Esperanza was on U.S. Highway 75 just east of Interstate Highway 45 seven miles north of Willis in northern Montgomery County. The town was founded around 1879 by William Spiller, who owned a tobacco farm in the area and wanted a post office address. When the railroad passed through the settlement the community was called Ada, after Lester Ada, who owned the general store. A post office called Ada operated there from 1893 to 1899. In 1899 Spiller changed its name to Esperanza, which means "hope" in Spanish. He hoped that the town would bring his tobacco business success, but it failed soon after, though the community continued to prosper. By 1915 Esperanza had a population of 100 and six businesses. Its post office was discontinued sometime after 1930. In the 1940s the community had two churches, two businesses, and eight dwellings. By 1965 the area was a part of the Willis Independent School District. In the 1960s a Texas Historical Commission marker was erected at the townsite.