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Best Areas for Families in Dallas-Fort Worth with a $500,000 Budget

  • Writer: Nitin Gupta, CRS, REALTOR
    Nitin Gupta, CRS, REALTOR
  • Mar 4
  • 4 min read



If you're moving to Dallas-Fort Worth with a $500,000 budget, there are plenty of family-friendly neighborhoods offering great schools, safety, and community amenities. Here’s a breakdown of the best areas where you can find a quality home within budget:



🏡 Top Suburbs Near Dallas

1. Frisco (25-30 minutes north of Dallas)

✔ Why It’s Great for Families:

  • Top-rated schools (Frisco ISD)

  • Newer homes, many with modern designs and community amenities

  • Parks, sports facilities, and family-friendly attractions like The Star (Dallas Cowboys HQ)

💰 What You Can Get for $500K:

  • 4-5 bedroom newer homes in communities like Phillips Creek Ranch, Panther Creek Estates

  • Move-in ready homes with updated kitchens, open layouts, and good-sized backyards

📍 Best Neighborhoods:

  • Panther Creek Estates

  • Preston Highlands

  • Grayhawk



2. McKinney (30-40 minutes north of Dallas)

✔ Why It’s Great for Families:

  • McKinney ISD & Frisco ISD schools (depending on the area)

  • A mix of historic charm and newer suburban homes

  • Tons of parks, hiking trails, and family activities

💰 What You Can Get for $500K:

  • 4-bedroom homes in Trinity Falls and Craig Ranch

  • Some new construction homes available in master-planned communities

📍 Best Neighborhoods:

  • Trinity Falls

  • Stonebridge Ranch

  • Heatherwood



3. Prosper (35-40 minutes north of Dallas)

✔ Why It’s Great for Families:

  • Prosper ISD is one of the top-ranked school districts in Texas

  • Larger lots and spacious homes compared to Frisco

  • Master-planned communities with resort-style pools, parks, and walking trails

💰 What You Can Get for $500K:

  • 4-5 bedroom homes in Windsong Ranch & Star Trail

  • Newer construction with upgraded features like high ceilings and open kitchens

📍 Best Neighborhoods:

  • Windsong Ranch (some homes under $500K)

  • Star Trail

  • Creeks of Legacy



4. Allen (25-30 minutes north of Dallas)

✔ Why It’s Great for Families:

  • Allen ISD is highly rated

  • Close to shopping & entertainment at Watters Creek & Allen Premium Outlets

  • Lots of parks and recreational activities

💰 What You Can Get for $500K:

  • 4-bedroom homes with updated interiors in mature, tree-lined neighborhoods

  • Some new construction in Village at Twin Creeks

📍 Best Neighborhoods:

  • Twin Creeks

  • StarCreek

  • Watters Crossing



5. Wylie (30-40 minutes northeast of Dallas)

✔ Why It’s Great for Families:

  • Excellent schools (Wylie ISD)

  • Affordable housing with larger yards and suburban charm

  • Close to Lake Lavon for outdoor activities

💰 What You Can Get for $500K:

  • Spacious newer homes in communities like Inspiration

  • 4-5 bedroom homes with large yards

📍 Best Neighborhoods:

  • Inspiration

  • Woodbridge

  • Bozman Farms

🏡 Top Suburbs Near Fort Worth



6. Keller (20-25 minutes north of Fort Worth)

✔ Why It’s Great for Families:

  • Keller ISD schools are highly rated

  • Quiet, safe neighborhoods with a suburban feel

  • Lots of parks, shopping, and family activities

💰 What You Can Get for $500K:

  • 4-bedroom homes with modern updates and community pools

  • Homes in Heritage and Hidden Lakes neighborhoods

📍 Best Neighborhoods:

  • Hidden Lakes

  • Marshall Ridge

  • Heritage



7. Roanoke / Trophy Club (30 minutes north of Fort Worth, near Southlake)

✔ Why It’s Great for Families:

  • Great schools (Northwest ISD & Carroll ISD options in some areas)

  • Trophy Club offers gated communities & golf course homes

  • Roanoke has a small-town charm with great restaurants

💰 What You Can Get for $500K:

  • Newer homes with 4-5 bedrooms in Roanoke

  • Some homes in Trophy Club under $500K

📍 Best Neighborhoods:

  • Highlands Glen (Trophy Club)

  • Chadwick Farms

  • Seventeen Lakes



8. Burleson (20-30 minutes south of Fort Worth)

✔ Why It’s Great for Families:

  • Great schools (Burleson ISD & Joshua ISD)

  • More affordable than other DFW suburbs

  • Quiet, suburban feel with easy access to Fort Worth

💰 What You Can Get for $500K:

  • 4-5 bedroom homes on large lots (some 1+ acres!)

  • Newer homes with open layouts & outdoor entertainment spaces

📍 Best Neighborhoods:

  • Hidden Vistas

  • Mistletoe Hill

  • Southern Oaks


🏡 Best Neighborhoods in Dallas Under $500K

If you prefer to be closer to the city, here are the best family-friendly neighborhoods in Dallas within budget:



9. Lake Highlands (15-20 minutes from downtown Dallas)

✔ Top-rated schools (Richardson ISD)

✔ Family-friendly parks & outdoor activities

✔ Charming mid-century & new construction homes


💰 What You Can Get:

  • 3-4 bedroom homes in Merriman Park Estates or White Rock Valley

📍 Best Neighborhoods:

  • White Rock Valley

  • Town Creek

  • Merriman Park Estates


10. North Dallas / Preston Hollow (Some Areas) (15-20 minutes from downtown Dallas)

✔ Near great private & public schools

✔ Access to shopping & entertainment (Galleria Dallas)

✔ Mature trees & well-established neighborhoods


💰 What You Can Get:

  • Smaller homes in Preston Hollow or a fully updated 3-4 bed home in North Dallas


📍 Best Neighborhoods:

  • Prestonwood

  • Hillcrest Forest

  • Northwood Hills


📌 Final Thoughts: Where Should You Buy?

✅ Best for Top Schools: Frisco, Prosper, Allen, Southlake, Keller

✅ Best for Luxury & New Homes: Frisco, Prosper, Trophy Club

✅ Best for Large Yards & Nature: Wylie, Flower Mound, Burleson

✅ Best for Dallas City Living: Lake Highlands, Prestonwood


With $500,000, you can find a great family home in top-rated suburbs like Frisco, McKinney, Prosper, and Keller, or you can stay closer to Dallas in areas like Lake Highlands.

 

Call us at 469-269-6541 for more information about McKinney real estate!


FIND A LUXURY HOME IN   MCKINNEY, TEXAS WITH NITIN GUPTA, BROKER ASSOCIATE, REALTOR®.


When purchasing a luxury home in   McKinney, Texas, it’s essential to consider factors such as location, architectural style, security, and amenities to ensure the home meets both lifestyle and investment needs. By selecting a property in a prestigious neighborhood with numerous amenities and security measures, buyers can ensure they’re making a valuable and rewarding investment in the vibrant McKinney market.


For those looking to invest in luxury homes in McKinney, Texas, Nitin Gupta is an expert real estate professional ready to assist. Known for his extensive experience, market insights, and numerous awards, he is committed to finding his clients the best properties in the area.


Contact Nitin Gupta at 469-269-6541 or send a message today to explore exclusive listings and secure your ideal luxury residence in one of McKinney elite communities.




 
 
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