2026 The Colony community guide · Denton County
Lewisville Lake parks and trails, The Tribute’s golf courses and Grandscape’s shops and entertainment, about 10 minutes from Legacy West.
By Karli Vasek, REALTOR® (TREC #0784847) · Updated
For sale now
From original 1970s and ’80s homes to lakefront and golf-course homes in The Tribute, here are the latest listings in The Colony and the searches our buyers run most.
01Overview
For many buyers, yes. The Colony puts Lewisville Lake, two golf courses and Grandscape’s shopping and entertainment within a few minutes of Legacy West and Frisco, and the city has lowered or held its tax rate for 26 straight years. Typical values (about $395,000) are below Frisco and Plano. The trade-offs are a combined rate near 1.93% (about 2.04% in Little Elm ISD), heavy SH-121 traffic and little land left for new building outside The Tribute.
The Colony takes its name from the Peters Colony land grant of the 1840s; nearby Bridges Settlement (1843) was the first settlement in Denton County. Builder Fox & Jacobs bought about 2,500 acres in 1973, the first families moved in in October 1974, and the city incorporated in 1977 and merged with neighboring Eastvale in 1987.
Today about 46,000 people live here (July 2025 Census estimate), and the city is close to built out. The Tribute, a 1,600-acre lakeside golf community, is the last large residential development, while the 433-acre Grandscape district, anchored by Nebraska Furniture Mart since 2015, draws millions of visitors a year.
The city claims more than 2,500 acres of parks, and the lake shapes daily life: the Shoreline Trail, Stewart Creek Park, Hidden Cove Park & Marina and the Tribute Shoreline Trail all sit on Lewisville Lake.
The Colony is split between Lewisville ISD and Little Elm ISD, and the two have different tax rates (about 1.93% vs. 2.04% in total). The Tribute itself has sections in each. Also, ZIP 75056 covers Lewisville’s Castle Hills, so check the city and ISD on every listing.
02Honest take
What we tell our own clients before they make a move.
Pros
Cons
03Where to live
The Colony mixes original Fox & Jacobs neighborhoods with lakeside golf living. These are the areas our buyers ask about most.
A 1,600-acre master plan on a Lewisville Lake peninsula planned for about 3,000 homes and townhomes, with two golf courses, more than 10 miles of trails, resort pools, a spray park and pickleball. A marina and lakeside park are planned.
Homes near The TributeThe Fox & Jacobs neighborhoods the city grew from, starting in 1974, close to Main Street (FM 423) and the lake parks.
Homes near Original Colony neighborhoodsStreets around the public 9-hole Stewart Peninsula Golf Course on the city’s lake side.
Homes near Stewart PeninsulaA David Weekley neighborhood on 45-foot homesites near Griffin Middle and The Colony High; the builder sold its last homes in 2024.
Homes near Camey PlaceA 1,700-plus-acre Billingsley Company community that spans The Colony, Carrollton, Plano and Frisco, with apartments, luxury homes and offices.
Homes near Austin RanchJefferson Grandscape and Live Grandscape apartments, walkable to Grandscape’s shops, restaurants and entertainment.
Homes near Grandscape areaCastle Hills, just south, is in the City of Lewisville but shares ZIP 75056, and part of it is zoned to The Colony High. Ask us which city, ISD and tax rate apply to any home you’re considering.
| Community | Builders | What to expect |
|---|---|---|
| The Tribute (Lewisville ISD section) | Grenadier Homes | Townhomes and single-family; about 1,960–2,606 sq ft; about $500K–$585K |
| The Tribute (Little Elm ISD section) | Britton Homes | About 2,830–4,580 sq ft; about $1.22M–$1.78M |
| The Tribute | Perry Homes, American Legend Homes | Ask us about current releases |
Builders and incentives change often. Bring us to your first model-home visit and we’ll represent you, not the builder. How we help new-build buyers →
04Market
Zillow’s typical home value in The Colony was about $395,300 in September 2026, down about 2.5% from a year earlier. In ZIP 75056, which also includes Lewisville’s Castle Hills and The Tribute, Realtor.com counted 189 active listings (down about 16% year over year) at a median list price of about $615,000 and a median of 55 days on market.
That ZIP-wide list price is pulled up by luxury homes in The Tribute and Castle Hills. Original homes in central The Colony trade much closer to the Zillow typical value, so we pull sales by neighborhood, not by ZIP.
Live from the NTREIS MLS for homes in The Colony (houses, townhomes and condos). Sold figures cover the last 60 days.
Monthly The Colony market report with trends Compare The Colony with nearby towns
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05Budget
In the Lewisville ISD part of town, The Colony’s 2025 combined rate is about $1.93 per $100: the city ($0.63, cut from $0.635), Lewisville ISD ($1.1178) and Denton County ($0.185938). In the Little Elm ISD part, the total is about $2.04 with Little Elm ISD’s $1.2252. The rate sheet lists no college or hospital district.
The city adopted $0.6275 for 2026, its 26th straight year of lowering or holding the rate. It also raised its homestead exemption to 5% and its over-65 and disabled exemption to $15,000, and it freezes taxes for those homeowners.
| Taxing unit | Rate per $100 of value |
|---|---|
| City of The Colony (2025) | $0.630000 |
| Lewisville ISD (2025) | $1.117800 |
| Denton County (2025) | $0.185938 |
| Typical total (Lewisville ISD, no MUD) | ≈ $1.93 |
| Little Elm ISD areas | ≈ $2.04 total (ISD $1.2252) |
At about 1.93% before exemptions, a $395,000 home would owe roughly $7,600 a year. The city’s 5% homestead exemption and the $140,000 school homestead exemption lower that.
