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135 Apartments for rent in The Colony, TX

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Last updated August 20 at 6:03AM
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City Guide
The Colony
Finding an Apartment in The Colony

Did you know that the cost of living in The Colony ranks among the highest in the state of Texas? Fortunately, this cost pales in comparison to the most expensive cities in the United States, making it relatively affordable. This, of course, means you must sort your budget out before you even start your hunt for rental housing in this city.

How much to do have to spend on rent? Make a list of your estimated monthly budget and map out how much you can comfortably spend on rent. This ought to give you an idea of the sorts of places within your range, helping you save time by concentrating on the places you can afford. There's no need to look at places outside of your estimated budget, and you can also weed out those places that might fall below expectations.

Utilities

For most people, the issue of amenities is where it gets a little tricky. Did you know that you can save more money in the long run if your apartment is a little more expensive, but has all-inclusive amenities? For instance, if your rent is a little outside of your budget but includes amenities such as gas, electric and water, you could potentially save more money than if the rent was cheaper, but with no utilities included. Be warned, though, that most places that include utilities tend to include only one, such as gas, and not the rest. The choice is yours to decide if this is worth signing on the dotted line for a particular apartment, or if you prefer to look for somewhere else with other qualities you desire in a rental place.

Transportation

Be warned that the public transportation system in The Colony is not on par with some of the other cities in the country, making it a necessity, rather than a convenience, for residents to own a vehicle. The nearest Amtrak station is about 22.1 miles from the center of The Colony, while the Dallas-Fort Worth International Airport is about 15.8 miles away. The majority of residents drive to their destinations, while others carpool, call cabs or look for other ways of getting around. You can also take any of the buses provided by Dallas Area Rapid Transit to get from one point to the next. The commute in The Colony is relative to what part of town you set out from. The drive from the City Center is between 15 to 20 minutes, while from other parts of town may take up to 30 minutes or more.

Neighborhoods in the Colony

Camey: Camey is a neighborhood in the city of The Colony and is predominantly composed of houses that have been built more recently than those in most of the other neighborhoods. Most of the homes here date from the 2000s, although you will find some that were built between the '70s and '90s. Those hunting for apartment deals will find high-rise type apartment buildings, apartment complexes and single-family homes. This neighborhood is prized for the affordability of its rental properties, close proximity to schools and a reasonable reputation for low crime.

City Center: This neighborhood is more established than Camey, with buildings dating back to between the early '40s and the late '90s. Those searching for apartments to rent will definitely come up short in this part of town, because most of the buildings are in the form of small to large single-family homes. Also, as expected in a neighborhood as old as this one, most of the homes are owner-occupied.

Overlake Drive / Pine Court: The Overlake Drive / Pine Court neighborhood is also mostly composed of established homes, ranging from the '70s to the late '90s. A small fraction of newer homes ranging from the early 2000s can also be found here. Just like the City Center, the predominant types of houses here are medium to large single-family detached homes.

Things to Do in The Colony

One of The Colony's main attractions is its man-made lake, named Lewisville Lake. It sits like an oasis in the hot Texas weather and is a refreshing relief from the relentless sun. You can also go to any one of the several museums, including the Bayless-Selby House Museum and the Denton County Historical Museum. For outdoor recreation, you can visit Cedar Hill State Park or Stewart Creek Park. If you like Mexican food, then you'll enjoy the grub at Rusty Taco, such as the habanero salsa, brisket, beef fajita tacos and chicken tacos. If you have a preference for good and affordable Thai food, you'll like the food at Cozy Thai, especially the Tom Yum soup. Just one thing -- go easy on the spices because they pack quite a punch. For a more all-American meal, try the food at the Texas Roadhouse. Just remember to call ahead, or you could have quite a wait when you get there. Yes, it's that popular.

No matter what type of rental housing you are searching for, you'll most likely find something to fit within your budget and taste in The Colony.

Rent Report
The Colony

August 2017 The Colony Rent Report

Welcome to the August 2017 The Colony Rent Report. The Colony rents declined over the past month. In this report, we'll evaluate trends in the The Colony rental market, including comparisons to cities throughout the metro, state, and nation.

The Colony rents declined slightly over the past month

The Colony rents have declined 0.2% over the past month, but have increased sharply by 6.6% in comparison to the same time last year. Currently, median rents in The Colony stand at $1,170 for a one-bedroom apartment and $1,450 for a two-bedroom. The Colony's year-over-year rent growth leads the state average of 1.4%, as well as the national average of 2.9%.

Rents rising across the Dallas Metro

Throughout the past year, rent increases have been occurring not just in the city of The Colony, but across the entire metro. Prices rose year-over-year in all of the 10 largest Dallas area cities that we have data for. Rents also increased in other areas of the state, with Texas as a whole logging rent growth of 1.4% over the past year. Here's a look at how rents compare across some of the largest cities in the metro, as well as the rest of the state.

  • Arlington has seen the fastest rent growth in the metro, with a year-over-year increase of 9.2%. The median two-bedroom there costs $1,190, while one-bedrooms go for $960.
  • Over the past month, Mesquite has seen the biggest rent drop in the metro, with decline of 0.6%. Median two-bedrooms there cost $1,290, while one-bedrooms go for $1,040.
  • McKinney has the most expensive rents of the largest cities in the Dallas metro, with a two-bedroom median of $1,450; rents increased 0.6% over the past month and 4.5% over the past year.
  • Dallas proper has the least expensive rents in the Dallas metro, with a two-bedroom median of $1,110; rents grew 0.6% over the past month and 2.9% over the past year.
  • Looking throughout the rest of the state, Austin is the most expensive of all Texas' major cities outside the Dallas metro, with a median two-bedroom rent of $1,400; of the 10 largest Texas cities that we have data for, 3 have seen rents fall year-over-year, with Houston experiencing the fastest decline (-2.6%).
  • San Antonio, Austin, and Lubbock have all experienced year-over-year growth above the state average (2.8%, 2.0%, and 1.9%, respectively).

Many large cities nationwide show more affordable rents compared to The Colony

As rents have increased in The Colony, a few large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Compared to most large cities across the country, The Colony is less affordable for renters.

  • The Colony's median two-bedroom rent of $1,450 is above the national average of $1,160. Nationwide, rents have grown by 2.9% over the past year.
  • While The Colony's rents rose over the past year, some cities nationwide saw decreases, including Miami (-0.8%) and DC (-0.4%).
  • Renters will generally find more expensive prices in The Colony than most large cities. Comparably, Phoenix has a median 2BR rent of $1,020, where The Colony is nearly one-and-a-half times that price.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Dallas $890 $1,110 0.6% 2.9%
Fort Worth $910 $1,130 0.8% 5.2%
Arlington $960 $1,190 1.0% 9.2%
Plano $1,140 $1,420 0.6% 1.9%
Garland $980 $1,220 -0.4% 4.2%
Irving $960 $1,190 0.5% 5.4%
Grand Prairie $1,000 $1,240 0.8% 8.7%
Mesquite $1,040 $1,290 -0.6% 7.0%
McKinney $1,160 $1,450 0.6% 4.5%
Carrollton $1,070 $1,320 0.1% 5.4%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.