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Dallas, TXDallas ISD

Preston Hollow

Half-acre to multi-acre estate lots inside the Dallas city limits

Preston Hollow is North Dallas's estate neighborhood, roughly between Northwest Highway and Forest Lane along the Preston Road corridor, including Preston Hollow proper and Preston Hollow North. What defines it is not a clubhouse or a master plan but land: half-acre, one-acre, and multi-acre lots with mature tree canopy, gated motor courts, and deep setbacks, all inside the city limits and roughly 15–20 minutes from Downtown off-peak. Original 1940s–1960s ranches and Georgians sit next to scraped-and-rebuilt modern estates, and the market runs in tiers rather than a single band.

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Price Range

$1M – $10M+ (trophy estate tier well above that)

Property Types

Mid-century ranch, Traditional / Georgian, French Provincial, Modern and transitional new construction, Estate lots and land

Year Built

1940s–present (significant new construction on original lots)

HOA: No mandatory HOA in most of Preston Hollow (voluntary neighborhood associations)

Schools

Dallas ISD

ElemPreston Hollow Elementary (Gifted & Talented and IB programs; GreatSchools rates it average for Texas)
MiddleBenjamin Franklin International Exploratory Academy
HighHillcrest High School (4/10 on GreatSchools, below average for Texas; offers AP, IB, and Project Lead The Way)

Commute & Access

15–20 min to Downtown Dallas via the Dallas North Tollway · ~10 min to NorthPark and the Park Cities · ~15 min to UT Southwestern and the medical district · ~20 min to DFW Airport via 635 (approximate off-peak drive times)

Highlights

What makes Preston Hollow stand out

  • Half-acre to multi-acre lots: the rare Dallas address where you buy real land, not a yard
  • Mature tree canopy and deep setbacks on Preston Road's side streets
  • Private-school cluster close at hand: St. Mark's, Hockaday, and Episcopal School of Dallas in or adjacent to the neighborhood, Greenhill just north in Addison
  • No mandatory HOA across most of the neighborhood
  • Preston Royal and Preston Forest shopping; NorthPark Center about 10 minutes south
  • Active tear-down-and-rebuild market with strong land value for builders and renovators

Best Fit

Executive relocations and high-net-worth buyers who want acreage, privacy, and mature trees inside Dallas city limits rather than moving to the northern suburbs, typically pairing the home with a private school or a Dallas ISD magnet. It also draws builders and renovators buying for land value on original 1950s lots.

Nearby Amenities

  • Preston Royal and Preston Forest shopping centers
  • NorthPark Center (~10 min), one of the top-performing malls in the U.S.
  • Northaven Trail, a paved North Dallas hike-and-bike trail that now connects across Central to the Preston Ridge, White Rock Creek, and Cottonwood Creek trails
  • Preston Hollow Country Club, and Brookhaven Country Club a short drive northwest
  • St. Mark's School of Texas, The Hockaday School, Episcopal School of Dallas, and Greenhill (Addison)

Major Employers Nearby

  • UT Southwestern Medical Center and the Dallas medical district (~15 min)
  • Downtown Dallas business district (15–20 min via DNT)
  • Uptown / Turtle Creek offices
  • Legacy West and the Plano corporate corridor (20–25 min north on the DNT)
  • DFW International Airport (~20 min via 635)

Preston Hollow: Frequently Asked Questions

What do homes in Preston Hollow actually cost?
It depends entirely on the tier, which is why published medians disagree so sharply. Redfin reported a median sale price of about $2.2M in February 2026, up 15.6% year over year; Movoto's listing-based median for the same month was about $1.44M. Neither is wrong; they weight the tiers differently, and a handful of estate sales can swing a monthly median by seven figures. In practice the market runs in bands: standard sub-acre homes, which are the bulk of transactions; estate-tier properties on roughly one to three acres; and a thin trophy tier on larger parcels that trades far above the rest. Tell me which tier you are shopping and I will pull live comps for that band rather than a neighborhood-wide average that describes nobody's house.
What are the schools like in Preston Hollow?
This is the honest sticking point, and you should hear it from me before you hear it from a listing agent. Preston Hollow is a luxury address inside a mixed-rated Dallas ISD feeder pattern: Preston Hollow Elementary, which offers Gifted & Talented and International Baccalaureate programs and is rated average for Texas by GreatSchools, feeds to Benjamin Franklin International Exploratory Academy (the former Benjamin Franklin Middle School) and then Hillcrest High School, which offers AP, IB, and Project Lead The Way but rates 4/10 on GreatSchools, below average for Texas. A large share of families here use private schools (St. Mark's, Hockaday, and the Episcopal School of Dallas are in or next to the neighborhood, and Greenhill is just north in Addison) or compete for Dallas ISD magnets. If public school ratings are your first priority, Preston Hollow is a real trade-off and we should talk about it directly. Always confirm your assignment by address with Dallas ISD.
Why are the lots so much bigger than the rest of Dallas?
Preston Hollow was developed largely in the 1940s through the 1960s as a low-density enclave along the Preston Road corridor, and the original platting has largely survived. That is the whole value proposition: half-acre to multi-acre parcels with mature trees, inside the city, roughly 15–20 minutes from Downtown on the Dallas North Tollway. It is why so much of the current activity is tear-down-and-rebuild: buyers are purchasing the land and the location, then putting a new modern or transitional home on it.
Is there an HOA in Preston Hollow?
There is no mandatory HOA across most of Preston Hollow. Several sub-areas, including Preston Hollow North, have voluntary neighborhood associations that handle security patrols, advocacy, and social events, but dues are optional and they do not control your exterior the way a master-planned association would. Confirm the specifics for any individual property before you write an offer.
Can I tear down and rebuild, or renovate the exterior, on my Preston Hollow lot?
Usually yes. The neighborhood has seen heavy tear-down-and-rebuild activity from the 2000s to today, but never assume it for a specific address. Parts of Dallas fall inside historic or conservation district overlays that regulate demolition and exterior changes, and city zoning, setback, and tree rules apply regardless. Check the City of Dallas Historic Preservation page and confirm the status of your exact parcel before you budget a rebuild or a facade change: https://dallascityhall.com/departments/sustainabledevelopment/historicpreservation/Pages/default.aspx
How is the commute from Preston Hollow?
Strong in every direction, which is a large part of the appeal for executive buyers. Expect roughly 15–20 minutes to Downtown Dallas on the Dallas North Tollway, about 10 minutes to NorthPark and the Park Cities, around 15 minutes to UT Southwestern and the medical district, about 20 minutes to DFW Airport via 635, and 20–25 minutes north on the DNT to Legacy West and the Plano corporate corridor. These are approximate off-peak drive times; rush hour on the DNT and 635 will add to them.

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