Millwood is an unincorporated community in Collin County, located in the U.S. state of Texas.

The owner of the land where Millwood was later built, Drury Anglin, opened a general store on his farm in response to the growing number of people stopping by to get supplies and food.

After a few years, a hamlet was established and given the name Millwood due to a lumber mill that was close to Anglin's property.

A church, a flour mill, a gristmill, and a cotton gin were among the businesses in Millwood by 1885 when the town had 100 residents.

The St. Louis Southwestern Railway bypassed Millwood, making it impossible to compete with the business and transportation amenities at Wylie, which was close.