Are you planning to relocate to the Dallas neighborhood? Want to know what are the best parts of Dallas to live in? In this article, we’ll guide you about the top 3 best Dallas Texas neighborhoods to move to and plus points of each area. So, read till the end to choose the location that will perfectly match your living standards.
Introduction to Top 3 Best Dallas Texas Neighborhoods
If you do not like to relocate to the Dallas suburbs, there are the top three neighborhoods in Dallas within the city limit where you would find all urban amenities. Moving to Dallas means more chances of finding a decent job than in other cities. There are several corporate headquarters of Fortune 500 companies where young professionals can easily find job opportunities worth matching their skills.
The cost of living in Dallas might be 2% higher than the national average, but it’s the most affordable place compared to other metro cities. So leaving all additional information aside, let’s dive right into discussing the details of top neighborhoods in Dallas.
M Streets & Lakewood
M Streets & Lakewood are two different Dallas neighborhoods making up part of Lower Greenville Old East Dallas area.
You’ll get a walkable neighborhood, parks, and nice but expensive homes if you wish to relocate here. It’s a mature Dallas neighborhood with a combination of old small houses built in the 1920s and large modern homes built in the current century.
Looking at the map, you’ll find that M Streets & Lakewood goes to 75 East Highway, which connects with White Rock Lake. From there, it goes straight to La Vista or Henderson Avenue North to Mockingbird.
M Streets & Lakewood are the oldest Dallas areas bordering White Rock Lake, a thousand-acre lake located in the middle of the city. The lake is situated about five miles from Downtown Dallas.
Outdoor recreation opportunities
This is the perfect neighborhood to relocate to if you are outdoorsy. The best part about it is the opportunity for outdoor activities.
A nine-mile-long trail around the lake connects with the 160-mile urban trail network. The paved trails are probably, one of the best places for cycling and jogging. The White Rock Lake Park is a local favorite, if not the most popular park in Dallas.
The lower Greenville Avenue has three to four small commercial areas providing entertainment for city dwellers. There are numerous coffee shops, bars, and restaurants only a short walk away offering live music and exotic cuisine. You won’t have to face the trouble of parking also.
If you are one of those nature lovers and people with artistic flair, M streets and Lakewood are the best places to relocate. You’ll have close access to the Prairie Creek Park in Canyon Creek South, the Northeast Dallas area, and arts centers in nearby neighborhoods in Dallas.
Great education opportunities
What binds these neighborhoods in Dallas is the combination of natural beauty and access to the urban amenities in the city center. They also have the best public schools in the Dallas ISD.
Living in Lakewood & M streets, you’ll also have access to the Southern methodist university in Unversity Park, which is just a 6-8 minutes drive via Mockingbird Lane.
Housing options in M Streets
In the M Streets & Lakewood, you’ll get many choices as far as home styles are considered. You’ll find everything from remodeled traditional craftsman bungalows to tear-downs, modern and trendy builds. Many houses you’ll see tie into the style of this neighborhood, depending on their street location.
The median home value in M Streets is around $700,000 for houses spreading at 6-7 acres. Older homes built in the 1920s and 30s are typically spread over 1500 to 2000 square feet and consist of two to three bedrooms. The old houses that are remodeled are available at an average price of $570,000.
Modern and newly built homes in this Dallas neighborhood are built around 3200 square feet and consist of four bedrooms and three bathrooms. The median home value for new homes falls around $975,000.
Housing options in Lakewood
Housing in Lakewood is expensive, and you’ll also see that they are bigger than in M Streets. The average house in Lakewood is spread at 1/3 acres, and the median home value is around $1.2 million. 64.1% of houses are detached and single-family homes.
Older existing houses built in the 1940s and 50s typically consist of three bedrooms and two bathrooms covering 2800 square feet. The average price for these homes is about $1 million.
Several existing houses were torn down over the pace of two years, and now they stand at 4400 square feet with four to five-bedroom and three to four bathrooms. The average price for a remodeled house lies at $1.75 million.
Preston Hollow & Midway Hollow
The next best neighborhood in Dallas, Preston Hollow and Midway Hollow, are two neighborhoods, but their proximity makes them turn into one distinct area.
Preston Hollow is bordered by the University Park city on the South. It has a dense suburban feel but is still one of the best luxurious places to live in Dallas, Texas. Also, the residents have access to the most prestigious private schools in Dallas.
If you look at the map Preston Hollow runs from Hillcrest Way to Midway, and from there, it goes straight to North West Highway Royal Lane on the North Dallas Tollway.
On the other hand, Midway Hollow runs from Midway West to Marshland, and from there, it goes to Northwest Highway and North Walnut Hill. Midway Hollow is also close to Preston Hollow, and the houses there enjoy the proximity to Highland Park and University Park cities. That’s where you’ll find homes of most CEOs, celebrity athletes, billionaires, and even a former US president.
Housing options in Preston Hollow
In Preston Hollow, you’ll find tons of houses in tens of billions of dollars. An average house covering a 6300 square feet area, including five bedrooms and three bathrooms, sits on 2/3 acres of total area. The median home value for such a home falls around $2.6 million.
