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Colfax

Learn about the people, housing, costs and businesses in Colfax, North Dakota

Median Home$287,500
Median Rent$750/month
Population175
Leading IndustriesPublic Administration · Manufacturing · Transportation40% public administration
Home Value Growth⬆⬆+20.1% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners94% of occupied units
NotableHigh Incomes$105k/year · top 14% nationally
Colfax
ND

Frequently Asked Questions

What are today's mortgage rates in Colfax?

As of today, the 30-year fixed mortgage rate for Colfax is approximately 6.954% (6.995% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Colfax?

The median home value in Colfax is $288k. The median monthly rent is $750. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Colfax?

Home values in Colfax have increased 20.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Colfax?

Based on a typical all-in ownership cost of $1,183/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $51k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Colfax is $105k/year.

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What industries drive the economy in Colfax?

The largest employment sectors in Colfax are public administration (40%) and retail (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.