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    Homebuyer Blues

    This is how long millennials have to save to afford a home in Dallas

    Nicole Raney
    Apr 22, 2016 | 10:15 am
    Dallas home, 8335 Banquo Dr., home for sale
    Dallas millennials plan on buying a home — but few can afford it.
    Photo courtesy of Ebby Halliday Realtors

    Buying a home in Dallas is increasingly challenging. There aren't many starter homes available, and even if there were, a new report says millennials wouldn't be able to snag them.

    As part of an annual survey, Apartment List questioned millennial renters across the country about their plans for homeownership. The Dallas metro area lines up with the national trend: A lot of young people want to buy a place, but they can't afford to right now, and they may not be able to any time soon.

    Eighty percent of metro-area millennials plan to buy a home, but most say they need at least three years to prepare. Affordability is cited as the main reason for holding off, and local millennials aren't underestimating what it will take to buy a home. Survey respondents think they need $19,885 for a down payment, and Trulia says they're correct. First-time buyers should have $19,750 in the bank, 20 percent of the median price of a Dallas-area starter home.

    These perspective homebuyers have a long road ahead. Local respondents report having $2,689 in savings, with plans to contribute $208 each month. Based on the savings rate and down payment requirements, they'll need to save for six years to buy a home.

    Apartment List says there's a disconnect between millennials' homeownership dreams and reality. "Many do not seem to realize their financial predicament — 3 in 4 renters plan to purchase a home within the next five years, but their savings trajectories suggest that they may need a decade or more to afford it," says Apartment List.

    The delay in first-time home purchases is part of what Apartment List calls an ongoing affordability crisis that is shaping the future of the housing market.

    "Some may choose to delay settling down and having children, while others will migrate to family-friendly cities on the interior of the country. Given the size of the millennial population, either scenario will have a profound impact on homeownership and renting in our society."

    familieshome-for-saletrendsyoung-professionalsreports
    news/real-estate

    Home For Sale

    Once-in-a-century 3-acre estate for sale in Dallas' Preston Hollow

    Teresa Gubbins
    May 20, 2025 | 10:58 am
    9511 Inwood Rd.
    The Agency Dallas
    9511 Inwood Rd.

    A once-in-a-generation estate has hit the market in Dallas' Preston Hollow neighborhood. Located at 9511 Inwood Rd., the home is being offered for sale for the first time in more than a century, having remained under the stewardship of the same family since at least 1940 when the current home was built.

    Situated on nearly three acres on a corner lot, it's an English-style estate surrounded by century-old hardwoods and manicured landscaping, creating a private sanctuary in the middle of the city.

    There's a main residence, guest quarters, and two workshops, one featuring a rail-mounted hoist and enhanced electrical systems.

    Listed for $7,500,000, the home has 4,675 square feet with four bedrooms, 4.5 bathrooms, and a five-car garage.

    The property is free from both floodplain and historic designation, allowing a buyer to remodel, rebuild, or (ugh) subdivide. It also has three curb cuts — two on Inwood Road and one on Park Lane — with the possibility of a posh Park Lane address.

    It's also zoned for horses and other animals, and a perimeter privacy wall can be added.

    According to listing agent Andrea Childress with The Agency Dallas, the property was originally known as Sunnyslope Estate, and was developed more than 100 years ago by oilman M.H. Marr, who was searching for a place to settle with his family when he discovered the tract of land on what was then the edge of Dallas and is now in the heart of Preston Hollow.

    Marr's wife, Adah Yale Marr, was known for her prominent social presence, entertaining various figures and hosting business gatherings with Dallas families like the Hunts, Meadows, and DeGolyers among their guests.

    9511 Inwood Rd.
      

    The Agency Dallas

    9511 Inwood Rd.

    Childress calls it "more than just a listing—it’s a landmark."

    "Properties like this simply don’t exist anymore, especially with this kind of acreage, location, and legacy,” she says.

    home-for-sale
    news/real-estate
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