Neighborhood Guide
Lakewood Real Estate Guide
By Natalie Hatchett, Compass
Lakewood is East Dallas’s signature neighborhood — a canopy of historic Tudors and Spanish revivals rolling toward White Rock Lake, with a genuine community feel that has made it one of the most beloved places to live in the city. It pairs architectural character and lake-adjacent outdoor life with a price of entry well below the Park Cities.
What living here is like
Life in Lakewood revolves around White Rock Lake — nine miles of trails, sailing, and skyline views — and the Dallas Arboretum on its southeastern shore. The neighborhood’s original 1920s and 1930s homes give its streets a texture few Dallas areas can match, and long-tenured neighbors, local restaurants along Gaston and Abrams, and an active community fabric make it feel more like a small town than a big-city district.
Closer to the core, Knox/Henderson brings some of the city’s best dining and shopping, and the M Streets’ Greenland Hills conservation district protects one of the largest intact collections of Tudor cottages in the country.
The housing stock
Expect historic Tudors, Spanish eclectics, and craftsman bungalows alongside thoughtful renovations and a growing number of larger new builds, particularly on streets near the lake. Conservation districts in parts of Lakewood and the M Streets shape what can be built, which protects character and supports long-term value.
To the northeast, Lake Highlands offers mid-century homes on larger lots and has become one of East Dallas’s most active value plays for families wanting more space.
Schools
Lakewood Elementary and the Woodrow Wilson High School feeder pattern are a genuine draw within Dallas ISD, with strong parent involvement and neighborhood loyalty that shows up directly in home values on streets inside the attendance zone.
The market right now
Current figures from the June 2026 Dallas Luxury Market Report. Lakewood and East Dallas are tracked under ZIPs 75214 (Lakewood proper, Munger Place, and the M Streets), 75206 (Knox/Henderson and Vickery Place), and 75238 (Lake Highlands and the White Rock Lake area).
| ZIP | Area | Median List Price | $/Sq Ft | Median DOM | Active Listings | Buyer Demand Index |
|---|---|---|---|---|---|---|
| 75206 | Knox/Henderson / Vickery Place | $466,500 | $311 | 57 | 210 | 32.7 |
| 75214 | Lakewood / M Streets / Greenland Hills | $1,143,500 | $429 | 40 | 157 | 65.2 |
| 75238 | Lake Highlands / White Rock Lake | $693,000 | $334 | 45 | 84 | 55.6 |
How Lakewood is trending
Lakewood month by month across every published Dallas Luxury Market Report — median values across ZIPs 75206, 75214, 75238.
Median List Price
Median Days on Market
Buyer Demand Index
Common questions
- What is Lakewood in Dallas known for?
- Historic architecture, White Rock Lake, and community. Lakewood holds one of the best collections of 1920s–30s Tudor and Spanish revival homes in Texas, sits beside nine miles of lakefront trails, and has a neighborhood culture — local restaurants, festivals, and the Lakewood Elementary community — that keeps residents for decades.
- Are the schools in Lakewood good?
- Lakewood Elementary and the Woodrow Wilson High School feeder pattern are among the most sought-after public school options inside Dallas ISD, and homes zoned to Lakewood Elementary typically command a premium. Several private and charter options serve East Dallas as well.
- How expensive is Lakewood compared to the Park Cities?
- Lakewood’s luxury market generally enters well below Park Cities pricing while offering larger lots near the lake and comparable architectural character. Exact figures move month to month — the current numbers for ZIP 75214 and its East Dallas neighbors are published in the Dallas Luxury Market Report.
- What ZIP codes cover Lakewood and East Dallas?
- Lakewood proper and the M Streets fall in ZIP 75214, Knox/Henderson and Vickery Place in 75206, and Lake Highlands with the White Rock Lake area in 75238. Monthly data for each is published in the Dallas Luxury Market Report.
Thinking about Lakewood?
Natalie Hatchett has helped buyers and sellers across Lakewood and Dallas's luxury neighborhoods for two decades. Whether you're weighing a move or curious what your home is worth today, reach out for a conversation — no pressure, just straight answers.