While Talty was incorporated in 1999, the community was established in the late 1800s. Irish settlers made up most of its early residents, including namesake Michael Talty. The U. S. Postal Service delivered mail to Mr. Talty's general store for distribution in the area then known as Layden Ridge.

According to 2013 data, Talty's residents have median age of 40 and a median household income of $102,440. The 2013 median home value was $261,900. The City's current population is approximately 1800.

Located on Interstate 20 twenty miles east of Dallas, Talty is ideally suited to those seeking large residential lots within easy commuting distance to the urban center. 

Although considerable commercial/retail zoning exists along Talty's I-20 and FM 1641 corridors, large tracts and individual subdivided lots remain available for residential development.