Prosper is located just North of Frisco on FM 289 (Preston Road). . Posper was a small agricultural community but in recent years – true to its name – it has prospered. This city offers incredible acreage neighborhoods with custom luxury homes as well as gold and equestrian communities. Prosper is very convenient to The Dallas North Tollway and Metroplex. If you are looking for an acre or two, but prefer a more urban atmosphere, Prosper is certainly a community for you.