Choosing where to build is the first big decision, and it shapes everything after it: the lot, the design, the way you live day to day. Dallas gives you a lot to choose from. These five neighborhoods come up most often when clients start planning a custom home, and each one offers something different.
Preston Hollow
Preston Hollow is where Dallas gets its space. Big lots, mature trees, and long, quiet streets make it feel more like a country estate than a city address. You’ll find everything from traditional estates to mid-century ranches, and the lots give you room to build the home you actually want, not the one the lot allows. It’s close to some of the best-known private schools in the city, and it’s a short drive to the rest of Dallas.
North Dallas
North Dallas is less a single neighborhood than a collection of them. The draw is access. The Dallas North Tollway and Central Expressway put shopping, dining, and offices within minutes, and many pockets offer established streets with plenty of room to rebuild. If you want convenience without giving up a real yard, this is where to look.
University Park
University Park offers a small-town feel inside the city, with SMU, the shops at Snider Plaza, and Highland Park ISD. Lots here are more compact, so every square foot of the design has to earn its place. Smart layouts, strong outdoor living, and careful use of light make the difference. As its own city, University Park also has its own permitting and review process, which is one more reason to build with a team that knows the ground rules.
Russwood Acres
Russwood Acres is one of North Dallas’s best-kept secrets. Set between Walnut Hill and Forest Lane, it sits next to Strait Lane and Lobello Estates and is known for generous lots and late mid-century homes. Many of those homes are ready for a second act. For buyers who want a large lot, a private feel, and easy access to the Tollway, it’s a smart place to build.
Highland Park
Highland Park is one of the most established addresses in Dallas. The town has its own rhythm, with Highland Park Village, Highland Park ISD, and streets lined with mature trees. Homes here are built to fit a streetscape that has been refined over decades, so a new build has to feel like it has always belonged. Traditional and classic architecture sets the tone, and the details matter, from proportion and materials to how the home sits on the lot. Like University Park, it’s a separate municipality with its own permitting and review process, so it pays to build with a team that knows how it works. It’s exactly the kind of project we love.
Find Your Fit
Every neighborhood on this list has its own personality. At Nixon Custom Homes, we don’t build in neighborhoods we wouldn’t gladly live in ourselves. Below is a quick breakdown of each neighborhood and what you can expect.
| Neighborhood | Typical median sale price | Lot size | School district | Standout fact |
| Preston Hollow | Roughly $2.2M to $2.9M, depending on source and subarea | Sub-acre lots up to estates of 10+ acres | Dallas ISD or Highland Park ISD, depending on address | About 17 square miles made up of 43 separate neighborhoods |
| North Dallas | About $1.1M (three months ending May 2026) | Varies by pocket | Varies by address | Median price is more than double the citywide Dallas median of about $449K |
| University Park | About $2.5M, at roughly $730 per square foot | Much smaller than Preston Hollow lots | Highland Park ISD | About 23,000 residents, and homes averaged about 23 days on the market |
| Russwood Acres | About $1.85M over the last 12 months | Typically 0.5 to 1 acre | Dallas ISD public schools | About 200 homes, first built in 1961 |
| Highland Park | Roughly $3M to $4.1M, depending on source and month | About 0.20 to 0.75 acres | Highland Park ISD | About 8,800 residents, roughly 89% owner-occupied |
Sources: Redfin (North Dallas, Dallas, University Park market data, 2026); Homes.com (Russwood Acres); Movoto (Preston Hollow, Highland Park); The Agency Dallas (Preston Hollow lot sizes); Nitin Gupta, Competitive Edge Realty (Preston Hollow market guide, 2026); H. David Ballinger (Russwood Acres profile). Figures are approximate and reflect data available as of mid-2026.
New Construction Homes in Dallas, TX
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