The Colony, Texas Housing Market Prices
The Colony Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 111% above the Texas median$546,190
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Median rent 39% above the Texas median$1,955
Housing Market Overview
| Metric | The Colony | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $546,190 | $258,873 | $248,835 |
| Price Trend (Annual %) | 12.2% | 9.2% | 7.5% |
| Median Gross Rent | $1,955 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in The Colony is about 111% higher than in Texas. Rent is about 39% higher than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in The Colony, up about 12.2% and 5.3% a year respectively. Home prices are changing faster.
Median rent in The Colony rose about 62.3% between 2015 and 2024, from $1,205 to $1,955. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in The Colony.
Buying the median-priced home in The Colony costs roughly 23.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in The Colony. The price-to-rent ratio in Texas is about 15.4.
| Metric | The Colony | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $546,190 | $258,873 | $248,835 |
| Median Household Income | $116,353 | $78,939 | $80,455 |
| Price-to-Income Ratio | 4.7 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in The Colony rose about 258.0%, while median household income rose about 28.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | The Colony | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.7% | 56.7% | 58.5% |
| Rental Rate | 40.1% | 33.9% | 31.2% |
| Vacancy Rate | 4.1% | 9.4% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
The Colony has a homeownership rate of 55.7%, lower than the Texas average of 56.7%. Its housing vacancy rate is 4.1%, compared with 9.4% in Texas.
Housing Stock
| Metric | The Colony | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1999 | 1990 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in The Colony was built around 1999. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
The Colony, TX Housing Compared With Nearby Cities
How The Colony, TX compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| The Colony, TX | 43,293 | $546,190 #1/3 | $1,955 #2/3 | 58.1% #2/3 |
| Lewisville, TX | 128,135 | $511,348 | $1,667 | 47.4% |
| Frisco, TX | 221,418 | $538,142 | $2,016 | 65.3% |
Frequently Asked Questions
Common questions about the housing market in The Colony, Texas.
What is the median home price in The Colony, Texas?
The median home price in The Colony, Texas is $546,190, higher than the Texas average of $258,873.
What is the average home price in The Colony, Texas?
The typical home price in The Colony, Texas, reported as the median sale price, is $546,190. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in The Colony, Texas?
The median gross rent in The Colony, Texas is $1,955 per month, higher than the Texas average of $1,402.
What was the median gross rent in The Colony in 2020?
In 2020, the median gross rent in The Colony, Texas was $1,481 per month.
What is the price-to-rent ratio in The Colony, Texas?
The price-to-rent ratio in The Colony, Texas is about 23.3, meaning it would take roughly 23.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in The Colony.
Are home prices or rent rising faster in The Colony, Texas?
Both home prices and rent are rising in The Colony, up about 12.2% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in The Colony, Texas?
55.7% of households in The Colony, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in The Colony, Texas?
The housing vacancy rate in The Colony, Texas is 4.1%, lower than the Texas average of 9.4%.
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