Lake Life • Entertainment Hub • Established Neighborhoods
Moving to The Colony, Texas
One of the most underappreciated suburbs in North Texas
At a Glance
Quick Facts
The Big Picture
Overview
The Colony sits on the southeastern shore of Lake Lewisville with direct waterfront access, and Grandscape has made it a destination in ways that most suburbs on this list don’t achieve until they’re much larger. For Toyota North American HQ commuters (6,600+ employees in Plano), the SH-121 access is as direct as it gets. The Dallas North Tollway is right there. Nebraska Furniture Mart alone brings visitors from across the region.
The housing market splits between established neighborhoods and new lakefront development. The Tribute is the flagship: a 1,600-acre master-planned community on a Lake Lewisville peninsula with two championship golf courses, 10+ miles of trails, resort-style pools, and new construction from $594K to $1.6M. Chelsea Green Townhomes at The Tribute offer a golf-fronting new build option from $560K to $795K. Austin Ranch provides a mid-range entry from $450K to $750K. Established areas like Legends and Stewart Peninsula offer older resale stock from the ’80s and ’90s in the $300s to $400s.
The commute works well for Plano, Frisco, and the Legacy corridor via SH-121 and DNT. Downtown Dallas is 30 to 40 minutes. DFW Airport is about 25 to 30 minutes. The SH-121/DNT interchange sees congestion at peak hours. Fort Worth is 45 to 55 minutes, making The Colony viable but not ideal for I-35W commuters.
But here are the tradeoffs: the housing stock in established areas is older, with most homes built in the ’70s through the ’90s. Also, tollroads are the primary fast route in and out, so you’ll need to budget accordingly.
The Honest Take
Pros and Cons
What Works
- Best location-to-price ratio in the DNT/SH-121 corridor, with Denton County pricing and direct Collin County employment access
- Lake Lewisville waterfront access with 23 miles of shoreline, including kayaking, boating, fishing, and lakefront trails
- Grandscape is a 400-acre shopping, dining, and entertainment destination with Nebraska Furniture Mart, SCHEELS, and first-to-market attractions
- Lower effective tax rate (~2.0%) with no MUD in established neighborhoods, keeping monthly costs predictable
- The Tribute offers resort-style lakefront living with two championship golf courses and new construction from high-quality builders
Tradeoffs
- Housing stock in established areas is older, with most homes built in the ’70s through ’90s and limited new construction outside The Tribute
- Tollroads are the primary fast route in and out. Budget $150 to $250/month for TollTag if commuting daily via SH-121 or DNT
- Less master-planned community feel than Frisco, Prosper, or Northlake in most neighborhoods outside The Tribute
- SH-121 and DNT interchange congestion at peak hours, especially near Grandscape and Legacy West
Local Life
Things to Do
Grandscape
400-acre indoor-outdoor entertainment, shopping, and dining destination with SCHEELS, Nebraska Furniture Mart, Galaxy Theatres, and live music on the Stage & Lawn.
Lake Lewisville Waterfront
23 miles of shoreline with Stewart Creek Park, Hidden Cove Park, swimming, fishing, boat ramps, and kayak access.
The Tribute Golf Clubs
Two championship courses (Tribute Golf Links and Old American Golf Club) on a Lake Lewisville peninsula, open to the public.
Hawaiian Falls Waterpark
Family waterpark with slides, lazy river, and wave pool, located in The Colony.
Did You Know
Fun Facts
Nebraska Furniture Mart’s The Colony location is one of the largest retail stores in the world by square footage, anchoring Grandscape and drawing visitors from across the region.
The Colony takes its name from Peters Colony, a mid-1840s land grant that served as headquarters in the area now within city limits. The city was incorporated in 1977.
The Colony sits on the southeastern shore of Lake Lewisville with 23 miles of waterfront access.
New Construction + Resale
Top Communities
- The Tribute$594K–$1.6M
- Chelsea Green Townhomes at The Tribute$560K–$795K
- Austin Ranch$450K–$750K
- Waterford Point $350K–$500K
Common Questions
FAQ
What is the property tax rate in The Colony, Texas?
The Colony’s city rate is approximately $0.64 per $100 valuation. When combined with Lewisville ISD ($1.12 per $100) and Denton County, the effective rate runs about 2.0% for most addresses. Established neighborhoods have no MUD, keeping costs predictable. Verify the specific address with Denton CAD before making any financial decisions.
How long is the commute from The Colony to Dallas and Plano?
Downtown Dallas is 30 to 40 minutes via SH-121 and DNT. Toyota North American HQ in Plano is about 15 minutes via SH-121. DFW Airport is 25 to 30 minutes. Fort Worth is 45 to 55 minutes. Tollroads are the primary fast route, so budget for TollTag costs.
What are the best communities to buy a home in The Colony?
The Tribute is the flagship, a lakefront master-planned community with two golf courses and new construction from $594K to $1.6M. Chelsea Green Townhomes offer golf-fronting new builds from $560K to $795K. Austin Ranch provides a mid-range entry from $450K to $750K. Waterford Point offers resale stock from $350K to $500K.
Is The Colony a good place to live?
The Colony sits on the eastern shore of Lake Lewisville with direct lake access, a growing retail scene around Grandscape, and a mix of established neighborhoods and newer development. It’s well-positioned between Frisco and Lewisville with easy highway access. Parts of The Colony also fall in Little Elm ISD, so it’s worth checking exactly where an address is zoned.
What are the downsides of living in The Colony?
The biggest tradeoffs are older housing stock in established areas (most homes built ’70s to ’90s), tollroad dependency for fast commutes ($150 to $250/month TollTag), and less master-planned community feel than Frisco or Prosper. Also, peak hour congestion at the SH-121/DNT interchange.
Watch
Explore The Colony
Statistics accurate as of early 2026. Data sourced from Denton CAD, U.S. Census Bureau, Niche.com, and local MLS records. Market conditions change frequently. Contact Jeremiah for current figures.