Alamo Heights, Olmos Park, and Terrell Hills are three small, independently incorporated cities sharing the 78209 ZIP code, completely surrounded by the City of San Antonio just north of downtown and split by the Broadway corridor and US-281. Each has its own city government, its own deed restrictions, and its own character — but buyers usually cross-shop all three.

What’s Actually Here

Housing ranges from 1920s historic architecture to modern luxury infill, almost entirely single-family. Because each city enforces its own deed restrictions rather than a private HOA, values have historically held up well — Olmos Park requires an 8,500-square-foot minimum lot, and Terrell Hills carries the largest minimum lot size of the three. Alamo Heights is the most walkable, built around the Broadway retail and restaurant corridor. Olmos Park, by contrast, is zoned with zero commercial property — it’s purely residential, home to roughly 2,200 people.

Home Prices and the Market

Single-family median prices in 2026 have run around $1.05 million in Alamo Heights, $1.15 million in Terrell Hills, and $1.4 million in Olmos Park. Broader market data (which blends in condos and townhomes) puts Alamo Heights’ median sale price at $707,146 as of July 2026, down 9.3% year-over-year, with homes averaging 44 days on market and selling near 96% of list price — about a third of listings needed a price adjustment along the way. Olmos Park’s June 2026 median ran $710,000, homes averaging 63 days on market. Figures like these shift monthly, so treat them as a general picture rather than a fixed number — I can pull current, address-specific comps any time.

One detail worth knowing if you’re a veteran or active-duty buyer: VA jumbo financing is common here. On a $1.2 million purchase using full VA entitlement above the $832,750 Bexar County conforming limit, the required down payment runs roughly $92,000 — compared to $240,000 under a conventional 20%-down structure.

Schools

All three cities are zoned exclusively to Alamo Heights ISD, widely regarded as one of the strongest districts in Bexar County — it’s the single biggest reason buyers choose this pocket of San Antonio.

Taxes, Commute, and What Else to Check

Combined effective property tax rates across the three cities run roughly 2.0% to 2.3%. Terrell Hills offers the most direct commute to JBSA-Fort Sam Houston, which is part of why it draws a concentration of retired senior military officers. Commutes to JBSA-Randolph run about 12 miles/20 minutes from Alamo Heights and 13 miles/22 minutes from Olmos Park. Proximity to San Antonio’s downtown medical corridor is also a real draw for Olmos Park buyers — medical professionals purchasing in the $700,000–$1,000,000 range account for a meaningful share of that market.

If you’re comparing these three against each other — or against Stone Oak, The Dominion, or Shavano Park — I can walk you through the real tradeoffs. Call or text any time.

Carmen Lucas · Kuper Sotheby’s International Realty
(956) 459-8785 · carmen.lucas@kupersir.com