10 Reasons to Move To Highland Park, TX
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Highland Park is one of the smaller cities in the DFW area, with a population of just over 9,000, and it is also one of the most luxurious. This high-end area is full of beautiful outdoor spaces, top schools and a booming economy – it’s no wonder that it is becoming one of the most sought after places to live in Texas.
Moving To Highland Park
If you’re considering relocating to the Highland Park area, here are the top 10 things you need to know.
1. The Tax Rates
One of the great things about living in Texas is the low tax rates, and Highland Park is no exception. The fact that residents are exempt from income tax, coupled with the extremely low corporation tax rates are just two of the reasons why many big companies have decided to move their headquarters to Texas in recent years. The property tax in Highland Park is slightly above the national average, but in line with the overall cost of living.
2. The Housing Market
The median home cost in Highland Park is a staggering $1,000,000. While home appreciation in the last 10 years has been an impressive 7.3%, which means residents are sure to make a return on their investment if they decide to sell their property. When it comes to renting, the average monthly cost of rent in Highland Park is $2000. A little over the national average, but in line with Texas and the DFW area as a whole.
3. The Cost of Living
The average household income in Highland Park is extremely high at just under $193,000 a year, especially when compared to the national average of $53,482 a year. In line with this high average income, is the high cost of living which is a little over the state average, and almost double the national average.
4. The Climate
Like the rest of Texas, Highland Park is known for its sub-tropical climate. With an average of 229 sunny days a year, compared to the national average of 200, and only 2 inches of snow year, Highland Park is the perfect climate for those who love having the sun all year round.
5. The Economy and Job Market
While a little higher than other cities in Texas, Highland Park still has an unemployment rate lower than the national average at 3.7%. The job market has been steadily increasing over the last few years, with a 4% increase seen in 2019 alone. This growth is projected to continue over the next 10 years.
6. The Education System
The School District in Highland Park is extremely well renowned, with average yearly spend per student hitting $19,000, which is very high compared to the national average of $12,000. While there are no universities or colleges in Highland Park, the city is in close proximity to many others in the DFW area, including Southern Methodist University, UT Southwestern Medical Center, Dallas Baptist University, and University of North Texas, Dallas.
7. The Crime Rate
The crime rate in Highland Park is 15% lower than the state average. Impressively, the violent crime rate is 90% lower than the Texas advert, and 89% lower than the national average. Additionally, the property crime rate is 22% lower than the state average.
8. The Restaurants
No matter what food you’re in the mood for, you will find it in Highland Park Village. With a wide variety of top restaurants, including Patrizio’s (Italian) and Cafe Pacific (seafood), you’re sure to find something to satisfy your taste buds. Plus, Highland Park is home to Al Biernet’s, an iconic and world-famous restaurant.
9. The Shopping
As well as great restaurants, Highland Park Village is home to the oldest outdoor mall in America. Steeped in history, it is also one of the best shopping spots in the DFW area if you’re after luxury goods and high end designer labels. The luxury shops here attract hundreds of residents and tourists daily.
10. The Great Outdoors
One of the most appealing aspects of Highland Park (as its name may suggest) is its beautiful parks and manicured outdoor spaces. Complete with swan ponds, fountains, tennis courts and walking paths Lakeside Park is a favorite spot with locals, and also features an impressive and unique collection of granite teddy bears.