There has never been a better time for those seeking to move into a vibrant central Dallas neighborhood. Many urban areas are experiencing strong revitalizations, and now is the time to get in on the action, before prices become too steep. The best strategy for potential homebuyers and incoming renters is, of course, to identify these neighborhoods soon after the revitalization begins, before prices rise too quickly. However, this is a tricky proposition. Experts recommend paying close attention to the real-estate market and knowing the area so you can spot these trends early. Another hint—keep an eye on areas surrounding newly revitalized neighborhoods, as these surrounding locations often experience a “halo effect” with economic growth of their own. Here are some up-and-coming Dallas neighborhoods to pay attention to.
Bishop Arts in Oak Cliff
In a 2013 article on revitalization, Bishop Arts was singled out by the Wall Street Journal as one of the hottest up-and-coming neighborhoods in the entire country. Two years later, this tiny neighborhood’s strong residential growth continues, confirming the WSJ’s prediction. As real estate investors hurry to get in on the action, personal homebuyers should consider this a perfect opportunity to get into the market as well. Likewise, renters should consider checking out the attractive loft apartments in the area. The neighborhood was originally developed as an industrial and commercial center in the 1920s. From the 1960s through the 1980s, it went into decline, but since the 1990s it has undergone a quiet revival. In recent decades, the neighborhood has been known primarily for its independent shops, unique boutiques, and creative dining options, and only in the last few years has its reputation grown as a promising residential area. Despite its growth, the close-knit community retains an attractive small-town vibe.
Farmers Market District
This neighborhood in the southeastern area of downtown Dallas is perfect for those who want to move into the very heart of the city. It’s named after the large, lively farmers market that provides a neighborhood center every weekend, offering locally-sourced produce, organic and artisanal treats, live music, and bustling crowds. Throughout the year, community events bring people together, such as live performances in the summer. As part of the area’s revitalization, a four-acre municipal park is in the works to bring a new greenspace to the neighborhood. Apartments and condos are plentiful, and the new townhouses going up will provide perfect starter homes. Amenities about within walking distance, and the commute cannot be beat.
Another option near the very center of Dallas is the Near East neighborhood. Tucked between Downtown and the Trinity River Greenbelt, Near East offers chic gastropubs, upscale bars, art galleries, and designer shopping at a surprisingly affordable price, considering its proximity to downtown. Despite the urban vibe, the Greenbelt offers a perfect option for nature lovers seeking a respite from the bustle of the city. Most housing comes in the form of upscale loft apartments and upmarket condos, but new luxury townhomes are beginning to appear as well.
While this East Dallas neighborhood has been slowly growing into its own over the last decade, recent revitalization has made it more attractive to a wide range of new residents, and real estate prices continue to climb. Convenient to the Central Expressway and Greenville Avenue, the neighborhood is only a fifteen-minute drive from Downtown, and the addition of the Mockingbird DART rail station makes it even more accessible. The recent expansion of the Katy Trail has added yet another attraction, with its walking and biking, plus many trendy shopping and dining options. And of course, don’t forget Ridgewood Park itself, a community park offering trails, picnic areas, and tennis and basketball courts. Ridgewood offers diverse housing options for every income level, from condos in the $110,00s up to million-dollar estates.
Kiestwood Estates is the perfect escape for those seeking a more laid-back feel. The neighborhood is only fifteen minutes from downtown Dallas, yet it boasts a vintage feel you won’t find in much of urban Dallas. The 1950s-1960s homes are surprisingly affordable, with a median price in the low $200,000s. For lovers of the outdoors, municipal Kiest Park offers a major attraction—176 acres of trails, outdoor and indoor sports facilities, garden spaces, and picnic areas. Yet if you’re craving urban entertainment and a vibrant nightlife, the Bishop Arts District and the entertainment destination of Trinity Groves are each only fifteen minutes away. For those seeking the best of both worlds—proximity to city life with affordability and a relaxed vibe—you can’t beat Kiestwood.