The Colony vs Little Elm
Pick Little Elm for newer homes and new construction. Typical home values run $478,000 in The Colony and $391,000 in Little Elm, by ZIP code (Zillow Home Value Index, September 2026).
| The Colony | Little Elm | |
|---|---|---|
| Typical home value, by ZIP | $478,000 | $391,000 |
| Citywide value trend, past year | -2.5% (The Colony) | -5.3% (Little Elm) |
| Price tier | $$ | $$ |
| Home types | Single-family, Lakefront, New build (limited) | Single-family, New build, Lakefront |
| Home age | Mostly 1970s–1990s, with newer pockets | Mostly 2000s–present |
| Lots | Standard lots; lakefront and lake-adjacent options | Standard master-planned lots; lake-adjacent options |
| HOA | Many older areas have no mandatory HOA | HOAs common in newer communities |
| School districts | Lewisville ISD | Little Elm ISD, Denton ISD (parts), Frisco ISD (parts) |
| Property tax rate (2025, total) | 1.93% | 1.96% |
| Drive to Downtown Dallas | ~37 min 25 mi | ~46 min 34 mi |
| Drive to Legacy West (Plano) | ~11 min 5 mi | ~21 min 13 mi |
| Drive to DFW Airport | ~30 min 20 mi | ~42 min 27 mi |
| Drive to Downtown Fort Worth | ~49 min 41 mi | ~62 min 51 mi |
| Major roads | SH 121, DNT | US 380, FM 423, DNT |
| Nearby | Grandscape, Lewisville Lake shoreline, The Tribute golf, Stewart Creek Park | Little Elm Park & beach, Lakefront district, Hidden Cove Park |
Home values: Zillow Home Value Index, September 2026. Tax rates: 2025 tax rates per $100 of value, from Republic Title's 2025 DFW Area Tax Rates (compiled from county appraisal districts). County column includes county, community college and hospital districts where they apply. Excludes MUD/PID and special districts, and is before homestead exemptions. Drive times: Off-peak drive estimates from OpenStreetMap routing (OSRM), measured from each area's center on 2026-10-21. Rush hour is often much longer. School districts vary by street, so verify by address.
The Colony
Lake access and Grandscape's entertainment at prices below neighboring Frisco.
Strengths
- Lake lifestyle
- Value relative to Frisco
- SH 121 access
Tradeoffs
- Older housing stock
- Longer drive to Dallas
- Limited new construction
Little Elm
Newer homes near the lake with a beach-town feel and a lower entry price than Frisco next door.
Strengths
- Newer homes at moderate prices
- Lake and beach access
- Close to Frisco amenities
Tradeoffs
- Traffic on FM 423 and US 380
- Longer drive to Dallas
- MUD/PID exposure in places
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