Home prices rose faster in DFW’s suburbs than in its core during pandemic housing boom - Dallas Business Journal

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The Covid-19 pandemic triggered a dramatic and unexpected run-up in home prices nationwide, and Dallas-Fort Worth followed suit. But the pandemic housing boom’s impact on prices within North Texas hasn’t been equal.

The Covid-19 pandemic ignited a dramatic and unexpected run-up in home prices nationwide, and Dallas-Fort Worth followed suit. Home prices in outlying northern suburbs including Prosper, Celina, Frisco and McKinney soared notably higher in the wake of the pandemic than prices in the mainstay cities of Dallas, Fort Worth, Irving and Arlington.

An outbreak of measles had swept 30 U.S. states, but the first reported cases of Covid-19 in China didn't emerge until late-December 2019. Median home values grew 77% in Prosper’s 75078 ZIP code, 75% in Celina’s 75009, 70% in Frisco’s 75033 postal zone, and 70% in both the 75071 and 75072 ZIP codes of McKinney.

Dallas’ highest-performing ZIP code, 75249, rose a comparatively modest 55% in the three-year Covid-impacted period, while its 75233, 75252 and 75287 zones increased 52%, 51% and 50%, respectively. In Arlington, the geographical equivalent to the hyphen in Dallas-Fort Worth and the metro area’s third most populous city, median home values rose 59% in the 76018 ZIP, and no higher than 56% elsewhere in the city.

Using that metric, the top three ZIP codes are the same as they ever were in North Texas: Highland Park’s 75205, University Park’s 75225, and Southlake’s 76092.

 

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