The Colony PID covers Grandscape’s commercial district, not neighborhoods, and no residential MUDs were identified. Still, newer sections can carry extra assessments, so we review the tax bill for every home.
| Service | Provider |
|---|---|
| Water, sewer & trash | City of The Colony (Republic Services collects trash) |
| Electricity | Oncor area with retail choice, or CoServ Electric, depending on address |
| Natural gas | Atmos Energy |
Tax rates are the adopted 2025 rates and change every year. Verify any address with the Denton Central Appraisal District before you buy. Estimate your payment →
06Education
Most of The Colony is in Lewisville ISD, which enrolled about 46,400 students in 2025–26 and earned a B (81) in 2025. The Colony High School earned a C (72).
Little Elm ISD serves The Tribute’s Little Elm side, including Prestwick Elementary in The Colony. Little Elm ISD (about 7,570 students) earned a C (79) in 2025, and Little Elm High earned a B (85).
| School district | What to know |
|---|---|
| Lewisville ISD | Most of the city; B (81) district; The Colony High C (72) in 2025. |
| Little Elm ISD | Parts of The Tribute; C (79) district; Little Elm High B (85) in 2025. |
School boundaries change as districts grow. We confirm the assigned campuses for every home before you make an offer.
07Location
SH-121 and the Sam Rayburn Tollway run along the city’s south side, and Main Street (FM 423) runs north–south through town. The city says it is about 35 minutes to downtown Dallas and 25 minutes to DFW Airport. There is no rail in the city; the nearest A-train station is Hebron in Lewisville.
| Destination | Distance | Typical drive |
|---|---|---|
| Legacy West, Plano | ~5 mi | About 10 min |
| The Star, Frisco | ~6 mi | About 13 min |
| Old Town Lewisville | ~9 mi | About 15 min |
| DFW Airport | ~20 mi | 25–30 min |
| Downtown Denton | ~25 mi | About 35 min |
| Downtown Dallas | ~26 mi | About 35 min off-peak |
Drive times are typical off-peak estimates. Allow more time at rush hour.
08Lifestyle
A 433-acre district with Nebraska Furniture Mart, Scheels, Cosm, Andretti, Galaxy Theatres, the Grandscape Wheel, PopStroke and a new Costco.
A 65-acre lake park with camping, a swim beach and a three-lane boat ramp.
A 720-acre lake park with cabins, RV sites and a full-service marina.
The 3.3-mile Shoreline Trail and the 5-mile Tribute Shoreline Trail along Lewisville Lake.
The Old American Golf Club and the Scottish-links-style Tribute Golf Links, plus the 9-hole Stewart Peninsula course.
The city’s Fourth of July celebration, with a parade, a 5K, a festival, a carnival and fireworks.
09Everyday life
The Colony has more jobs than many suburbs its size, about 29,000, thanks to Grandscape, retail along SH-121 and the Live Oak Logistics business park. Many residents also work at Legacy, in Frisco or in Plano.
10Quick answers
The Colony (about 46,000 residents in 2025) offers Lewisville Lake, Grandscape and quick access to Legacy West and Frisco, with typical values near $395,000. The trade-offs are a tax rate near 1.93% and traffic on SH-121.
Denton County.
Mostly Lewisville ISD (B, 81, in 2025), which runs The Colony High School. Parts of The Tribute are in Little Elm ISD (C, 79), including Prestwick Elementary.
About $1.93 per $100 for 2025 in Lewisville ISD (city $0.63, Lewisville ISD $1.1178, Denton County $0.185938), or about $2.04 in Little Elm ISD. The city adopted $0.6275 for 2026.
A 433-acre shopping, dining and entertainment district anchored by Nebraska Furniture Mart and Scheels, with Cosm, Andretti, Galaxy Theatres and a new Costco. The city expects 6 to 8 million visitors a year.
A 1,600-acre lake and golf community on a Lewisville Lake peninsula, planned for about 3,000 homes, with two golf courses and more than 10 miles of trails. Prices run from the upper $300,000s to over $1 million.
The city says about 35 minutes to downtown Dallas and 25 minutes to DFW Airport. Legacy West is about 10 minutes away.
Zillow’s typical home value was about $395,000 in September 2026, down about 2.5% from a year earlier. Lakeside homes in The Tribute run well over $1 million.
Crime statistics are published by the The Colony Police Department. We encourage every buyer to review the data for the specific area they are considering and to visit at different times of day. As agents, we share data sources rather than opinions about which neighborhoods are “safe.”
About this guide. Written by Karli Vasek, REALTOR® of Ten Twenty Realty (TREC #0784847), and reviewed October 2026. Facts come from public sources, including: U.S. Census Bureau (Vintage 2025), Texas Education Agency, 2025 DFW tax rates (Denton CAD units), Denton County 2025 tax rate (KERA), City of The Colony FY2025–26 budget, City of The Colony 2026 tax rate, City of The Colony history, City of The Colony utilities, Visit The Colony, Lewisville ISD 2025–26 budget and tax rate, Little Elm ISD financial facts, TEA 2025: Lewisville ISD, TEA 2025: Little Elm ISD, The Tribute (Matthews Southwest), Grandscape, Zillow home value index, Realtor.com ZIP market data.
Your The Colony expert
Karli specializes in Collin County and serves buyers and sellers across Denton County and the DFW metroplex, and helps The Colony buyers weigh lake and golf homes, school districts and tax rates against nearby Frisco and Plano.
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