Living in Colfax, Illinois
Cost of living, income, home prices, rent and demographics of Colfax · Census data 2020–2024
Colfax has 1,054 residents with a median age of 36.3. The median household income is $70,625 (15% lower than the Illinois median), the median home value is $136,300, the median rent is $875/month.
Colfax is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Colfax at a glance
- Population
- 1,054
- Median age
- 36.3State: 39
- Median household income
- $70,625State: $83,390
- Median home value
- $136,300State: $263,300
- Median rent
- $875/moState: $1,274
- Homeowners
- 71.6%
- Bachelor's degree or higher
- 23.3%
- Average commute
- 31 min
Is Colfax a good place to live?
Pros: Home values 48% lower than the state median.
Cons: Median household income 15% lower than the Illinois median; an average commute of 31 minutes; unemployment of 6.1%; a poverty rate of 14.4%.
The weather is best in May–June and August–September.
Cost of living in Colfax
Housing is the biggest part of the cost of living. In Colfax the median home value is $136,300, 59% lower than the U.S. median. Renters pay a median of $875 per month, which is 22.2% of household income. Homeowners with a mortgage pay $1,283 a month in housing costs.
Colfax median household income
The median household income in Colfax is $70,625 and the income per person is $46,168. 14.4% of residents live below the poverty line (Illinois: 11.8%).
Housing in Colfax: homes for sale and rent
- Housing units
- 419
- Owner-occupied
- 71.6%
- Renter-occupied
- 28.4%
- Vacant
- 5.7%Includes seasonal homes
- Median year built
- 1952
- Average household size
- 2.63
Colfax demographics
- Population
- 1,054
- Median age
- 36.3
- Under 18
- 27.3%
- 65 and older
- 16.5%
- Households
- 395
- Foreign-born
- 0.9%
- Veterans
- 8.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Colfax ›
Education in Colfax
23.3% of adults 25 and older in Colfax have a bachelor's degree or higher (Illinois: 37.8%), and 5.4% have a graduate or professional degree.
Jobs and commute in Colfax
- Unemployment rate
- 6.1%State: 5.8%
- Average commute
- 31 minState: 28 min
- Work from home
- 12.4%
- Drive alone
- 68%
- Public transit
- 0%
- Walk to work
- 4.1%
- Homes with broadband
- 91.4%
Colfax vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Colfax | 1,054 | $70,625 | $136,300 | $875 |
| Anchor | 206 | $72,250 | $98,100 | — |
| Cooksville | 200 | $68,125 | $115,300 | $955 |
| Arrowsmith | 320 | $88,594 | $103,500 | $975 |
| Ellsworth | 179 | $77,750 | $121,000 | — |
| Lexington | 2,126 | $99,167 | $172,500 | $728 |
| Saybrook | 744 | $52,721 | $98,100 | $923 |
| Sibley | 286 | $72,250 | $90,600 | $1,281 |
| Chenoa | 1,647 | $65,769 | $124,700 | $876 |
More for people moving to Colfax
Colfax ZIP code ›Weather and climate ›Living in Colfax: FAQ
What is the median household income in Colfax, IL?
The median household income in Colfax is $70,625, 15% lower than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Colfax?
The median home value in Colfax is $136,300, compared with $263,300 in Illinois.
How much is rent in Colfax?
The median gross rent in Colfax is $875 per month, about 22.2% of household income.
Is Colfax, IL a good place to live?
Pluses: home values 48% lower than the state median. Minuses: median household income 15% lower than the Illinois median; an average commute of 31 minutes; unemployment of 6.1%; a poverty rate of 14.4%.
What is the median age in Colfax?
The median age in Colfax is 36.3 years (Illinois: 39).
How long is the commute in Colfax?
The average commute to work in Colfax is 31 minutes; 12.4% of workers work from home.
What is the unemployment rate in Colfax?
The unemployment rate in Colfax is 6.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Colfax?
23.3% of adults in Colfax have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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