Denton County
Living in The Colony, Texas
Lakeside lifestyle inside the metroplex.
Population
~48,000
Median home
$465K
Median income
$100K
Property tax
~2.0% effective
Primary ISD
Lewisville ISD & Little Elm ISD (varies)
Commute
30–45 min to downtown Dallas
The Colony wraps around Lewisville Lake and delivers waterfront lifestyle at a fraction of the price of comparable Frisco or Plano homes. Grandscape — the mega-retail development — added a new dimension of walkable retail to what used to be a value suburb.
The Colony is the value-plus-lifestyle story in DFW. Homes here trade at 15–25% below neighboring Frisco for comparable size and finishes.
The Tribute — a golf-course master-planned community — is the crown jewel and one of the more unique lifestyle communities in the metroplex.
Grandscape (Nebraska Furniture Mart, Scheels, Andretti Indoor Karting, restaurants, hotels) transformed the retail identity of the city in the last five years.
Neighborhoods & communities
The Tribute
Golf-course master-planned, lake views, higher price band.
Austin Waters
Newer, master-planned, family focus.
Stewart Peninsula
Lake proximity, established, value.
The Colony proper (older)
1980s–90s, value entry point.
Grandscape adjacent
Townhome and mid-rise, walk-to-retail.
Schools
- The Colony is split between Lewisville ISD (majority) and Little Elm ISD (northern portion).
- The Colony HS is the primary Lewisville ISD high school in the city.
- School zoning varies significantly — verify specific address.
The pros
- Direct lake access and waterfront lifestyle
- Value pricing versus Frisco and Plano
- Grandscape retail and entertainment
- The Tribute is a genuinely unique lifestyle community
The considerations
- Lewisville ISD and Little Elm ISD variability
- Longer commute to downtown Dallas than Coppell or Plano
- Some older housing stock needs modernization
- Waterfront pockets carry a real premium
Who The Colony is right for
- Active outdoor families — boating, paddleboarding, trails
- Buyers priced out of Frisco who don't want to go further north
- Empty-nesters wanting waterfront-adjacent living
- Households with a $400K–$800K budget
A weekend in The Colony
The Colony weekends are the boat ramp at Stewart Creek Park, brunch at the Tribute clubhouse, an afternoon at Grandscape, and dinner watching the sunset over the lake. It's DFW living for people who actually want to be outside.
Frequently asked
Is Lewisville ISD as strong as Frisco or Prosper?
It's a large, mixed district. Specific feeder patterns in The Colony can be excellent; others are average. Verify the address rather than trusting the district-wide rating.
Do I actually need to be on the water?
No — most of The Colony is standard suburban. But the lifestyle differentiator is the lake, and if you're not using it, Frisco or Plano may fit your actual life better.
What's the deal with Grandscape?
It's one of the largest mixed-use developments in the country, still growing. Retail, entertainment, restaurants — a legitimate destination that's added real value to nearby homes.
Compare with nearby communities
Considering The Colony?
Let's talk through the trade-offs together.
A 30-minute call. No obligation. Bring your list of questions.