Rents are 11% below what The Colony's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,822 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in The Colony usually run 1.7% below trend in January and 0.9% above it in August, about $47 a month apart at today's median. Based on 11 years of data.
Rent in The Colony is 3.2% below its high of $1,882 in March 2023, at $1,822 as of September 2026.
Rent in The Colony changed -0.3% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
From 2019 to 2024, rent in The Colony rose 32% while median household income rose 31.3% ($87,187 to $114,511). Rent outpaced income.
Rent in The Colony is 28.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 6 of the last 12 months.
30% of the median household income ($114,511) is $2,863 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,670); a 4-bedroom is $3,430.
Lewisville, 5 miles away, rents for 16% less ($1,538/mo), about $3,400 a year in savings.
From Zillow's monthly rent index (ZORI) for The Colony. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
The Colony, TX is majority owner-occupied, has a median income above the national average, 47.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How The Colony, TX has changed in 5 years
The median rent in The Colony, TX stood at $1,467 in 2021 and currently runs about $1,822, reflecting a 24.2% increase over the period. Census figures show median household income at $114,511 today, compared with $96,901 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 4.5% since 2021, moving from about 43,489 residents to roughly 45,454. College-educated residents now make up 47.7% of adults here, versus 44.5% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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At $1,822/mo, how The Colony rent compares to typical pay (30% rule).
The Colony rent by bedroom count
Median rent for each apartment size in The Colony. Click any size for full breakdown.
Tips for renters in The Colony
Last updated: October 17, 2026
The median rent in The Colony is $1,822/mo as of October 2026. A studio apartment averages $1,730/mo while a 2-bedroom runs $2,130/mo. One-bedroom apartments average $1,820/mo and 3-bedroom units go for $2,670/mo.
At 19% of local median household income ($114,511/yr), The Colony ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.3% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than The Colony?
At $1,822/mo, rent takes ~19% of The Colony's median household income ($114,511/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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