Welcome to the City by the Lake
The Colony occupies a distinctive position in the DFW metroplex — close enough to Dallas to take advantage of a major city, but grounded in a lakeside community identity that most suburbs simply cannot offer. Whether you are relocating for work, family, or a change of pace, understanding the neighborhoods, schools, and daily rhythms here will help you settle in faster and more confidently.
Choosing a Neighborhood
The Colony has several distinct pockets, and where you land will shape your daily experience considerably.
Stewart Peninsula sits on the shores of Lewisville Lake, roughly three miles from the heart of The Colony. Residents enjoy a community pool with dual water slides, miles of lakeside trails, two parks, and a lakeside golf course with its own neighborhood restaurant. It is consistently one of the most sought-after addresses in the city, and it has the added convenience of Ethridge Elementary School located within the community itself — a genuine walkable-school situation that is rare to find.
The Tribute occupies a peninsula adjacent to Stewart Peninsula and centers its identity around two 18-hole public golf courses. Newer single-family homes with waterfront access list at a median around $775,000, making it one of The Colony’s more upscale enclaves. Golfers and those who simply want water views without a long commute to Frisco tend to find it appealing.
Heritage Lakes is a gated master-planned community with a private lake, walking trails, and a community pool. It consistently ranks among the safest neighborhoods in The Colony and attracts families who prefer a quieter, HOA-managed environment.
Austin Waters and Waterstone are two newer higher-end subdivisions — listing around $781,000 and $778,000 respectively — popular with professionals who commute to Frisco or Legacy West in Plano. If a newer build with modern finishes is a priority, these are worth exploring.
For those drawn to gated living near the Dallas North Tollway corridor, the Lakeside communities near Castle Hills offer premium suburban amenities and convenient access to major roadways.
As a general benchmark, The Colony’s median home price as of mid-2026 sits around $586,000, with average two-bedroom apartment rents near $1,950 per month. You can find more city context through the official City of The Colony website.
Schools in The Colony
The Colony falls within Lewisville ISD, and the district performs well by Texas standards — local public schools average a math proficiency score of 50 percent compared to the state average of 44 percent, and schools here carry an average ranking in the top 30 percent of Texas public schools.
The Colony High School serves grades 9 through 12 with an enrollment of roughly 1,800 students and a student-to-teacher ratio of 12.5. Niche rates it an A-minus overall and ranks it 18th among public high schools in Denton County. The school offers AP coursework with a 23 percent participation rate and is recognized among the most diverse public high schools in Texas.
On the middle school side, Killian Middle School opened in 2007 and is part of the Hebron High School feeder pattern. It ranks among the top middle schools in The Colony according to Public School Review.
At the elementary level, Castle Hills Elementary is consistently rated one of the top public elementary schools in The Colony. Families in Stewart Peninsula specifically should note that Ethridge Elementary is located within that neighborhood and has drawn strong parent reviews for academic and social development.
Recreation and the Outdoors
The Colony’s “City by the Lake” identity is not marketing language — it reflects something real. The city has over 20 miles of trails and significant parkland along Lewisville Lake. Stewart Creek Park and Hidden Cove Park both offer camping, boating, fishing, swimming, and water skiing.
Golf is unusually well represented here. The Tribute Golf Links, Stewart Peninsula Golf Course, and The Old American Golf Club all sit within or immediately adjacent to The Colony — a concentration of lakeside golf that you would be hard-pressed to find in most DFW suburbs.
Entertainment: Grandscape and Lava Cantina
Two local landmarks tend to surprise newcomers with their scale.
Grandscape is a large entertainment district anchored by a 300-foot Ferris wheel, with go-karts, mini golf, a movie theater, escape rooms, and an outdoor stage hosting live music. Nebraska Furniture Mart, which sits within Grandscape, covers over 560,000 square feet — an unusual retail anchor by any DFW measure.
Lava Cantina is a 28,000-square-foot multi-level concert venue and restaurant right in The Colony. It functions as a signature local gathering spot for live music alongside lakeside dining, and locals tend to mention it early when asked where to take out-of-town guests.
Getting Around
The Colony is 28.6 miles from downtown Dallas. The Denton County Transit Authority operates train service that can reduce the burden of that commute, accessible via the Old Town Station in Lewisville. The Dallas North Tollway corridor also runs conveniently close to several of The Colony’s western neighborhoods, making Frisco and Plano commutes manageable.
Crime rates in The Colony run well below the national average, and the Police Department maintains neighborhood watch programs that tend to reflect the community-oriented character of the city more broadly.
Frequently Asked Questions
What is the cost of living like in The Colony, TX?
The Colony sits in a moderately expensive range for DFW. As of mid-2026, the median home listing price is around $586,000, and average rent for a two-bedroom apartment runs approximately $1,950 per month. Higher-end neighborhoods like The Tribute and Austin Waters push well above those medians.
Which school district serves The Colony, TX?
The Colony is served by Lewisville ISD. Key campuses include The Colony High School, Killian Middle School, Castle Hills Elementary, and Ethridge Elementary — the last of which is located within the Stewart Peninsula neighborhood itself.
What outdoor activities are available in The Colony?
Residents have access to over 20 miles of trails, lakeside parks along Lewisville Lake including Stewart Creek Park and Hidden Cove Park, and three golf courses — The Tribute Golf Links, Stewart Peninsula Golf Course, and The Old American Golf Club.
How far is The Colony from downtown Dallas?
The Colony is approximately 28.6 miles from downtown Dallas. Denton County Transit Authority train service is available through the Old Town Station in Lewisville, and the Dallas North Tollway provides a direct highway connection for drivers.
