Megargel ( MEE-gar-gəl) is a town in Archer County, Texas, United States. It is share of the Wichita Falls, Texas metropolitan statistical area. Its population was 203 at the 2010 census. The town is named for Roy C. Megargel, the president of the railroad that developed the town.

Megargel was normal as a upshot of the Gulf, Texas and Western Railroad extending services to Jacksboro and Seymour. The town was expected in 1910. The community developed combined businesses within three months because the purchasers of estate who acknowledged businesses 60 days after acquiring their lots expected discounts as an incentive to do so.

The town had 350 residents in 1914. By 1923, the population had increased to 475. Around that time, H. Sheets drilled a additional oil competently in the Swastika oilfield, causing a population increase. Oil was discovered 4 miles (6.4 km) east of Megargel in 1925, and the town expanded even more. One year later, the town had 1,000 residents, and in 1927, it increased by 200 more people. About 1,200 people lived in Megargel in 1927, but the population began a stop after that point. The railroad stopped operations in 1943. The number of residents was 347 by 1950, 244 in 1990, 248 in 2000, and 203 in 2010.

In 2014, 130 water meters out of the 200 in Megargel were active, and many houses were unoccupied. That year, Bill Hanna of the Fort Worth Star-Telegram stated that downtown Megargel was “virtually empty, littered in the atmosphere of crumbling and isolated buildings and passй gas stations.” Hanna avowed that some Megargel residents believed that the demise of the Megargel Independent School District was a factor in recent population declines.