Longtime homeowners in the Kessler neighborhood of Dallas, ZIP code 75208, have seen their home values skyrocket 337 percent in the past 10 years — more than any other postal code area in North Texas.
Median home values in 75208 increased from $75,781 in 2010 to $331,408 today, according to a Dallas Business Journal analysis of single-family home data from Zillow Group Inc.
This edition of “Hottest 'Hoods in North Texas” shows the ZIP codes with the biggest percentage increase in home values over the past decade.
Click through this gallery to see the neighborhoods throughout North Texas where home values doubled or more than doubled in the past decade.
If, however, your home is in ZIP code 75039 in Irving, values have risen a relatively low 32 percent in the past decade. Median home values increased from $357,447 in 2010 to $472,897 today, making ZIP code 75039 one of the lowest percentage increases of the 295 ZIP codes analyzed across North Texas.
Smaller increases, of course, are good when it’s time to pay property taxes, but bad when it’s time to sell.
In general, our analysis showed a greater percentage home value appreciation in areas that started with more modest home values.
There are several reasons for this. One is a slowdown in demand for luxury homes here in the Dallas-Fort Worth area and in many other parts of the country. Another is that it’s mathematically easier to post more dramatic percentage gains in home prices when you’re starting with a lower median value.
In Highland Park’s 75205 ZIP code, for example, median home values rose 50 percent in the past decade, going from $798,896 in 2010 to $1,195,516 today. In neighboring University Park’s 75225 ZIP code, the median rose 51 percent, from $802,320 to $1,213,701 in the same period.
