Peyton was on Salado Creek and Farm Road 487 six miles southeast of Florence in northwest Williamson County. The settlement was founded by William Anderson Wilson, who purchased land by the creek and ran a store there in the later part of the nineteenth century. The community had a post office in 1885–86 and a popular half-mile race track nearby. The Bartlett and Western Railway passed near Peyton around 1914, and a railroad siding was built near the Wilson house to allow the family to ship lumber. Flooding destroyed a number of homes on the site in the early twentieth century, and in 1948 the community was no longer shown on county maps.