The Colony Apartment Locator: Grandscape, Austin Ranch and SH-121 Tolls
Our Colony apartment locator team checked 22 places this week, and 14 of them have specials. Prices start at $1,053 a month after free rent. The Colony sits on Lewisville Lake's east shore, and Grandscape, 400 acres of shopping and entertainment, sets the pace on SH-121. Newer buildings line SH-121 near Grandscape, and Austin Ranch on the south end holds the biggest cluster of apartments. The older core has renovated garden communities that are often easier on approvals. There's no rail, so the Sam Rayburn toll often gets added to the rent.
- Typical 1 bedroom
- $1,284/mo
- Places with homes available
- 22
- With a special
- 64%
- Our help costs you
- $0
After free rent, before fees. Checked . See this week's deals
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Costs you nothing
Your list and our help are free
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We never touch your screening report
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We reply during our hours
Mon to Fri, 9:00am to 6:00pm. Your budget and move date are all we need.
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TREC #562021
Spirit Real Estate Group
The Colony apartments by size this week
We checked 22 places in The Colony on November 6, 2026. Prices count any firm free rent, spread over the lease, and are before fees. Pick your size to see the best deals.
This week in The Colony
Price by building age, after free rent
On a 1 bedroom here, middle age buildings run about $231 a month less than newer ones. If price matters most, start with them.
On a 2 bedroom here, middle age buildings run about $562 a month less than newer ones. If price matters most, start with them.
On a 3 bedroom here, middle age buildings run about $721 a month less than newer ones. If price matters most, start with them.
64%
of places here have a move-in special
Firm free rent offers here give about 6 weeks. Newer buildings give more: about 8 weeks.
+$147
typical 3 bedroom since November 1
Prices here went up. When you find a deal you like, ask us how long it lasts.
3
brand new or still opening
None has a special this week. New buildings often run the biggest deals as they fill up.
Renting a house or an apartment in The Colony?
A 2 bedroom house here runs about $185 a month less than a 2 bedroom apartment, even after the apartment's free rent.
A 3 bedroom house here runs about $439 a month less than a 3 bedroom apartment, even after the apartment's free rent.
With a house you usually get a yard, more room and no shared walls. You often pay water, trash and yard care yourself, and deposits can run higher.
With an apartment you pay community fees each month for things like parking, trash and amenities. Free rent usually needs a lease of 12 months or more, and the staff on site handles repairs.
House rents: Rentometer, Oct 2026, houses rented in The Colony, TX in the past 12 months. Apartment prices: our check of 22 communities this week, after free rent and before fees.
Our picks in The Colony
Places we like right now, in each kind of building. Tell us your budget, and we'll send the names and floor plans.
Newer buildings
Built or redone since 2015
1 / 71 Bedroom from $1,477/moOur takeA brand new building, so you get first pick of fresh homes, and the leasing office is patient and clear.Get the name →
1 / 81 Bedroom from $1,394/moOur takeA good looking, well run newer building with shared spaces that work well for hosting friends.Get the name →
1 / 71 Bedroom from $1,499/moOur takeBrand new, so everything inside is new too.Get the name →
Middle age buildings
Mostly built 1995 to 2014
1 / 41 Bedroom from $1,154/moUp to 1 month freeOur takeAn older property kept in great shape, with a maintenance crew that goes the extra step to fix things right.Get the name →
1 / 81 Bedroom from $1,191/moUp to 4 weeks freeOur takeMaintenance moves fast here, even on cold storm nights, and the walkable setting with a park nearby is a real perk.Get the name →
Find your best deal in The Colony
Pick what you want. We compare each deal with buildings like it here: same size, about the same age.
Circles show the general area, not the building. Numbers match the deals below.
1 / 8Top deal on this list
$307 below similar 1 bedrooms here
10 weeks free on a 12‑month lease
$1,055
/mo net effective
1 bed · 691 sq ft · $1,305 listed · You save about $3,000
Class A · Built 2020 · 4+ stars on Google
14 homes available this week
Get the name and floor plan
1 / 8$82 below similar studios here
Studio · 554 sq ft · $1,314 listed
Class A · Built 2021 · 4+ stars on Google
10 homes available this week
6 weeks free on a 12‑month lease
You save about $1,810
$1,163/mo net effectiveGet the name
1 / 8$437 below similar 2 bedrooms here
2 bed · 1,105 sq ft · $1.54 per sq ft
Class A · Built 2020 · 4+ stars on Google
Up $51 since November 1 · 62 homes available this week
No special needed
$1,698/moGet the name- 1 / 4★ Our pick
$407 below similar 3 bedrooms here
3 bed · 1,292 sq ft · $1.45 per sq ft
Class B · Built 2004 · 4+ stars on Google
2 homes available this week
Up to 1 month free on some homes
$1,876/moGet the name
Prices are rent only. Monthly fees and the deposit are extra. Ask for your list, and we'll send the names and floor plans.
Nothing here matches all of that this week. Tell us what you want and we'll look for buildings that fit.