Housing options in Midway Hollow
Houses in Midway Hollow mainly consist of ranch-style homes built in the 1950s, with an average house covering 1600 square feet of area. On average, these houses have three bedrooms and two bathrooms. Besides ranches, you’ll also find a combination of cottages, mid-century modern houses, and relatively new homes in Midway Hollow.
In the past few years people have realized the worth of this area. The demand to relocate to Midway Hollow has been great due to great schools and proximity to Highland and University Park cities. So, people swooped down there to tear away the old houses and construct new ones. The new construction has an average of 4000 square feet of the area, including four bedrooms and four bathrooms.
You’ll still find some old ranch styles homes priced at $550,000 but they are very little in number and surrounded by new houses selling for about $1.2 million.
From the price point of view, the housing in Midway Hollow is far more affordable than Preston Highlands neighborhoods or a University park home. Moreover, it is an excellent alternative to a grander lifestyle and close to nearby neighborhoods’ best attractions.
Best areas in Midway Hollow
Besides its proximity to Preston Hollow, this Northwest Dallas area has the one of the prestigious private schools with high standards of education. Most residents prefer to enroll their children in these schools rather than in Dallas public schools because of their questionable quality of education.
Preston Hollow and Midway Hollow are home to trendy eateries and family friendly restaurants. If you are a shopaholic, you’ll love the various shopping options offered by the village-like shopping centers.
If you are in the mood for more urban shopping, the renowned North Park Center is just 6 minutes away from Preston Hollow via Walnut Hill Lane. Living here, you’ll also have access to nearby attractions in Bishop Arts District and Deep Ellum, as both places are just around 15-20 minutes away via the Dallas North Tollway.
When it comes to cool neighborhoods in dallas, Uptown Dallas is always on the list. Uptown is an urban area with lots of high-end apartment complexes, condos, office spaces, restaurants, and bars. It is another great neighborhood in Dallas, Fort Worth, with an urban vibe and numerous shopping options.
Uptown has a combination of condos over retail centers, apartment complexes, and some grand-looking townhouses in the West Village area. Condos make up 75% of the housing options for sale in Uptown. Their pricing ranges between $200,00 and $500,000 for a two-bedroom flat-style condo.
You’ll find that location is excellent to move in. But also, keep in mind you’ll have to pay an HOA fee ranging from $300 to $1000 per month, depending on the building.
There are many lavish condos in Uptown whose price begins at $500,000 and goes up to millions. But the average price for condos in the market ranges between $200,000 to $500,000.
However, Uptown is also home to some townhouses, especially in the State Thomas area, which has a street vibe. The houses here mainly consist of three stories, with two to three bedrooms, and two and a half bathrooms. Prices of these townhouses mostly range between $500,00 to $900,000. So, if you are looking for a place located in the center of Uptown and close to retail stores with an urban vibe State Thomas will be your best bet.
If you are moving to the Big D with your family, Uptown has a carefree and low-maintenance lifestyle. It has a walkable area, parks where kids play, and tennis courts. If you are in a mood for some live music, then Oak Lawn is just a 3-minute drive from Uptown. You’ll find great karaoke bars and DJ-driven dancing clubs there.
The Round up saloon is also 4 minutes away from Uptown Dallas. With a huge dance floor, karaoke, western music, trivia, and drag shows, it’s one of the best clubs in the world.
Mckinney Avenue, which runs North of the Downton Dallas neighborhood, is just a 3-minute drive from Uptown. You’ll find it buzzing with nightlife, upscale restaurants, and bars. It also has a free trolley that runs up and down Mckinney.
The Uptown has its own West Village like the one in New York and kind of looks like that as well. It is home to mega shopping centers and fine dining restaurants.
It is also home to Katy trail, an old train track turned into three and a half-mile trail for running and cycling.
The trail runs along Uptown to connect to the more extensive Dallas trail network. Throw in the mix a Katy trail Ice House for a cold summer beer post-workout and watch the action on the trail from their outdoor beer garden.
Best areas in Uptown
Want to relocate to one of the best neighborhoods in Dallas? Contact us.
We hope you have read our rundown on the best neighborhoods in Dallas to relocate to.
Besides these three places, Dallas has many great neighborhoods, such as Bishop Arts District, Knox Henderson, Highland Park, Kessler, Lake Highlands, Deep Ellum, etc.
But by far, we find the best place to be M Streets & Lakewood because it pretty much fits every kind of lifestyle.
You’ll find affordable established homes, tree-lined streets, up-scale restaurants, bars, hiking and biking trails, parks, and a lake.
Also, you’ll be only two and four miles away from Downtown Dallas and other neighborhoods.
But if you are still hesitant to choose one of these places, you can contact us. We’ll help you figure out which place best suits your lifestyle and where you’ll be the most happiest.
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We are a team of realtors in Dallas, Texas, helping people worldwide to choose their dream place in Dallas and its surrounding areas.
Our main goal is to cover everything about Dallas, Texas. From discussing the pros and cons of the cost of living, new construction, and schools, we wish to showcase the area for your better understanding.