Is This Dallas, TX Suburb the New Black Wall Street? Some Are Saying It Is... – Financial Juneteenth
Many people don’t consider DeSoto, TX a great place to raise their kids or a nice place to live. But those who know the greatness of this Dallas suburb wouldn’t want to trade it for anything. It is actually a peaceful neighborhood and has all the necessary amenities.
As more people realize that DeSoto is an affluent community that should be listed alongside other north Texas locations such as Southlake, Frisco, and Flower Mound, more individuals and families continue to move to the suburb.
The population has risen to well over 50,000 from 15,000 in the 1980s.
Taj Clayton and his wife live in DeSoto and were looking for a place to raise their three kids. After considering a host of places, they chose DeSoto, and they haven’t regretted a bit of that decision.
“DeSoto, for our perspective, was the best place to live,” Taj Clayton said. “It was just a hidden gem that a lot of people didn’t know about. There are beautiful hills, undulating landscapes, incredible parks. I feel fortunate to live on a golf course.”
Having lived in and loved the community, the couple has also influenced some of their friends to move there.
“We are actually three minutes from my kids school,” Tonika Clayton said. “We got some of our friends to move here from Plano.”
Additionally, the fact that the community contains many affluent Black residents is something else that has attracted many to the neighborhood. The Black population in DeSoto accounts for 68 percent of its inhabitants, way above the Black population in Dallas or Fort Worth.
“It’s a really nice bedroom community where you see a lot of successful people who live here and, demographically, there are a lot of African-Americans,” the Clayton couple maintained.
DeSoto Mayor Carl Sherman reveals that many African-Americans have been moving to the community since the turn of the millennium.
“Since 2000-2010, there’s been a large migration of African-Americans to North Texas,” Sherman said. “In fact, we’re the leading [community] second only to Atlanta for the migration from north to south. And many of those have chosen to live in the city of DeSoto because of the caliber of the citizens that we have here.”
The majority of the residents (91 percent) live above the poverty line, with the median income in 2013 being $60,945.
In terms of business, the U.S. Census revealed that 55.3 percent of businesses in the community are owned by Black people.
Fantastic news.
