Colfax, IA
Population 2,089 · Iowa
About Colfax, IA
Colfax is a small town located in Iowa with a population of 2,089 residents according to the latest US Census Bureau American Community Survey data. The median household income is $82,878 per year, which is 10% above the national median of $75,149. The median age of 33.3 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Colfax features a median home value of $160,500, which is 34% below the national median of $244,900. This positions Colfax in a moderately priced market relative to the rest of the country. Median monthly rent is $830, 29% below the national average of $1,163/month. Of the 851 total housing units, 71% are owner-occupied (535 units) and 29% are renter-occupied (220 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Colfax shows an unemployment rate of 3.7%, which is near the national rate of 3.7%. The poverty rate stands at 10.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Colfax have an average one-way commute time of 21.4 minutes.
Education & Demographics
20.8% of Colfax residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.3% White, 0.7% Hispanic or Latino, 0.6% Black or African American, and 0.0% Asian residents, with 0.5% of the population being foreign-born.
Cost of Living in Colfax, IA
Compared to national averages, Colfax has a median household income of $82,878 (10% above the national median of $75,149). Home values average $160,500, which is 34% below the national median. Monthly rent at $830 is 29% below the US average of $1,163. Within Iowa, Colfax's income is 22% above the state average of $67,947, and home values are 21% above the state median of $132,237.
Why Live in Colfax, IA?
Colfax offers a strong local economy with a median household income of $82,878, well above the national average, and affordable housing with a median home value of $160,500, below the US average of $244,900, and rent that’s lower than the national average at $830/month. Additionally, the city features a low poverty rate of 10.6%, better than the national average, and short commute times averaging just 21.4 minutes.
Colfax has a population of 2,089 with a median age of 33.3 years. Compare Colfax with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Colfax
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Toledo | 2,079 | $56,719 | $124,000 | Compare |
| Monroe | 2,074 | $81,488 | $173,500 | Compare |
| Audubon | 2,069 | $41,389 | $92,800 | Compare |
| Dallas Center | 2,058 | $88,750 | $231,100 | Compare |
| Lamoni | 2,121 | $52,300 | $107,900 | Compare |
| Lake Mills | 2,054 | $70,333 | $127,100 | Compare |
| Columbus Junction | 2,129 | $76,518 | $114,200 | Compare |
| Ely | 2,033 | $102,262 | $275,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Colfax With Other Cities
Frequently Asked Questions about Colfax
What is the population of Colfax, IA?
The population of Colfax, IA is 2,089 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Iowa.
What is the median household income in Colfax?
The median household income in Colfax, IA is $82,878 per year, which is 10% above the national median of $75,149.
What is the median home value in Colfax?
The median home value in Colfax, IA is $160,500, which is 34% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Colfax?
The median monthly rent in Colfax, IA is $830, which is 29% below the national average of $1,163/month.
What is the unemployment rate in Colfax?
The unemployment rate in Colfax, IA is 3.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Colfax, IA a good place to live?
Colfax offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 2,089 and a median age of 33.3, the city appeals to young professionals and families.
How educated is Colfax, IA?
20.8% of residents in Colfax aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Colfax?
Key cost-of-living indicators for Colfax, IA: median home value is $160,500 (34% below national), median rent is $830/month, and median household income is $82,878. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Colfax?
The poverty rate in Colfax, IA is 10.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Colfax, IA?
Colfax's population is 2.3% White, 0.7% Hispanic or Latino, 0.6% Black or African American, 0.0% Asian, and 0.9% two or more races. 0.5% of residents are foreign-born.