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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Colfax County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Colfax County ranks #548 of 3,142 counties for affordability (top 17%)
Sourced county brief
Colfax County Median Gross Rent Estimated at $729 Per Month
The median gross rent in Colfax County was estimated at $729 per month, according to the 2020-2024 American Community Survey 5-Year Estimates. This monthly cost is below the New Mexico unweighted county mean of $905. For those in owner-occupied housing, the median home value was $167,200, which is below the state unweighted county mean of $192,727. Median selected monthly owner costs for all owner-occupied units were $675, compared to the New Mexico unweighted county mean of $711. Among renter households, the median income was recorded at $35,964 per year. The official gross rent as a percentage of household income (GRAPI), provided in ACS table B25071, was 25.3%. This canonical measure differs from the New Mexico unweighted county mean of 28.4% by 3.1 percentage points. These statistics provide a snapshot of local housing costs and income levels for specific tenure groups during the 2020-2024 period. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Colfax County
Affordability Verdict
ACS B25071 estimates median gross rent at 25.3% of renter household income in Colfax County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $729 per month; median selected monthly owner costs are $675. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $29,160 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New Mexico unweighted mean of county median rents is $905 per month. Colfax County's $729 median is 19.4% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Colfax County
Rent Burden
16.3%
of gross income
Max Housing (28% Rule)
$1,250
per month
Owner Cost Burden
15.1%
of gross income
The median home in Colfax County may be a stretch
Median home value is $167,200. Estimated monthly cost: $1,335 vs. your max of $1,250.
Rent Affordability Guide
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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
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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