Southlake is one of North Texas’ most prestigious cities, known for its luxury estates, top-rated schools, and high-end shopping and dining. While it offers an exclusive suburban lifestyle, the cost of living is higher than the Texas average, especially in housing and property taxes. Here’s a breakdown of what it really costs to live in Southlake.
1. Housing Costs: Luxury Comes at a Premium
Southlake is known for its sprawling estates, gated communities, and custom-built homes, making it one of the most expensive housing markets in the DFW area.
Median home price: $1.2M+
Luxury homes in neighborhoods like Westwyck Hills, Vaquero, and Shady Oaks: $2M – $10M+
Rent for a high-end home: $5,000 – $15,000/month
Southlake’s housing market is dominated by custom homes on large lots, with many properties featuring resort-style pools, guest houses, and private security.
2. Property Taxes: High Due to No State Income Tax
Texas has no state income tax, but Southlake’s property taxes are among the highest in the region.
Property tax rate in Southlake: ~2.4% of home value
Annual taxes on a $2M home: ~$48,000 per year
Southlake’s exclusive communities, high-value homes, and luxury amenities contribute to higher property tax bills.
3. Utilities & Internet: Higher for Larger Homes
Electricity: $250 – $600/month (higher for larger estates)
Water & sewer: $100 – $250/month
Internet & cable: $100 – $300/month
Many Southlake homes are high-tech smart homes, which can increase utility costs depending on energy efficiency and automation.
4. Groceries & Dining: Upscale but With Options
Southlake offers a mix of luxury grocery stores, boutique markets, and fine dining restaurants.
Grocery bill (family of four): $1,200 – $2,000/month
Casual dining for two: $50 – $100
Fine dining at Southlake Town Square or nearby: $250 – $600+ for two
Luxury grocery stores like Central Market and Whole Foods are popular, but HEB and Costco provide more budget-friendly options.
5. Transportation: A Car Is Necessary
Southlake has no public transportation, and residents rely entirely on private vehicles.
Gas prices: ~$3.00 – $3.50/gallon
Car insurance: $2,000 – $5,000 per year (higher for luxury vehicles)
Toll roads (Denton Tap, TX-114, DFW Connector): $100 – $400/month
Many Southlake residents own multiple high-end vehicles, which raises costs for insurance, maintenance, and tolls.
6. Private Schools & Childcare: A Consideration for Families
Southlake is home to Carroll ISD, one of the best public school districts in Texas, but many families still opt for private education.
Top private schools nearby: The Clariden School, Liberty Christian, Grapevine Faith Christian
Annual tuition: $20,000 – $45,000 per child
Daycare/preschool: $1,500 – $3,000/month
Carroll ISD’s high ranking makes Southlake a popular choice for families who want elite public education without private school tuition.
7. Entertainment & Lifestyle: High-End Amenities
Southlake is known for country clubs, luxury fitness centers, and exclusive shopping.
Country club membership (Timarron, Vaquero, Trophy Club): $10,000+ initiation + $500 – $2,500/month
Luxury gym memberships (Life Time, Equinox in Dallas): $200 – $400/month
Shopping at Southlake Town Square: Designer brands, boutique stores, and high-end shopping
Many luxury homes in Southlake feature private home gyms, media rooms, and resort-style pools, reducing the need for external memberships.
8. Healthcare Costs: Premium Services Available
Southlake has access to top-tier hospitals and concierge healthcare services.
Health insurance premiums: $600 – $2,000/month (varies by plan)
Routine doctor visit: $200 – $500 without insurance
Concierge medicine (VIP healthcare): $10,000 – $50,000 per year
Many high-net-worth residents opt for concierge doctors and private specialists for personalized healthcare.
The Bottom Line: What’s the Real Cost of Living in Southlake?
Southlake is one of the most exclusive suburbs in DFW, with a cost of living that reflects its luxury reputation.
Expense Category | Mid-Range Budget | Luxury Budget |
Housing (Rent/Mortgage) | $5,000 – $10,000 | $12,000 – $30,000+ |
Property Taxes | $1,500 – $4,000 | $5,000+ |
Utilities | $300 – $700 | $800 – $2,000 |
Groceries | $1,200 – $2,000 | $2,500+ |
Dining & Entertainment | $500 – $2,000 | $3,500+ |
Transportation | $600 – $1,500 | $2,000+ |
Private Schools | $2,000+ | $4,000+ |
Healthcare | $500 – $2,000 | $3,000+ |
A comfortable lifestyle in Southlake requires $12,000 – $20,000 per month, while luxury buyers should expect to spend $30,000+ per month for an elite experience.
Is Southlake Worth the Cost?
Yes, if:
You want large estates, gated communities, and a prestigious address.
You prioritize top-ranked public schools (Carroll ISD) or elite private schools.
You enjoy golf courses, country clubs, and high-end shopping and dining.
No, if:
You prefer lower property taxes or more affordable housing.
You want public transportation or a walkable urban environment.
You don’t want to pay a premium for luxury amenities and exclusivity.
Thinking about moving to Southlake? Let’s find the perfect luxury home for you! Please call us at 469-269-6541 for more details about Southlake and available homes!
About us: Southlake Luxury Real Estate Experts
As a Top Real Estate Professional in Southlake, I understand the challenges that arise when buying a luxury home in Southlake.
As a holder of top real estate industry certifications and designations like CRS, ABR & GRI, I can offer my clients experience as a Buyer's Agent and REALTOR®, top Industry Customer Service, in-depth, up-to-the-minute and comprehensive market knowledge; honesty, integrity, dedication, and professionalism in my business.
Whether you are a first time buyer in Southlake looking to buy a home in Southlake or whether you are relocating to Southlake from California or moving your entire family from areas like San Francisco, Fremont, Palo Alto, Los Angeles, San Diego in California due to job transfer with your company, I can help you find a luxury home in Southlake. Our relocation team eases the transition - whether you are moving across town or across the globe. We will work with you to find an area that best suits your professional, family and lifestyle needs. We have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, we can make this process as comfortable as possible no matter where you are located.
What is most important to you in your new home in Southlake? Send us an email at info@NitinGuptaDFW.com or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about Southlake that you can use to help make your home buying decision.