Why our prices are lower than what the community quotes
When a community gives free rent, we spread it over the whole lease and show what you pay a month on average. The community quotes the full rent, and many take the free rent off your first months. You pay the same total either way. Our way lets you compare one deal with another. Fees and the deposit are extra.
Why our prices are lower than what the community quotes
When a community gives free rent, we spread it over the whole lease and show what you pay a month on average. The community quotes the full rent, and many take the free rent off your first months. You pay the same total either way. Our way lets you compare one deal with another. Fees and the deposit are extra.
See all the numbers: prices by size, newer vs. older, week by week
Prices by size
"Middle half" is the range half the places here start in. A price under it beats about 3 in 4 places.
| Size | Typical | Cheapest | Middle half | Per sq ft | Since November 1 | Places open |
|---|---|---|---|---|---|---|
| Studio | $1,245 | $1,119 | $1,188 to $1,368 | $2.12 | up $126 | 7 |
| 1 bed | $1,284 | $1,053 | $1,149 to $1,402 | $1.96 | up $87 | 20 |
| 2 bed | $1,883 | $1,431 | $1,665 to $2,160 | $1.72 | up $105 | 20 |
| 3 bed | $2,734 | $1,809 | $2,289 to $3,060 | $1.73 | up $147 | 17 |
| 4 bed | $3,183 | $2,969 | n/a | $1.31 | down $140 | 3 |
Newer vs. older buildings
Newer means built or redone since 2015. Middle means mostly 1995 to 2014. Older means built before 1995. Prices are for a 1 bedroom. How we sort them
| Buildings | Typical 1 bed | With a special | Usual weeks free | Per sq ft | Places |
|---|---|---|---|---|---|
| Newer (Class A) | $1,385 | 38% | 8 weeks | $1.93 | 13 |
| Middle (Class B) | $1,154 | 100% | 5 weeks | $1.53 | 9 |
Prices week by week
The typical price from each weekly check since Oct 28. A line heading down means prices here are easing.
Each place's price is its lowest listed available apartment of that size, after any firm free rent and before fees. We leave out income restricted, tax credit, 55+ and student housing. Prices can change any day, so get the final price in writing from the building before you apply.
Areas we cover inside The Colony
Austin RanchThe Colony's biggest apartment district, along Plano Parkway and Windhaven Parkway near SH-121.
Newer midsize and garden apartments surround ponds and trails, and SH-121 is close.
The TributeA golf course community on a Lewisville Lake peninsula in north The Colony.
Rentals here are houses, and the drive out to SH-121 takes some time.
Grandscape DistrictThe big entertainment and shopping district off SH-121 anchored by Nebraska Furniture Mart.
Newer apartments sit nearby, and SH-121 is right at the door.
SH-121 CorridorSH-121, the Sam Rayburn Tollway, runs along The Colony's south side.
It's the fastest way to Plano, Frisco and DFW Airport, and the tolls add up.
Old ColonyThe original part of The Colony, mostly 1970s Fox and Jacobs houses on streets off Main Street.
Rentals here are houses and a few older duplexes.
Stewart Creek AreaStewart Creek Park sits on Lewisville Lake with a boat ramp and campsites.
Older houses fill the nearby streets, and Main Street is the main road.
Hidden CoveHidden Cove Park is a lake park off Hackberry Road just north of The Colony, with campsites and lake access.
Houses are the main rentals nearby.
The Colony Apartments Between Grandscape and the Lake
- SH-121 tolls added before you compare, since a home off the toll road can win once they're in
- Clawback clauses on specials near Grandscape, which we look for in the addendum
- Older core garden communities that have approved credit problems with conditions
SH-121, its tolls and the lake
SH-121, the Sam Rayburn Tollway, is the road in and out, east to Frisco, Plano and the Legacy offices and west toward Lewisville and DFW Airport. The Colony has no rail or DART service, so a car does everything. The toll for a daily run toward Legacy or Las Colinas belongs in the budget, so price it on NTTA's toll calculator.
Rush hour bunches up where SH-121 meets the Dallas North Tollway and I-35E. On the west side, Lewisville Lake brings Stewart Creek Park and Hidden Cove Park within a short drive of most homes.
New SH-121 buildings, the older core and Austin Ranch
Along SH-121 and near Grandscape, the newer buildings stick to their posted rules and often run several weeks free on longer leases as they fill up. Our specials guide shows how to compare them.
The older core is often the best value. Its renovated garden communities approve many credit and rental history problems with conditions, without the toll bill or the higher Grandscape rents. Austin Ranch, on the south end, mixes new and older buildings in the city's biggest cluster of apartments.
The Tribute, the golf community on a peninsula in the lake, rents mostly houses and townhomes. Oncor serves most of the city, so you can usually shop for a plan.
Lake days and Grandscape nights in The Colony
The Colony sits on the east shore of Lewisville Lake, with SH-121 along its south side. Grandscape brings the crowds, and the lake parks and the Shoreline Trail are the quiet side of town.
