Colfax, IN
Population 926 · Indiana
About Colfax, IN
Colfax is a small community in Indiana with a population of 926 residents. The median household income is $61,964 per year, which is near the national average. The median age in Colfax is 31.7 years.
Housing in Colfax has a median home value of $114,300 and median monthly rent of $908. Of the 352 total housing units, the majority are owner-occupied, with 237 owner-occupied and 83 renter-occupied units.
The unemployment rate in Colfax is 3.3% and the poverty rate is 5.9%. 5.9% of residents hold a bachelor's degree or higher. The average commute time is 27 minutes.
Cost of Living in Colfax, IN
Compared to national averages, Colfax has a median household income of $61,964 (18% below the national median of $75,149). Home values average $114,300, which is 53% below the national median. Monthly rent at $908 is 22% below the US average of $1,163. Within Indiana, Colfax's income is 11% below the state average of $69,330, and home values are 30% below the state median of $163,409.
Why Live in Colfax, IN?
Colfax offers affordable housing with a median home value of $114,300, below the US average of $244,900, and rent that’s lower than the national average at $908/month, and a strong job market with an unemployment rate of just 3.3%. Additionally, the city features a low poverty rate of 5.9%, better than the national average.
Potential considerations include median household income ($61,964) that falls below the national average. However, Colfax’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Colfax has a population of 926 with a median age of 31.7 years. Compare Colfax with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Colfax
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Palestine | 925 | $89,924 | $134,900 | Compare |
| Memphis | 928 | $116,852 | $233,600 | Compare |
| Gilmer Park | 929 | $61,184 | $142,600 | Compare |
| Goodland | 923 | $56,438 | $92,200 | Compare |
| Converse | 912 | $54,167 | $101,700 | Compare |
| Hamlet | 910 | $68,750 | $109,300 | Compare |
| Shipshewana | 902 | $57,679 | $255,000 | Compare |
| Montezuma | 900 | $43,750 | $65,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Colfax
What is the population of Colfax, IN?
The population of Colfax, IN is 926 according to the latest Census data.
What is the median household income in Colfax?
The median household income in Colfax, IN is $61,964 per year.
What is the median home value in Colfax?
The median home value in Colfax, IN is $114,300.
What is the average rent in Colfax?
The median monthly rent in Colfax, IN is $908.
What is the unemployment rate in Colfax?
The unemployment rate in Colfax, IN is 3.3%.