Colfax, IL population, income and ZIP codes

Colfax village is a very small community in Illinois, with 955 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #717 of 1,462 ranked by population — larger than 50% of them. The median age here is 36.8 years against 39.1 nationally, a slightly younger profile than the country as a whole. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.

Households in Colfax village earn a median of $71,528 a year, 8.9% below the national figure of $78,538 and 4% below the $74,244 median for the 698 Illinois cities we cover. Household income here is measured before tax and pooled across everyone at the address, which is why it reads higher than typical individual earnings in the same area. Poverty reaches 8.7% of residents here, below the 12.4% national rate.

The typical owner-occupied home in Colfax village is valued at $123,000, 59.5% below the national figure and 31% below the $179,100 peer median, while median gross rent runs $850 a month, 39.5% below the national figure, or roughly $10,200 across a full year. A household on the local median income would put about 14.3% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 1.7×, against roughly 3.9× nationally, so purchase prices are unusually low against local pay, the pattern in places where supply is plentiful and wage growth has been flat. 77.8% of occupied homes are owner-occupied versus 65% nationally, so the market leans toward owners. Gross rent folds in the utilities a tenant pays separately, so it is closer to the real monthly outlay than a headline rent figure.

With 955 residents, a handful of survey responses moves every median on this page. Compare Colfax village against its county rather than against national figures.

Every value on this page is published directly by the Census for this area — nothing is modelled or interpolated. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.