Aledo is a community in eastern Parker County. The town of Aledo is a few minutes south of Interstate 20. Aledo has become a favorite place for many people from the "big city" of Fort Worth to live. Homes range in price from a low of $60,000 to a high of several million dollars. Many homes are are a half acre or more. Aledo is home to Aledo High School home of the fighting Bearcats.