Preston Lakes, Plano TX: Homes, Schools, HOA and What the Numbers Actually Show

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Preston Lakes is a neighborhood in west Plano, Texas, in the 75093 ZIP code in Collin County, between US-75 and the Dallas North Tollway, about six miles west of downtown Plano and roughly 25 miles north of downtown Dallas. MLS-derived data puts the homes at around 2,150 to 6,950 square feet, averaging about 3,960, with three to five bedrooms and two to six baths on lots averaging roughly 0.18 acre, built around 2006. It is zoned to Plano ISD, with Hightower Elementary less than a mile away. Nitin Gupta, CRS, GRI, Broker Associate with Competitive Edge Realty, represents buyers and sellers here and across Plano. Call 469-269-6541 or contact Nitin to start with a conversation.

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Published descriptions of this neighborhood disagree, and the difference matters

One widely read neighborhood guide describes Preston Lakes as featuring homes over 4,500 square feet with five bedrooms, priced typically above $1 million. MLS-derived data tells a different story: an average around 3,960 square feet with a range starting near 2,150, on lots averaging about 0.18 acre. Another description calls the lots generous by Plano standards, which does not match a 0.18-acre average either.

Both pictures can be partly true if the neighborhood contains a mix of larger and smaller homes, but they produce very different expectations about price. If you are researching Preston Lakes online, treat any single summary with caution and work from actual listings and sales for the specific streets you are considering. That is exactly the kind of discrepancy that costs a buyer time on the wrong tours or a seller weeks on the wrong price.

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Make sure you are looking at the right Preston Lakes

There are Preston Lakes neighborhoods in Plano, Frisco and Prosper, and they are not comparable. The Frisco community dates to 1994 with homes of roughly 1,390 to 2,950 square feet. The Plano neighborhood is newer and substantially larger. If you find a price, a school list or a sold comparable online, confirm which city it refers to before drawing any conclusion.

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Schools: Plano ISD

Preston Lakes is served by Plano ISD. Published sources place Hightower Elementary less than a mile from the neighborhood, Frankford Middle School about four miles away and Shepton High School roughly three miles away, with Plano ISD's usual structure sending students to a senior high campus for eleventh and twelfth grade. Note that the Frankford feeder differs from the Renner pattern common in much of west Plano. Confirm the assigned elementary, middle and high school campuses for the exact address with the district before you write an offer rather than relying on distance from a campus, which is not the same as assignment. Learn more about Plano ISD schools and compare districts with the DFW school district ratings guide.

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The HOA

The neighborhood is governed by The Community of Preston Lakes Owners Association, Inc., a Texas association whose management certificate is public record and available through the state's HOA registry at hoa.texas.gov. The association maintains exterior standards, which is part of why the neighborhood has kept a consistent appearance rather than seeing the teardowns and infill some nearby subdivisions have. Before making an offer, request the current assessment and billing schedule, what it covers, the architectural guidelines, recent budgets and the reserve position, along with any rules on exterior changes if you plan to renovate. Read about the Texas HOA resale certificate and what it discloses.

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What to check before you buy

Homes built around 2006 are now approaching twenty years old, which is the point at which the first round of major replacements arrives. Roof, HVAC, water heaters, windows, foundation performance and pool equipment deserve attention, along with any renovation work done by long-term owners, since quality varies. On lots of this size, check drainage between homes, fence condition and where any easements run. The seller's disclosure covers only what the seller knows, so the inspection period is where the real information comes from. Learn about the Texas option period.

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What homes cost

Given the conflicting published descriptions, the honest answer is that a range quoted for the neighborhood as a whole will not tell you much. With homes spanning roughly 2,150 to 6,950 square feet, the low end and the high end are different markets. Price a specific home from recent sales of comparable size and condition inside Preston Lakes and in the surrounding west Plano neighborhoods. For a current read, use the home value analysis or contact Nitin.

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Location and recreation

Preston Lakes sits between US-75 and the Dallas North Tollway, which gives it access to both corridors rather than depending on one. Downtown Plano is about six miles east, with the Legacy corridor, The Shops at Legacy and The Shops at Willow Bend all a short drive. The neighborhood has walking trails and a small park, and the Plano Parks and Recreation Department runs athletic programs, swim teams, camps and fitness classes across the city. The University of Texas at Dallas and several community college campuses are within a short drive. Drive your own commute at the hours you would travel before committing.

Comparing Preston Lakes with nearby neighborhoods

Buyers looking here also consider Castlemere and Cypress Point among 1990s west Plano neighborhoods, Avignon Windhaven for mid-2000s construction with HOA-maintained front yards, and Deerfield or Estates of Forest Creek in other feeders. Buyers wanting larger homes or golf frontage look at the Willow Bend and Gleneagles neighborhoods. See the Plano subdivision directory and the DFW communities directory.

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Selling a home in Preston Lakes

Because online descriptions of this neighborhood conflict, buyers arrive with inconsistent expectations about size and price. A listing that states the square footage, lot size, school assignment and HOA details plainly does more work here than in a neighborhood everyone already understands. Pricing should come from sales of comparable size and condition rather than from any published neighborhood average. See the seller marketing plan and seller services, or learn about landlord leasing services if you plan to rent the home out.

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Preston Lakes FAQs

Where is Preston Lakes in Plano?

In west Plano's 75093 ZIP code in Collin County, between US-75 and the Dallas North Tollway, about six miles west of downtown Plano and roughly 25 miles north of downtown Dallas.

How big are the homes, and when were they built?

MLS-derived data shows homes from about 2,150 to 6,950 square feet, averaging roughly 3,960, with three to five bedrooms on lots averaging about 0.18 acre, built around 2006. Note that some published guides describe the neighborhood as consisting of larger homes over 4,500 square feet, so verify for the specific streets you are considering.

What schools serve Preston Lakes?

Plano ISD. Hightower Elementary is less than a mile away, with Frankford Middle and Shepton High nearby and a senior high campus for eleventh and twelfth grade. Proximity is not assignment, so confirm the campuses for the exact address with the district.

Is there more than one Preston Lakes?

Yes. There are Preston Lakes neighborhoods in Plano, Frisco and Prosper. The Frisco community dates to 1994 with smaller homes. Confirm which city a price, school list or comparable sale refers to.

Who governs the HOA?

The Community of Preston Lakes Owners Association, Inc., with a management certificate filed with the Texas Real Estate Commission and available through the state HOA registry. Request the assessment, guidelines, budgets and reserves before making an offer.

What do homes cost in Preston Lakes?

Published figures conflict, and with homes spanning roughly 2,150 to 6,950 square feet a single range is not useful. Price a specific home from recent sales of comparable size and condition.

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Work With Nitin Gupta in Plano

Nitin Gupta is a Broker Associate with Competitive Edge Realty with 480+ closed DFW transactions, 13 professional designations including CRS and GRI, and D Magazine Best REALTOR® recognition in 2020, 2023 and 2024. He serves clients in English, Hindi, Punjabi, Urdu and Gujarati. Read client reviews, watch home tours on his YouTube channel, or call 469-269-6541.