Nevada is a city in Collin County, Texas, United States. The population was 822 at the 2010 census, and 1,314 in 2020. First settled in 1835 …Nevada is a city in Collin County, Texas, United States. The population was 822 at the 2010 census, and 1,314 in 2020. First settled in 1835 by John McMinn Stambaugh and named "McMinn Chapel", the area was settled by Granville Stinebaugh, who named it after the Nevada Territory. Nevada enjoyed some prosperity after becoming a stop on the St. Louis Southwestern Railway, and the town incorporated in 1889.