 2025 estimate), Highland Park ISD schools, SMU inside city limits and a mean commute of 17.3 minutes, per the Census Bureau. It is also expensive, with Zillow's typical home value around $2.47 million in September 2026. If schools and a short drive to downtown Dallas top your list, it belongs on it; just plan your budget around land prices.
What school district is University Park in?
University Park is served by Highland Park ISD. A small area west of North Central Expressway is in Dallas ISD, but it is not zoned residential. HPISD reports more than 6,150 students on eight campuses. Still confirm the elementary campus for a specific address with the district.
What are property taxes in University Park?
For tax year 2025 the combined rate for a typical home is about 1.59% (city, HPISD and Dallas County entities). That is about $31,700 a year on a $2 million home before exemptions. Remember the 10% homestead cap resets when a home sells, so your bill will be based on your purchase value.
Why are so many older homes torn down in the Park Cities?
As People Newspapers reported, preservation advocates have said lot values have been rising while older house values fall, so buyers often pay mainly for the land. University Park also has no rule limiting which homes may be demolished once inspection requirements are met. If you love an older home, ask whether it is on the Preservation Park Cities list, and if you are selling one, price it with land value in mind.
How long does it take to sell a home in University Park?
Zillow did not report a median days-to-pending figure for University Park in its latest data, and HAR showed 68 homes for sale in October 2026. At this price range, timing depends heavily on pricing against recent closed sales with comparable lots. Get a pricing plan built from closed sales, not list prices, before you go live.
Working with Albert

Your realtor in University Park

Buying or selling in University Park means knowing more than the city average. Homes here can fall in Highland Park ISD; combined 2025 tax rates run about 1.59% to 1.59% depending on the address, and communities like SMU and Bush Center area, Snider Plaza, Preston Center edge and Preston Hollow (Dallas) each behave like their own market.

As your University Park realtor I verify the school zoning, the full tax rate and any HOA, MUD or PID for every home before you write an offer, and I bring more than ten years of construction and remodeling experience to every inspection and pricing decision. I work from Formation at The Star in Frisco and help clients in English and Spanish.

Buying  /  Selling  /  What is my home worth?

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Nearby
Sources
  1. Zillow Research, Home Value Index (ZHVI) city data, University Park TX, 2026-10
  2. HAR.com, University Park TX market overview, 2026-10
  3. U.S. Census Bureau QuickFacts, University Park city, Texas, 2026-10
  4. Dallas County Tax Office, 2025 tax rates, 2026-10
  5. People Newspapers, HPISD Trustees OK 2026-2027 Tax Rate (Aug 2026), 2026-10
  6. People Newspapers, Demolition of 1929 House Bolsters Call for Regulations (Oct 2023), 2026-10
  7. Highland Park ISD, district overview, 2026-10
  8. Dallas County Tax Office, Questions regarding a homestead cap, 2026-10
  9. Texas Comptroller, Property tax exemptions, 2026-10
  10. City of University Park, Tax Information (homestead exemption), 2026-10
  11. People Newspapers, Appetite for Destruction (Feb 2017), 2026-10
  12. Wikipedia, University Park, Texas (SMU, Bush Center, school zoning), 2026-10
  13. Republic Title, 2025 DFW Area Tax Rates, 2026-10
  14. Public Utility Commission of Texas, Power to Choose (Oncor delivery area, retail providers by ZIP), 2026-10
  15. City of University Park, Utility Services, 2026-10
  16. City of University Park, Sanitation and Recycling, 2026-10
  17. Dallas Central Appraisal District, homestead exemption filing is free, 2026-10
  18. Texas Comptroller, Form 50-114 Residence Homestead Exemption Application, 2026-10
  19. Highland Park ISD, Enrollment, 2026-10
  20. Texas DMV, New to Texas (30 days to register, emissions inspection), 2026-10
  21. Dallas County Tax Office, 2026-10
  22. Texas DPS, Moving to Texas (driver license), 2026-10

Figures change. Verify school zoning, tax rates and HOA or MUD fees for any specific address before you buy. Albert does this on every home he shows.

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