Property value in many areas of Dallas will continue to rise no matter what the economic climate in the rest of the country. For more information on the value of property in University Park, Texas, read on.
According to demographics posted on the official University Park, Texas website, the average home value in University Park is $1,183,170, one of the highest in the state of Texas. Contact Mathews Nichols Real Estate Group today to learn more about property value in Dallas.
While the primary tax revenue is a property tax, this is relatively low, at just over two and a half cents per one hundred dollars in taxable property. That means that, even as property values in the area continue to rise, the city taxation on that property has consistently been low. Even so, with almost six billion dollars of taxable property in the city, University Park operates on a budget that allows plenty of room for city services.
The value of property in University Park is a good reason to buy a home in the area, but below are several more.
Steady population
Since the 1940’s, the population of University Park has remained stable at around 22,000 people. Surrounded by Dallas ad Highland Park, the area of the city won’t grow very much either. This stability suggests that the area is, and will remain, one of the most desirable neighborhoods in which to own property in Dallas.
Education opportunities
Home to Southern Methodist University, University Park is also serviced by the renowned Highland Park Independent School District, a system known for being one of the best in the state. Families often seek out property in University Park simply to take advantage of the excellent public school system. This is another good reason to feel confident in the steady value of property in the neighborhood.
Parks and Recreation
Sixty acres of city land are set aside for unstructured recreation, spread throughout eight major parks within the city. These public recreational areas are maintained and developed by the city for the benefit of all University Park residents. The value of property near public parks are generally much higher than those that are not, and will remain so for the foreseeable future.
Home diversity
With about 8,600 homes within the city limits, the city has a unique population that reflects many different tastes and styles. From contemporary to traditional, homes are available in every shape and size in this charming community.
Low crime
The city maintains one of the lowest crime rates in the country thanks to the security-minded residents and the vigilant independent public safety officers provided by the city. Property value in areas that are noted as low in crime remains at the top of the charts.
About Mathews Nichols
Specializing in Dallas’ most prestigious neighborhoods including University Park, Mathews Nichols Real Estate Group is an affiliate of Allie Beth Allman & Associates.
For more information, or to see listings of University Park homes and information on property value, visit the Mathews Nichols website today, or call at 214-350-0711.
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