Southlake is a city of style. Homes and lots are spacious. Approximately 90% of the homes on the market are over $400,000.00 (50% of the homes are priced over $600,000.00) and over 85% have been built since 1990. Southlake is almost exclusively a single-family residential area. The city has several planned developments, including Timarron, a Mobil master planned community that includes the Byron Nelson Signature golf course. Excellent schools are Southlakes trademark. The Carroll Independent School District has received an exemplary rating from the Texas Education Agency. Only 14 school districts out of 1045 school districts in the state of Texas have earned this rating.

The schools band and several athletic teams have been well represented in state competitions. Over 35% of the citys population over age 25 have a college education. Southlake also offers one of the lowest crime rates in the country.