- Short drives to Legacy West
- Lake parks, trails and a dog park
- Grandscape, barbecue and big patios
- The Ferris wheel and the Fourth of July
- What we tell renters about The Colony
Short drives to Legacy West
The Colony is one of the closest suburbs to Legacy West in Plano: about 13 minutes at 8am by our drive times. DFW Airport runs about 29 minutes, the Medical District 42 and Downtown Dallas 48. The Sam Rayburn Tollway (SH-121) forms the town's south edge and carries most trips east and west. There's no train here, so plan on a car.
Sam Rayburn Tollway
Your fast road to Frisco, Plano and the airport; get a toll tag so you aren't billed by mail.
- Daily commute
- Trips to Plano
Lake parks, trails and a dog park
Stewart Creek Park, about 2 miles from the middle of town, sits on Lewisville Lake with lake access and picnic spots. The Shoreline Trail follows the lake on the town's west side for walks and bike rides with water views. Bill Allen Memorial Park has a disc golf course, and Pawsome Playground is a dog park close in.
Stewart Creek Park
Spend a summer morning by the water before the weekend crowd shows up.
- Lake mornings
- Picnic lunches
Shoreline Trail
Walk or bike it at sunset, when the light hits the water and the heat drops.
- Sunset walks
- Bike rides
Pawsome Playground Dog Park
Give your dog a chance to run off leash after work, and bring water on hot days.
- Dog runs
- After work
Grandscape, barbecue and big patios
Grandscape, off SH-121 at the town's south end, is where The Colony goes out. You'll find Truck Yard's huge outdoor bar, Thirsty Lion, Windmills Craftworks, Topgolf and mini golf at PopStroke and Puttery. Hard Eight BBQ, a short drive away, is the barbecue stop, where you pick meat straight from the pit. Weekend nights at Grandscape run late and loud.
Grandscape
Go on a weeknight for dinner and mini golf without the crowds, or a Saturday when the bands and lights are on.
- Dinner and games
- Live music
- Weekend nights
Truck Yard
Grab a drink and food truck dinner at the picnic tables; it's at its best on a mild spring or fall night.
- Outdoor drinks
- Live music
Hard Eight BBQ
Pick your meat at the outdoor pit for lunch on a weekend, and get there before the line grows.
- Weekend lunch
- Brisket by the pound
The Ferris wheel and the Fourth of July
The Grandscape Wheel lifts you high above SH-121 for a long view across the lake country. On the Fourth of July, Liberty by the Lake fills the day. It starts with a 5K at Stewart Creek Park in the morning and a parade at 10am. Then comes an evening festival at the Five Star Complex, with fireworks at 9:30pm. Barney Smith's Toilet Seat Art Museum, inside Truck Yard at Grandscape, is an odd little stop worth one visit.
Grandscape Wheel
Ride it near sunset for the best view of the lake and the lights coming on below.
- Sunset views
- Date nights
The Colony Five Star Complex
Come on July 4 for the evening festival and fireworks, and bring chairs for the grass.
- Fourth of July
- Weekend games
What we tell renters about The Colony
Grandscape draws traffic onto SH-121's frontage roads on weekend nights and through the holidays, so expect it if you live nearby. On July 4, the parade and the evening festival close roads around town. On hot summer weekends the lake parks fill by midmorning, so go early.
The Colony questions
What does a daily SH-121 commute add to rent in The Colony?
That depends on your direction and how many days you drive. We count your commute days and look up the toll for your trip. A home that keeps you off the toll road can come out cheaper.
What strings come with specials near Grandscape?
Usually a clawback that turns the free weeks into a bill if you leave early. We ask for the addendum so you can read it before you sign.
Why does Grandscape matter to renters?
It's 400 acres of shopping and entertainment, with Scheels and its indoor Ferris wheel, restaurants and regular events, and it's a big employer too. If you work or shop there, a nearby lease can save real driving.
Is Austin Ranch where most of The Colony's apartments are?
It's the biggest cluster, on the south end, with new and older buildings. The older core and the SH-121 corridor have plenty too, at different rents and screening.
Which school district serves The Colony?
Lewisville ISD for most of the city, with some addresses in Little Elm or Frisco ISD. We check the exact address with the district.
Is the older core of The Colony a better deal?
Often. Its garden communities rent below similar places in Frisco and Plano, approve many credit problems with conditions, and don't tie you to the toll road. Across all of The Colony, a typical one bedroom runs about $1,284 right now.
Is there an apartment locator near The Colony?
Yes. We search The Colony in three parts: the new buildings near Grandscape, Austin Ranch and the older core. We price the SH-121 toll for your commute from each one.
Near The Colony
Lewisville sits across the lake to the west, Frisco is the next city east on SH-121, and Plano is a little farther along.
Looking in The Colony?
Give us a budget and your commute and we'll weigh The Colony's older core against the SH-121 buildings with tolls counted.
specials with clawbacks · tolls and monthly cost · credit history options
Free to renters · No credit pull · Brokered by Spirit Real Estate Group, TREC #562021