Cost of Living in Colfax County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Colfax County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Colfax County ranks #1,155 of 3,144 counties for affordability (top 37%)
Data Story
About Cost of Living in Colfax County, New Mexico
Colfax renters enjoy exceptional affordability ratios
Colfax County renters spend just 16.0% of income on rent, significantly better than the national baseline of roughly 19%, despite median household income of $52,690—29% below the national average. This northeastern county combines low wages with even lower housing costs, creating genuine savings.
Second-best affordability ranking in New Mexico
Colfax's rent-to-income ratio of 16.0% ranks second only to Cibola County in New Mexico's affordability standings, beating the state average of 19.4%. With median rent at $704—20% below the state mean—Colfax emerges as a housing-cost champion among rural counties.
Colfax undercuts most neighbors on monthly rent
Colfax's $704 median rent ranks among the state's lowest, undercutting all but Catron ($740) and Cibola ($724). This Raton-area county competes directly with other remote rural regions for residents prioritizing extreme cost minimization.
Renters pay slightly more than owners in Colfax
Colfax renters spend $704 monthly while homeowners pay $675—a rare scenario where ownership costs nearly match rentals, reflecting modest property values averaging $161,000. At $52,690 median income, housing consumes roughly 16% of household budgets regardless of tenure.
Colfax targets budget-minded residents seeking stability
Colfax County delivers both the state's second-best affordability ratio and genuine ownership-renting parity, appealing to those seeking long-term cost control. Consider Colfax if you value historic small-town charm paired with among America's lowest housing burdens.
Cost of Living Advisory: Colfax County
Affordability Verdict
Housing in Colfax County is affordable. The median rent is $704/month against a median household income of $52,690, putting rent at 16.0% of income.
Rent vs. Own
The median rent in Colfax County is $704/month, while owner costs run $675/month. Owning saves approximately $29/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,160/year. For owner costs at the 28% rule, the required income is roughly $28,929/year. With a median household income of $52,690, most households can comfortably afford rent here. Notably, 23.0% of renter households in Colfax County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Colfax County sits 8% more expensive than Socorro County ($653/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Colfax County
Rent Burden
16.0%
of gross income
Max Housing (28% Rule)
$1,229
per month
Owner Cost Burden
15.4%
of gross income
The median home in Colfax County may be a stretch
Median home value is $161,000. Estimated monthly cost: $1,285 vs. your max of $1,229.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Colfax County, New Mexico?
What is the median rent in Colfax County?
Is Colfax County affordable?
How does Colfax County's rent compare to the state average?
What is the median home value in Colfax County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Colfax County, New Mexico? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Colfax County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.